Legal Counselling

Vietnam: Contents included in the notification of the termination of accounting service provision

12:05, 01/01/2017

This content is detailed in Circular No. 297/2016/TT-BTC of the Ministry of Finance of Vietnam on the issuance, management, and use of Certificates of eligibility for providing accounting services.

Specifically, according to Circular No. 297/2016/TT-BTC of the Ministry of Finance of Vietnam, the notification of the termination of accounting service provision includes:

- The day on which the firm officially terminate the accounting service provision;

- The reasons for the termination of accounting service provision;

- The reports on the unfinished accounting service contracts

- The measures and commitments to ensure the lawful rights and interests of clients and other involved parties;

- The solutions for settling unfinished accounting contracts and other service contracts (if there are any).

In which:

- The accounting firm shall return the certificates of eligibility for providing accounting service to the Ministry of Finance within 10 days after the day of the termination of the provision of accounting services.

- The accounting firm is responsible for notifying the clients (units who receive services) and other relevant parties, announcing the termination of provision of accounting services through mass media at least 30 days before the day of the official termination of the provision of accounting services

- The accounting firm shall not provide any accounting services from the day of termination of accounting service provision.

Circular No. 297/2016/TT-BTC of the Ministry of Finance of Vietnam takes effect from January 01, 2017.

- Thanh Lam -

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