In Vietnam, is it permissible to erase wrong information in an accounting book?
In Vietnam, is it permissible to erase wrong information in an accounting book? In Vietnam, what are the penalties for erasing information in an accounting book?
I'm currently working as an accountant. I want to know if it is permissible to erase wrong information in an accounting book or not? What are the penalties for erasing information in an accounting book?
In Vietnam, is it permissible to erase wrong information in an accounting book?
Pursuant to Article 27 of the Law on Accounting in 2015 stipulating correcting accounting books as follows:
1. If an error is found in an accounting book, they must not be erased and must be rectified in one of the following manners:
a) Cross out the error, write the correct text or number above, and request the chief accountant to sign next to it;
b) Rewrite the incorrect number in red ink or in round brackets, then write the correct number and request the chief accountant to sign next to it;
c) Issue “chứng từ điều chỉnh" (“corrective note”) and write the difference.
2. If an error is found in an accounting book before the annual financial statement is submitted to a competent authority, rectification must be made in the accounting books of the same year.
3. If an error is found in an accounting book after the annual financial statement is submitted to a competent authority, rectification must be made in the accounting books of the year in which the error is found and explanation must be provided.
4. Rectification of electronic accounting books shall apply the method specified in Point c Clause 1 of this Article.
As regulations above, it is not permissible to erase wrong information in an accounting book. Correcting accounting books shall follow above promulgations.
In Vietnam, what are the penalties for erasing information in an accounting book?
Pursuant to Clause 2, Article 9 of the Decree 41/2018/ND-CP, which stipulates a fine ranging from VND 3.000.000 to VND 5.000.000 shall be imposed in the following cases:
a) The accounting book does not have sufficient primary content;
b) The accounting book is adjusted against the regulated methods;
c) Failure to print the required accounting books after closing the electronic accounting book.
As regulations above, erasing information in an accounting book shall be fined from VND 3.000.000 to VND 5.000.000.
Best regards!
