From October 21, 2024, what are the qualification requirement for accountants in Vietnam?
From October 21, 2024, what are the qualification requirements for accountants in Vietnam?
Pursuant to Article 5 of Circular 66/2024/TT-BTC stipulating the standards for professional titles of accountants (Class III) in Vietnam:
Article 5. Standards for professional titles of accountants (Class III)
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2. Professional ethics standards
Possess professional ethics qualities, honesty, integrity, and awareness of legal compliance.
- Training and education standards
a) Possess a university degree or higher in accounting, auditing, or finance;
b) Possess a certificate of training for the professional title of accountant, or a certificate of auditor according to the provisions of the Law on Independent Auditing, or a Accountant certificate according to the provisions of the Law on Accounting, or a certificate of expert accountant, or a foreign accountant certificate recognized by the Ministry of Finance of Vietnam.
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Accountants in Vietnam must meet the following qualification requirements:
- Hold a university degree or higher in accounting, auditing, or finance
- Possess a certificate of training for the professional title of accountant, or a certificate of auditor, or a Accountant certificate, or a certificate of expert accountant, or a foreign accountant certificate recognized by the Ministry of Finance of Vietnam.
From October 21, 2024, what are the qualification requirements for accountants in Vietnam? (Image from the Internet)
Who is eligible for issuance of Accountant certificate?
Pursuant to Article 57 of the Law on Accounting 2015 stipulating the Accountant certificates in Vietnam:
Article 57. Accountant certificates
Individuals issued a Accountant certificate must meet the following standards:
a) Possess professional ethics qualities, honesty, integrity, and awareness of legal compliance;
b) Hold a university degree or higher in finance, accounting, auditing, or other majors as stipulated by the Ministry of Finance;
c) Pass the examination for the Accountant certificate.
2. Individuals holding a certificate of expert accountant or a foreign accountant certificate recognized by the Ministry of Finance of Vietnam, who pass the examination on Vietnamese economic, financial, and accounting laws, and meet the standards stipulated in point a, clause 1 of this Article, will be issued a Accountant certificate.
3. The Ministry of Finance stipulates the conditions for the examination for the Accountant certificate, and the procedures for issuing and revoking the Accountant certificate.
Individuals issued a Accountant certificate must meet the following standards:
- Possess professional ethics qualities, honesty, integrity, and awareness of legal compliance
- Hold a university degree or higher in finance, accounting, auditing, or other majors as stipulated by the Ministry of Finance
- Pass the examination for the Accountant certificate
What types of business entities are allowed to provide accounting services in Vietnam?
Pursuant to Article 59 of the Law on Accounting 2015 stipulating Accounting firms:
Article 59. Accounting firms
1. Accounting firms shall be established in the following forms:
a) Limited liability companies with two or more members;
b) Partnerships;
c) Private enterprises.
2. An enterprise is only allowed to conduct accounting services when it meets the business conditions stipulated by this Law and is granted a Certificate of Eligibility for Accounting Service Business.
3. Accounting firms are not allowed to contribute capital to establish other Accounting firms, except in the case of capital contribution with foreign Accounting firms to establish an accounting service business in Vietnam.
4. Foreign Accounting firms may conduct accounting services in Vietnam in the following forms:
a) Capital contribution with an accounting service business established and operating in Vietnam to establish an accounting service business;
b) Establishing branches of foreign Accounting firms;
c) Providing services across borders according to the regulations of the Government of Vietnam.
Accounting firms can be established in the following types:
- Limited liability companies with two or more members
- Partnerships
- Private enterprises
