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What are the regulations on delivery mode, content, and documents of continuing professional development in valuation in Vietnam from July 1, 2024?

What are the regulations on delivery mode, content, and documents of continuing professional development in valuation in Vietnam from July 1, 2024?

What are the regulations on delivery mode, content, and documents of continuing professional development in valuation in Vietnam from July 1, 2024?

Based on Clauses 1, 2, and 3 of Article 20 of Circular 39/2024/TT-BTC regarding the delivery mode, content, and documents of continuing professional development in valuation in Vietnam as follows:

(1) The class for continuing professional development on the valuation profession must be held continuously in one session and must ensure adequate time, content, and materials as prescribed in (2) and (3) and the annual update guidance from the Ministry of Finance. Each update knowledge class may not exceed 150 learners.

(2) Content of Knowledge Update

- Legislation on pricing, valuation, and other related laws regarding the valuation activities of Vietnam and internationally;

- Skills, valuation experiences, valuation scenarios, and professional ethics;

- Other knowledge and information related to valuation.

(3) Materials for Knowledge Update are compiled by the unit organizing the update classes and must contain the basic contents as prescribed in (2). The organizing unit for knowledge updates is responsible for regularly updating new state regulations in the field of pricing and valuation during teaching.

Additionally, based on Clause 4, Article 20 of Circular 39/2024/TT-BTC which regulates the minimum annual knowledge update hours as follows:

Delivery mode, content, documents and duration of continuing professional development​ in valuation
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4. The minimum annual knowledge update duration is 20 hours/year for asset valuation and 24 hours/year for business valuation. If a learner has attended the update class but has not met the required update hours, they must attend other update classes of the same knowledge update unit to meet the required hours, but not exceeding 2 (two) classes/year.

Thus, the minimum annual knowledge update duration is 20 hours/year for asset valuation and 24 hours/year for business valuation.

Moreover, if a learner has attended the knowledge update class but has not met the required update hours, they must attend other update classes of the same knowledge update unit to meet the required hours, but not exceeding 2 (two) classes/year.

How Will the Form of Organization, Content, and Materials for Updating Knowledge on Valuation Profession be from July 1, 2024?

What are the regulations on delivery mode, content, and documents of continuing professional development in valuation in Vietnam from July 1, 2024? (Internet image)

What are the cases of confirmation of completion of continuing professional development in valuation in Vietnam?

Based on Article 21 of Circular 39/2024/TT-BTC which regulates the confirmation of completion of continuing professional development in valuation in Vietnam as follows:

- Learners who have met the required update hours as per Clause 4, Article 20 of Circular 39/2024/TT-BTC will be confirmed to have completed the knowledge update on the valuation profession in the fields of asset valuation or business valuation.

The head of the unit continuing professional development (or a deputy assigned by the head) signs and issues the confirmation of completion of continuing professional development in valuation in Vietnam.

- The confirmation of completion of continuing professional development in valuation in Vietnam stipulated in Clause 1, Article 21 of Circular 39/2024/TT-BTC is a prerequisite for a valuer to register professional practice in asset valuation or business valuation from the date of issuance until the end of December 31 of the following year.

- In case a valuer attends the ASEAN Valuation Association Conference, the Certificate of Attendance can replace the confirmation document required for registering professional valuation practice.

What are the principles of training, refresher training, continuing professional development in Vietnam?

Based on Article 3 of Circular 39/2024/TT-BTC regulating the principles of training, refresher training, continuing professional development:

- The program, content, and duration of training, refresher training, continuing professional development must be appropriate for the participants as stipulated in Circular 39/2024/TT-BTC.

- The content of training, refresher training, continuing professional development must regularly update, improve quality, and meet the needs of the participants.

- The training, retraining, and knowledge update sessions are organized in person. In cases of emergencies, incidents, disasters, epidemics, or other necessary situations, the Ministry of Finance will notify the organization of training, refresher training, continuing professional development to be conducted online.

- The organization of training, refresher training, continuing professional development must comply with the regulations of Circular 39/2024/TT-BTC.

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