From July 1, 2024, what is the minimum duration of annual professional development in asset and business valuation in Vietnam?
From July 1, 2024, what is the minimum duration of annual professional development of asset and business valuation in Vietnam?
Based on Clause 4, Article 20 of Circular 39/2024/TT-BTC governing the duration for professional development in the field of valuation, the regulations are as follows:
Forms of organization, contents, materials, and duration for professional development in valuation
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4. The minimum duration of annual professional development is 20 hours/year for asset valuation and 24 hours/year for Business valuation. In cases where trainees have attended the knowledge update class but have not fulfilled the required number of updating hours, they must continue to attend additional update classes from the same update unit to supplement the required hours, but not exceeding 2 (two) classes/year.
Thus, the minimum duration of annual professional development in valuation
- Asset valuation: 20 hours/year.
- Business valuation: 24 hours/year.
Note: In cases where trainees have attended the knowledge update class but have not fulfilled the required number of updating hours, they must continue to attend additional update classes from the same update unit to supplement the required hours, but not exceeding 2 (two) classes/year.
From July 1, 2024, what is the minimum duration of annual professional development of asset and business valuation in Vietnam? (Internet Image)
What are the conditions for confirming the completion of professional development in valuation in Vietnam?
Based on Article 21 of Circular 39/2024/TT-BTC, the conditions for confirming the completion of professional development in valuation in Vietnam are as follows:
- Trainees who have attended the required number of updating hours as stipulated in Clause 4, Article 20 of Circular 39/2024/TT-BTC shall be confirmed as having completed the professional development in valuation in the field of asset valuation or Business valuation.
The head of the knowledge update unit (or a deputy assigned by the head of the knowledge update unit) shall sign and issue the certificate of completion for the professional development in valuation.
- The certificate of completion for the professional development in valuation as stipulated in Clause 1, Article 21 of Circular 39/2024/TT-BTC is one of the conditions for appraisers to register their valuation practice in the field of asset valuation or Business valuation from the date the certificate is issued until December 31 of the following year.
- In cases where appraisers participate in the ASEAN valuation Conference, the conference participation certificate shall replace the certificate of completion for the professional development in valuation when registering for valuation practice.
What are the general principles in valuation training in Vietnam? Who are trainees?
Based on Article 3 of Circular 39/2024/TT-BTC, the principles of training, refresher training, and professional development in Vietnam are as follows:
- The program, content, and duration of training, refresher training, and professional development must be appropriate to the participants attending the training, refresher training, and professional development classes as stipulated in Circular 39/2024/TT-BTC.
- The content of training, refresher training, and professional development must ensure regular updates, enhancing quality to meet the needs of those attending the training, refresher training, and professional development classes.
- Training, refresher training, and professional development is organized in a centralized form. In case of emergencies, incidents, disasters, natural calamities, pandemics, or other necessary cases, the Ministry of Finance shall notify that training, refresher training, and professional development be conducted online.
- Training, refresher training, and professional development must comply with the provisions of Circular 39/2024/TT-BTC.
Thus, these are the general principles in training, refresher training, and professional development for valuation students.
Simultaneously, based on Article 8 of Circular 39/2024/TT-BTC, the Trainees of training in asset valuation and Business valuation are:
Trainees
1. Individuals who wish to take the exam to be granted an appraiser card.
2. Other individuals who wish to attend the training classes for valuation.
Thus, there are 02 Trainees of training in asset valuation and Business valuation: individuals who wish to take the exam to obtain an appraiser card and other individuals.
Based on Article 13 of Circular 39/2024/TT-BTC, the Trainees of state valuation refresher training are:
Trainees
1. Individuals involved in state valuation.
2. Other individuals within government agencies and those who wish to be trained in state valuation.
Thus, there are 02 Trainees of state valuation refresher training: individuals involved in state valuation, other individuals within government agencies, and those who wish to be trained.
Based on Article 18 of Circular 39/2024/TT-BTC, the Trainees of valuation professional development in Vietnam are as follows:
Trainees of professional development
1. Appraisers, except in cases where the appraiser card was issued less than one year from the date of registering for valuation practice.
2. Other individuals who wish to update their knowledge.
Thus, there are 02 Trainees of valuation professional development: appraisers and other individuals who wish to update their knowledge.
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