Vietnam: What does the notice of termination of the accounting service business include? Where is the list of businesses that terminate the accounting services business public?
- What does the notice of termination of the accounting service business include in Vietnam?
- Where is the list of businesses that terminate the accounting services business public in Vietnam?
- What does the composition of the application for the Certificate of eligibility for the provision of accounting services include in Vietnam?
What does the notice of termination of the accounting service business include in Vietnam?
Pursuant to Clause 2, Article 11 of Circular 297/2016 / TT-BTC stipulates as follows:
Article 11. Voluntary termination of accounting service provision
1. The accounting firm must send a notification of the termination of accounting service to the Ministry of Finance within the time limit prescribed in Clause 1 Article 66 of the Law on accounting.
2. The notification of the termination of accounting service provision includes:
a) The day on which the firm officially terminate the accounting service provision;
b) The reasons for the termination of accounting service provision;
c) The reports on the unfinished accounting service contracts
d) The measures and commitments to ensure the lawful rights and interests of clients and other involved parties;
dd) The solutions for settling unfinished accounting contracts and other service contracts (if there are any).
3. The accounting firm shall return the certificates of eligibility for providing accounting service to the Ministry of Finance within 10 days after the day of the termination of the provision of accounting services.
4. The accounting firm is responsible for notifying the clients (units who receive services) and other relevant parties, announcing the termination of provision of accounting services through mass media at least 30 days before the day of the official termination of the provision of accounting services
5. The accounting firm shall not provide any accounting services from the day of termination of accounting service provision.
Thus, according to the provisions on the notice of termination of accounting service business, it includes the following contents:
- The time when the enterprise officially terminates the accounting service business.
- Reasons for termination of accounting services business.
- Reports on unfinished accounting service contracts.
- Measures and commitments to ensure the legitimate rights and interests of customers and related parties.
- Plans and measures for incomplete contracts for accounting services and other services (if any).
Vietnam: What does the notice of termination of the accounting service business include? Where is the list of businesses that terminate the accounting services business public?
Where is the list of businesses that terminate the accounting services business public in Vietnam?
Pursuant to Point c, Clause 1, Article 13 of Circular 297/2016 / TT-BTC stipulates as follows:
Article 13. Disclosing information about accounting firms
1. The Ministry of Finance shall post on its website:
a) The list of accounting firms eligible for providing accounting services;
b) The list of accounting firms that are suspended from providing accounting services, have their Certificates of eligibility for providing accounting services revoked, or receive warnings against unfullfilled conditions for providing audit services;
c) The list of accounting firms that voluntarily suspend or terminate the provision of accounting services.
Thus, according to the regulations on the list of enterprises terminating accounting services business is published on the website of the Ministry of Finance.
What does the composition of the application for the Certificate of eligibility for the provision of accounting services include in Vietnam?
Pursuant to Article 61 of the 2015 Accounting Law of Vietnam, the composition of the dossier of application for a Certificate of eligibility for the provision of accounting services includes:
- An application form for the Certificate of eligibility to provide accounting services.
- Copies of the Certificate of Enterprise Registration, Investment Registration Certificate, or an equivalent document.
- Copies of Certificates of Accounting Practice Registration of accounting practitioners.
- Employment contracts between the accounting firm and accounting practitioners.
- Documents proving capital contribution (for limited liability companies).
- The company’s charter (for partnerships and limited liability companies).
- A written commitment to take responsibility by the foreign firm; documents proving the foreign firm is permitted to provide accounting services (for branches in Vietnam of foreign accounting firms).
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