What are the eligibility requirements for taking exams for accounting practicing certificates in Vietnam? What are standards for accountants in Vietnam?

What are the eligibility requirements for taking exams for accounting practicing certificates in Vietnam?

Pursuant to Article 4 of the Circular 91/2017/TT-BTC stipulating eligibilities for taking exams for accounting practicing certificates in Vietnam:

Eligibility for taking exams

An applicant for audit practicing certificate or accounting practicing certificate must have the following eligibilities:

1. Meet standards in professional ethics, truthfulness, integrity, and high sense of law observance;

2. Obtain at least a bachelor's degree in finance, banking, accounting, or audit; or a bachelor's degree in other majors with total units of study (or classes) of subjects: Finance, accounting, audit, financial activity analysis, or taxation accounting for at least 7% of total units of study (or classes) of the entire course; or obtain a bachelor's degree in other majors and audit or accounting certificates or degrees awarded by international audit or accounting associations as prescribed in Article 9 hereof;

3. Have at least 36 months’ experience in finance, accounting, or audit field, which is determined in the period beginning from the month of graduation specified in the bachelor's degree (or postgraduate degree) to the time of application for taking exams. Actual working time includes the period of working as audit assistant at audit firms, as internal auditor at internal audit department, or as auditor at state audit agencies;

4. Submit sufficient and required application for examination and exam fees as prescribed;

5. Not subject to Clause 1 and Clause 2 Article 52 of the Law on Accounting.

As regulated above, an applicant for accounting practicing certificate must have the following eligibilities:

(1) Meet standards in professional ethics, truthfulness, integrity, and high sense of law observance;

(2) Be subject to one of the following cases:

- Obtain at least a bachelor's degree in finance, banking, accounting, or audit;

- Obtain a bachelor's degree in other majors with total units of study (or classes) of subjects: Finance, accounting, audit, financial activity analysis, or taxation accounting for at least 7% of total units of study (or classes) of the entire course;

- Obtain a bachelor's degree in other majors and audit or accounting certificates or degrees awarded by international audit or accounting associations;

(3) Have at least 36 months’ experience in finance, accounting, or audit field, which is determined in the period beginning from the month of graduation specified in the bachelor's degree (or postgraduate degree) to the time of application for taking exams. Actual working time includes the period of working as audit assistant at audit firms, as internal auditor at internal audit department, or as auditor at state audit agencies;

(4) Submit sufficient and required application for examination and exam fees as prescribed;

(5) Not subject to following cases:

- Minors;

- People who completely or partly lose their civil capacity as declared by the court;

- People forcibly sent to reform schools or rehabilitation centers.

- People banned from practicing accounting under an effective court’s judgment or decision;

- People undergoing criminal prosecution;

- People sentenced to imprisonment or were convicted of economic crimes or other crimes related to finance, accounting and have not had their criminal records expunged.

What are the eligibility requirements for taking exams for accounting practicing certificates in Vietnam? What are standards for accountants in Vietnam? - image from internet

What are standards for accountants in Vietnam?

Pursuant to Article 51 of the Law on Accounting in 2015 stipulating standards for accountants in Vietnam:

Standards, rights and obligations of accountants

1. Every accountant must meet the standards below:

a) Comply with professional ethics, be truthful, integrated, and abide by law.

b) Have professional accounting knowledge and skills.

2. Accountants have the right to perform accounting works independently.

3. Accountants must comply with regulations of law on accounting, perform given tasks, and take responsibility for their performance. When an accountant is replaced, the replaced accountant shall hand over his/her works and documents to the replacing accountant. The replaced accountant is still responsible for the accounting works done during his/her practice.

As regulated above, every accountant must meet the standards below:

- Comply with professional ethics, be truthful, integrated, and abide by law.

- Have professional accounting knowledge and skills.

What are accounting objectives in Vietnam?

Pursuant to Article 4 of the Law on Accounting in 2015 stipulating accounting objectives in Vietnam:

- Collecting, processing accounting information and data according to subjects and contents of accounting works, accounting standards and accounting regime.

- Inspecting, supervising revenues, expenditures, debts; inspecting the management, use of assets and sources of assets; discovering and preventing violations against regulations on finance and accounting.

- Analyzing accounting information and data; advising, proposing solutions for resolving administrative requirements and making of economic, financial decisions of the accounting unit.

- Providing accounting information and data as prescribed by law.

Best regards!