From July 1st, 2024: What documents are included in the application for registration of accounting practice in Vietnam?

From July 1st, 2024: What documents are included in the application for registration of accounting practice in Vietnam?

Pursuant to Article 3 of the Circular 296/2016/TT-BTC (amended by Clause 1 Article 2 of the Circular 23/2024/TT-BTC) stipulating the application for registration of accounting practice in Vietnam:

- An application form for issuance of accounting practice certificates (hereinafter referred to as APC).

- A copy of full-time employment contract at an accounting firm or accounting household business (unless the registrant is not required to have an employment contract by labor law).

- Copy of accountant certificate or auditor certificate. Once accountant certificates or auditor certificates have been integrated into the specialized database and other information systems, the Ministry of Finance shall be responsible for extracting and utilizing information on these accountant certificates or auditor certificates from the mentioned database and information systems, based on the exchange and provision of information between regulatory agencies as per the law.

- A certification of the actual time of working experience in finance, accounting or auditing or other equivalent documentary evidence.

- Two color photos, 3x4cm size, white background, taken within six (06 months) until the submission date of the application for registration of accounting practice.

- A copy of the severance decision or decision on termination of employment contract before registration of accounting practice (if any).

- A copy of work permit in Vietnam if the registrant is a foreigner, unless he/she is not required to have a work permit by Vietnam’s labor law.

- A document proving number of hours of lecture at international audit or accounting associations, if required.

- Proof of payment for appraisal fee to issue the certificate of registration to practice accounting services, unless the appraisal fee has already been paid when the application is submitted through the online public service system.

From July 1st, 2024: What documents are included in the application for registration of accounting practice in Vietnam? - image from internet

What are contents of APC in Vietnam?

Pursuant to Article 7 of the Circular 296/2016/TT-BTC, an APC shall contain at least:

- Full name, year of birth, hometown or nationality, photo of the APC holder;

- Number and date of issue of the accountant's certificate or auditor's certificate;

- Name of the accounting firm or accounting household business where the registrant has worked;

- Number of the APC;

- Validity period of the APC.

In which cases shall APC in Vietnam be invalid?

Pursuant to Article 9 of the Circular 296/2016/TT-BTC, an APC is invalid in any of the following cases:

(1) The validity period of the APC expires.

(2) The APC is revoked.

(3) The accounting practitioner is suspended from performing accounting service.

(4) The accounting practitioner no longer works and terminates the full-time employment contract at an accounting firm or accounting household business stated in the APC.

(5) The full-time employment contract at an accounting firm or accounting household business expires or has variations that make it unsatisfied as a full-time employment contract as prescribed in Article 4.

(6) The work permit in Vietnam of a foreign accounting practitioner expires or is invalid.

(7) The accounting practitioner no longer performs accounting service.

(8) The accounting firm or accounting household business where the accounting practitioner registers is totally or partially divided, acquired or consolidated, ceases operation, disbands or goes bankrupt.

(9) The accounting practitioner is legally incapacitated; faces a criminal prosecution, is convicted of a crime against the law on economics concerning finance or accounting matter; is imposed an administrative or rehabilitation measure at commune level; is taken to a compulsory correctional facility or rehabilitation center; or is convicted of a serious crime against the law on economics.

(10) The accounting practitioner dies or is missing.

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