Violations Easily Committed by Accountants and Corresponding Penalties in Vietnam

17:52, 10/07/2024

To support our Customers and Members in understanding common errors that accountants may easily commit to avoid violations in Vietnam, Lawnet respectfully sends our Customers and Members the summary table of errors and corresponding penalties as follows:

ACCOUNTING VIOLATIONS AND CORRESPONDING PENALTIES IN VIETNAM

CATEGORIES OF VIOLATION	ACTS	PENALTIES	LEGAL BASIS (Decree 41/2018/ND-CP)
Violation of general accounting regulations	Misapplication of regulations on language; numbers in accounting	10,000,000 VND to 20,000,000 VND	Clause 1 Article 7
	Misapplication of regulations on currency units in accounting
	Misapplication of regulations on accounting periods
	Misapplication of accounting policies applicable to the unit
	Organizing acts of issuing, publishing accounting standards, auditing standards, accounting policies without authorization	20,000,000 VND to 30,000,000 VND	Clause 2 Article 7
Violation of regulations on accounting vouchers	Accounting voucher forms lacking essential content as prescribed	3,000,000 VND to 5,000,000 VND	Clause 1 Article 8
	Erasing, correcting accounting vouchers
	Signing accounting vouchers with red ink, fading ink
	Signing accounting vouchers using pre-engraved signature stamps
	Not signing payment vouchers per copy
	Preparing accounting vouchers without the required number of copies for each type of accounting voucher	5,000,000 VND to 10,000,000 VND	Clause 2 Article 8
	Signing accounting vouchers without filling in the required content pertaining to the signer’s responsibility
	Signing accounting vouchers without proper authorization
	Signatures of an individual not consistent or not matching the registered signature sample
	Accounting vouchers lacking the required signatures as prescribed
	Not translating accounting vouchers in foreign languages into Vietnamese as required
	Allowing accounting documents, vouchers to be damaged or lost in the process of use
	Forging, falsifying accounting vouchers but not to the extent of being subject to criminal prosecution	20,000,000 VND to 30,000,000 VND	Clause 3 Article 8
	Conspiring or forcing others to forge, falsify accounting vouchers but not to the extent of being subject to criminal prosecution
	Preparing accounting vouchers with inconsistent content among multiple copies for a single economic and financial transaction
	Not preparing accounting vouchers when economic and financial transactions occur
	Preparing duplicate accounting vouchers for a single economic and financial transaction
	Disbursing funds when payment vouchers lack the required signatures of authorized persons as per accounting law regulations
Violation of regulations on accounting books	Creating accounting books without clearly stating the accounting unit's name; book name, date of book creation; date of book closing; lacking signatures of the book preparer, chief accountant, and legal representative of the accounting unit; not numbering pages; not applying stamps overlapping the pages of accounting books on paper	1,000,000 VND to 2,000,000 VND	Clause 1 Article 9
	Not recording accounting books with ink (unless the unit opts for electronic booking), writing over or under, overlapping, or skipping lines; not marking unused parts of the book page; not summing totals when the page is full, not transferring totals to the next page
	Not binding accounting books separately for each accounting period or lacking full signatures and stamps as required after printing on paper (excluding books not required to be printed as per regulations if the unit opts to store accounting books electronically
	Accounting book forms lacking essential content as prescribed
	Incomplete recording of accounting books as per essential content requirements	3,000,000 VND to 5,000,000 VND	Clause 2 Article 9
	Incorrectly correcting errors in accounting books not following prescribed methods
	Not printing out accounting books on paper after closing on electronic means for accounting books required to be printed
	Not opening accounting books at the beginning of the fiscal year or from the unit's establishment date	5,000,000 VND to 10,000,000 VND	Clause 3 Article 9
	Lack of accounting vouchers to justify information and figures recorded in accounting books or figures in accounting books not matching accounting vouchers
	Current year information and figures in accounting books not continuing from the previous year's entries or discontinuous from opening to closing
	Not closing accounting books in cases where accounting law requires closing
	Premature or intentional destruction of accounting books	20,000,000 VND to 30,000,000 VND	Clause 4 Article 9
	Keeping assets, liabilities of the unit or related entities off the books without reaching a level of criminal prosecution	20,000,000 VND to 30,000,000 VND	Clause 4 Article 9
Violation of accounting account regulations	Mispostings in accounting accounts	5,000,000 VND to 10,000,000 VND	Clause 1 Article 10
	Altering the content, accounting methods of accounts or opening new accounts subject to Ministry of Finance approval without approval	5,000,000 VND to 10,000,000 VND	Clause 1 Article 10
	Not following the accounting account system issued or approved by the Ministry of Finance	10,000,000 VND to 20,000,000 VND	Clause 2 Article 10
Violation of regulations on preparing and presenting financial statements	Preparing financial statements lacking essential content or using incorrect templates as prescribed	5,000,000 VND to 10,000,000 VND	Clause 1 Article 11
	Financial statements lacking signatures of the preparer, chief accountant, or legal representative of the accounting unit	5,000,000 VND to 10,000,000 VND	Clause 1 Article 11
	Incomplete preparation of required financial statements	10,000,000 VND to 20,000,000 VND	Clause 2 Article 11
	Using financial statement templates that deviate from standards and accounting policies unless approved by the Ministry of Finance	10,000,000 VND to 20,000,000 VND	Clause 2 Article 11
	Not preparing financial statements as prescribed	20,000,000 VND to 30,000,000 VND	Clause 3 Article 11
	Financial statements not corresponding with figures in accounting books and vouchers
	Preparing and presenting financial statements not adhering to accounting policies and standards
	Forging financial statements, falsifying figures in financial statements but not to the extent of being subject to criminal prosecution	40,000,000 VND to 50,000,000 VND	Clause 4 Article 11
	Conspiring or forcing others to forge financial statements, falsify figures in financial statements but not to the extent of being subject to criminal prosecution
	Intentionally, conspiring, or coercing others to provide, confirm false accounting information and figures but not subject to criminal prosecution
Violation of regulations on submitting and publicizing financial statements	Submitting financial statements to competent state authorities less than 3 months late beyond the prescribed deadline	5,000,000 VND to 10,000,000 VND	Clause 1 Article 12
	Delayed publicizing of financial statements less than 3 months beyond the prescribed deadline	5,000,000 VND to 10,000,000 VND	Clause 1 Article 12
	Publicizing financial statements without complete content as prescribed	10,000,000 VND to 20,000,000 VND	Clause 2 Article 12
	Submitting financial statements to competent state authorities without attaching audit reports where required by law
	Submitting financial statements to competent state authorities 3 months or more late beyond the prescribed deadline
	Publicizing financial statements without attaching audit reports where required by law
	Delayed publicizing of financial statements 3 months or more beyond the prescribed deadline
	Publicizing false accounting information and figures in financial statements	20,000,000 VND to 30,000,000 VND	Clause 2 Article 12
	Providing, publicizing financial statements for use in Vietnam with inconsistent figures in one accounting period	20,000,000 VND to 30,000,000 VND	Clause 2 Article 12
	Not submitting financial statements to competent state authorities	40,000,000 VND to 50,000,000 VND	Clause 3 Article 12
	Not publicizing financial statements as prescribed	40,000,000 VND to 50,000,000 VND	Clause 3 Article 12
Violation of regulations on copying, sealing accounting documents	Not establishing a Council and not preparing "Minutes to determine the accounting documents that cannot be copied" as prescribed	3,000,000 VND to 5,000,000 VND	Article 13
	Copied accounting documents lacking required signatures, stamps (if any) of related organizations and individuals as prescribed
	Temporarily holding, seizing, or sealing accounting documents without proper authorization
	Failing to provide accounting documents to competent state authorities executing temporary holding, seizing, or sealing
Violation of regulations on accounting inspection	Incomplete provision of accounting documents related to the inspection to the inspection team	3,000,000 VND to 5,000,000 VND	Clause 1 Article 14
	Incomplete implementation of inspection team conclusions	3,000,000 VND to 5,000,000 VND	Clause 1 Article 14
	Not complying with the decision of the competent authority for accounting inspections	5,000,000 VND to 10,000,000 VND	Clause 2 Article 14
	Not providing the inspection team with accounting documents related to the inspection content
	Not translating attached documents of accounting vouchers in foreign languages into Vietnamese when requested by competent state authorities
	Not implementing the inspection team's conclusions
Violation of regulations on maintaining and archiving accounting documents	Delayed archiving of accounting documents by 12 months or more beyond the prescribed deadline	Warning	Clause 1 Article 15
	Not arranging accounting documents for archiving in chronological order of occurrence and fiscal year	Warning	Clause 1 Article 15
	Incomplete archiving of accounting documents as prescribed	5,000,000 VND to 10,000,000 VND	Clause 2 Article 15
	Unsafe storage of accounting documents resulting in damage or loss during the archiving period
	Improper use of accounting documents during the archiving period
	Not organizing inventory, classification, restoration of lost or damaged accounting documents
	Destroying accounting documents before the prescribed archiving period as per the Accounting Law but not reaching the level of criminal prosecution	10,000,000 VND to 20,000,000 VND	Clause 3 Article 15
	Not establishing a Destruction Council, not following the prescribed destruction method, and not preparing destruction minutes as required when destroying accounting documents	10,000,000 VND to 20,000,000 VND	Clause 3 Article 15
Violation of regulations on asset inventory	Not preparing a summary report on inventory results or the report lacking required signatures as prescribed	1,000,000 VND to 2,000,000 VND	Clause 1 Article 16
	Not reflecting discrepancies and results of discrepancy handling between actual inventory and accounting book figures	1,000,000 VND to 2,000,000 VND	Clause 1 Article 16
	Not performing asset inventory as prescribed	3,000,000 VND to 5,000,000 VND	Clause 2 Article 16

- Nguyen Trinh -

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- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
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