Vietnam: Responsibilities of accounting firms

11:59, 12/12/2016

The Ministry of Finance of Vietnam issued Circular No. 297/2016/TT-BTC on the issuance, management, and use of Certificates of eligibility for providing accounting services.

According to Circular No. 297/2016/TT-BTC of the Ministry of Finance of Vietnam, when being granted a Certificate of eligibility for providing accounting services, an accounting service enterprise shall have the following responsibilities:

- Maintain the fulfillment of the conditions for being issued with the Certificate of eligibility for providing accounting services throughout the operation.

- Do not falsify the contents of the Certificate of eligibility for providing accounting services.

- Do not lend, lease out, plead, trade, or transfer the Certificate of eligibility for providing accounting services.

- Send a report to the Ministry of Finance within 10 days from the day on which Certificate of eligibility for providing accounting services is lost or damaged.

- Send a written notification (enclosed with documentary evidence) to the Ministry of Finance within 10 days from the day on which the changes prescribed in Clause 1 Article 66 of the Law on Accounting occur.

- Return the Certificate of eligibility for providing accounting services to the Ministry of Finance upon termination of the accounting service provision revocation the Certificate of eligibility for providing accounting services in accordance with effective regulations.

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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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