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

Standards for the title of principal accountant (Class III) of public service providers in Vietnam from October 21, 2024 (Internet image)

On September 6, 2024, the Minister of Finance promulgated Circular 66/2024/TT-BTC regulating the titles, codes, professional standards, and promotion criteria for accounting occupational titles from an accountant to a principal accountant in public service providers in Vietnam.

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

According to Article 5 of Circular 66/2024/TT-BTC, the standards for the principal accountant (Class III) position in public service providers in Vietnam are as follows:

- Professional and Operational Competence Standards

+ Thorough understanding and compliance with the Accounting Law 2015, accounting standards, other legal provisions on accounting, accounting principles, related financial policies, statistics, and economic information; capable of concretizing and effectively implementing the guidelines and policies of the Communist Party, and state laws in the assigned field of work.

+ Knowledge of specific regulations on forms and methods of accounting; accounting policies applicable in the state accounting sector.

+ Proficiency in researching, proposing implementation or amendments, revising management regulations, business processes, summarizing and improving management practices, and understanding trends in domestic and international business operations.

+ Ability to organize and implement activities related to management regulations, business processes, document circulation procedures, management methods, and administration tasks related to accounting within the unit.

+ Ability to absorb, grasp, and skillfully use assistive tools, modern technical means to exchange and use accounting documents, accounting information, accounting software, electronic documents, and electronic transactions.

+ Basic information technology skills and proficiency in a foreign language or a minority language applicable for public employees working in minority areas as required by the job position.

- Professional Ethics Standards: Possessing professional ethics, honesty, integrity, and a law-abiding attitude.

- Education and Training Standards

+ A university degree or higher in accounting, auditing, finance;

+ A certificate of professional standards for accounting occupational titles or an auditor certificate as stipulated by the Independent Audit Law 2011 or an accountant certificate as stipulated by the Accounting Law 2015 or a chartered accountant certificate or an accounting certificate issued by a foreign organization or a foreign professional organization recognized by the Ministry of Finance of Vietnam.

- Public employees holding the middle-level accountant title and serving in this position or equivalent for at least 3 years (excluding internship or probation periods), including a minimum of 1 continuous year (12 months) holding the middle-level accountant title, as of the date of submitting the application for promotion in occupational title, are eligible for promotion as per Clause 16, Article 1 of Decree 85/2023/ND-CP.

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

The regulation in Clause 2, Article 26 of Circular 29/2022/TT-BTC by the Minister of Finance of Vietnam, which regulates the numerical codes, professional standards, and salary ranking for officials in the accounting, tax, customs, and reserves specialties, is hereby repealed.

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