This is a notable content of the Circular No. 72/2007/TT-BTC guiding the registration and management of accounting practice.
Specifically, according to Circular No. 72/2007/TT-BTC of the Ministry of Finance of Vietnam, disclosure of list of accounting service enterprises and accounting practitioners is as follows:
- Duration of disclosure: In December every year, the professional association(s) authorized by the Ministry of Finance shall inform publicly list of individuals practicing accountancy and accounting service enterprises eligible for accounting service provision already confirmed by professional association(s) to taxation agencies, financial agencies, state securities commission, ministries, sectors and business registration agencies of provinces and cities (where receiving financial statements of units).
- Form of disclosure: Making notice in writing and publish on website, magazines of professional association(s) authorized by the Ministry of Finance.
- Content of disclosure:
+ List of individuals practicing accountancy includes: Full name, professional qualification, number and day of issuing the accounting practice certificate or certificate of auditor, address of transaction office and other relevant information;
+ List of accounting service enterprises eligible for practice includes: Enterprise name, year of establishment, address of head office, quantity of the accounting practitioners and other relevant information.
- Taxation agencies, financial agencies, State Securities Commission, Ministries, sectors, business registration agencies will not accepted financial statements which are made by individuals or accounting service enterprises not be confirmed by professional association(s), concurrently take responsibilities for notifying the Ministry of Finance and professional association(s) about enterprises, organizations, administrative non-business units hired individuals or enterprises which fail to satisfy standards, conditions or have not yet registered the accounting practice so as to act as accountant, act as chief accountant or make financial statements and other accounting services.
- Through inspection, notice of clients or agencies receiving financial statements and if violations involving regulations on accounting practice of individuals practicing accountancy or accounting service enterprises have been clarified, the Ministry of Finance will handle violations of law on accounting in accordance with current regulations.
View more details at Circular No. 72/2007/TT-BTC of the Ministry of Finance of Vietnam, effective from August 07, 2007.
Ty Na
Address: | 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City |
Phone: | (028) 7302 2286 |
E-mail: | info@lawnet.vn |