Who are not allowed to practice accounting in Vietnam? What are standards of accountants in Vietnam?
Who are not allowed to practice accounting in Vietnam? What are standards of accountants in Vietnam? What are standards and conditions for chief accountants in Vietnam?
Who are not allowed to practice accounting in Vietnam?
Pursuant to Article 52 of the Law on Accounting in 2015 stipulating people prohibited from practicing accounting:
People prohibited from practicing accounting
The following people are prohibited from practicing accounting:
1. Minors; people who completely or partly lose their civil capacity as declared by the court; people forcibly sent to reform schools or rehabilitation centers.
2. 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.
3. Parents, adoptive parents, spouses, children, siblings of the legal representative, head, Director, General Director, deputies of the head, Deputy Director, Deputy General Director in charge of finance – accounting, and the chief accountant of the same accounting unit, except for private enterprises, single-member limited liability companies owned by individuals, and other cases specified by the Government.
4. People holding the position of managers, executive officers, treasurers, warehouse-keepers, buyers or sellers of assets in the same accounting unit except for private enterprises, single-member limited liability companies owned by individuals, and other cases specified by the Government.
As regulated above, following entities are prohibited from practicing accounting:
- 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.
- Parents, adoptive parents, spouses, children, siblings of the legal representative, head, Director, General Director, deputies of the head, Deputy Director, Deputy General Director in charge of finance – accounting, and the chief accountant of the same accounting unit, except for private enterprises, single-member limited liability companies owned by individuals, and other cases specified by the Government.
- People holding the position of managers, executive officers, treasurers, warehouse-keepers, buyers or sellers of assets in the same accounting unit except for private enterprises, single-member limited liability companies owned by individuals, and other cases specified by the Government.
Who are not allowed to practice accounting in Vietnam? What are standards of accountants in Vietnam? - image from internet
What are standards of accountants in Vietnam?
Pursuant to Article 51 of the Law on Accounting in 2015 stipulating standards of 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 standards and conditions for chief accountants in Vietnam?
Pursuant to Article 54 of the Law on Accounting in 2015, a chief accountant must meet the standards below:
- Comply with professional ethics, be truthful, integrated, and abide by law;
- Have at least an associate degree in accounting;
- Have a certificate of training in chief accountant’s techniques;
- The holder of a bachelor’s degree in accounting must have at least 02 years’ experience of accounting works; the holder of an associate degree in accounting must have at least 03 years’ experience of accounting works.
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