Standards for the title of principal accountant (Class II) of public service provider in Vietnam from October 21, 2024

Standards for the title of principal accountant (Class II) of public service provider in Vietnam from October 21, 2024

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

Standards for the title of principal accountant (Class II) of public service provider in Vietnam from October 21, 2024

According to Article 6 of Circular 66/2024/TT-BTC, the standards for the principal accountant title (Class II) in public service providers are as follows:

- For professional competence and operational standards:

+ Master the policies and directives of the Communist Party, laws of the State, administrative management, administrative reform, and the policies and directions of the sector and unit regarding accounting; the accounting duties of the unit and the legal provisions on accounting;

+ Clearly understand and comply with the Accounting Law 2015, accounting standards, other legal provisions on accounting, accounting principles, relevant financial policies, statistics, and economic information; have the ability to concretize and effectively implement the policies and directives of the Communist Party, and the legal policies of the State in the assigned work field;

+ Participate in the construction and improvement of institutions; contribute to the drafting of legal documents providing guidance in the field of finance and accounting; accounting policies applied in the state accounting sector and fields;

+ Master the accounting system for different sectors and fields; processes for organizing accounting work; have the ability to manage and efficiently organize accounting tasks in public service providers; grasp fundamental issues on management science, understand production, service, and business practices, socio-economic conditions, and management activities in the fields of accounting and auditing;

+ Implement procedures for accounting operations, document circulation, management methods, and supervision of accounting tasks in public service providers;

+ Have basic IT skills and a command of a foreign language or a minority language as required for the job position, especially for public employees working in minority areas.

- For professional ethics standards: Possess professional integrity, honesty, uprightness, and a strong sense of legal compliance.

- For educational and training standards:

+ Hold a university degree or higher in accounting, auditing, or finance;

+ Possess a certificate of professional title standards for accountants or an auditor's certificate as prescribed by the Law on Independent Audit 2011 or an accountant's certificate as defined by the Accounting Law 2015 or an expert accounting certificate or a foreign accountant certificate recognized by the Ministry of Finance of Vietnam.

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

The regulations in Clause 2 Article 26 of Circular 29/2022/TT-BTC issued by the Minister of Finance of Vietnam, which defines the codes, professional standards, and salary classification for accounting, tax, customs, and reserve officials, are hereby repealed.

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