Guidance on handling accounting documents which are unusable or lost in Vietnam

Guidance on handling accounting documents which are unusable or lost in Vietnam (Internet image)

Article 12 of Circular 96/2010/TT-BTC stipulates the methods of handling accounting documents which are unusable or lost in Vietnam as follows:

• In case accounting documents are lost or completely damaged, the accounting document restoration and handling board shall contact relevant management agencies and organizations and individuals to seek permission for copying these documents. In this case, certification of organizations and individuals that supply documents for copying is required.

• Based on financial statements and other accounting documents of the nearest time which are still kept at relevant management agencies. organizations and individuals, the accounting document restoration and handling board shall determine the balance of each account at the time of reporting. Based on figures on pre-loss inventory of assets, supplies, goods and funds and those on certification and comparison of receivable debts and payable loans with relevant entities, the unit concerned shall re-determine the balance of accounts at the time of occurrence of the loss or damage incident to be recorded in new accounting books.

• For accounting documents and figures which are lost or completely damaged, the accounting document restoration and handling board shall make a list of these documents and figures for certification. In this case, certification must be made by at least 2 members of the restoration and handling board (the head and a member) and. possibly, a representative of any of relevant management agencies (if any). The certifiers shall take responsibility for their certification.

• For accounting documents which are lost or completely damaged, the accounting unit shall base itself on figures on post-loss inventory of assets, supplies, goods and funds and those on debt certification and comparison with relevant units to identify the balance for forwarding to new accounting books. After restoring and handling accounting documents, the accounting unit shall re-make financial statements for submission to superior authorities.

More details can be found in Circular 96/2010/TT-BTC, which comes into force from August 19, 2010.

Nguyen Phu

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