Criteria for promotion from accountant to principal accountant in Vietnam from October 21, 2024

Criteria for promotion from accountant to principal accountant in Vietnam from October 21, 2024 (Image from the internet)

On September 6, 2024, the Minister of Finance of Vietnam issued Circular 66/2024/TT-BTC defining titles, codes, and professional standards for specialist accounting positions, and the criteria for promotion from accountant to principal accountant in public service providers in Vietnam.

Criteria for promotion from accountant to principal accountant in Vietnam from October 21, 2024

(1) For public service providers nominating public employees to participate in the promotion evaluation:

- There must be a vacancy in the structured professional title hierarchy of the public employees approved by a competent authority;- There should be a need and nomination of public employees to participate in the promotion evaluation.

(2) For public employees nominated to participate in the promotion evaluation:

- Meet all standards and conditions stipulated in Clause 16 Article 1 of Decree 85/2023/ND-CP dated December 7, 2023, of the Government of Vietnam and Article 6 of Circular 66/2024/TT-BTC;

- Hold the position of an accountant and have held this or an equivalent position for at least 9 years (excluding internship and probation), with a minimum of 1 year (12 months) continuously holding the position of accountant up to the date of the submission for the promotion evaluation;

- During the tenure as an accountant or equivalent, must have led or participated in the research and development of at least one (1) document, scientific task from the grassroots level or higher, approved and issued by a competent authority. This includes: legal normative documents or topics, projects, research programs, or professional documents related to finance and accounting, aligning with the demands and tasks of the principal accountant role;

Authorities allowed to issue or approve at the grassroots level include: administrative bodies, political-social organizations, public service providers; Departments, public service providers under the General Department; District-level People's Committees, specialized agencies, public service providers under Provincial and Municipal People's Committees; District-level People's Councils, People's Council Committees in provinces and cities.

Files for participation in research and development of documents, topics, projects, research programs must include: Decision to join the Drafting Board, Drafting Team, or Editorial Team for developing legal normative documents, or an assignment document from a competent authority should no Drafting Board, Drafting Team, or Editorial Team be established. Also, there should be decisions to join a Steering Committee, Chairman's Committee, Drafting Board, or Editorial Assistant Group, Editorial Team, Compilation Team for topics, projects, research programs, professional documents related to finance and accounting, or an assignment document from a competent authority.

More details can be found in Circular 66/2024/TT-BTC which comes into force in Vietnam from October 21, 2024.

Public employees appointed to accounting specialization positions before October 21, 2024, are considered to meet the professional and professional standards of accounting specialization positions as defined in Circular 66/2024/TT-BTC. For higher promotions, they must meet the conditions defined in Circular 66/2024/TT-BTC.

Public employees holding accounting specialization positions with certificates proving completion of training programs as per Clause 4, Article 17 of Decree 101/2017/ND-CP on training and fostering officials and public employees or who were appointed to public employee positions in accounting specialization before June 30, 2022, do not need to participate in training programs according to the professional title standards as per Circular 66/2024/TT-BTC.

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