Currency unit in civil judgment enforcement accounting in Vietnam

Currency unit in civil judgment enforcement accounting in Vietnam (Internet image)

In this regard, LawNet would like to answer as follows;

1. Currency unit in civil judgment enforcement accounting in Vietnam

According to Article 3 of Circular 78/2020/TT-BTC, the monetary unit in civil judgment enforcement accounting is as follows:

- Professional accountants for civil judgment enforcement use Vietnam dong as the currency unit to record in accounting books. In case of receipts and payments in foreign currencies, the books must be recorded in the original currency and converted into Vietnam dong at the accounting exchange rate.

- Gold, silver, and precious stones, when collected or exported for temporary custody or payment to the involved parties, must be kept track of in terms of quantity, weight, and value converted into money according to the accounting unit price and, at the same time, monitored in detail in accordance with each judgment and execution decision.

- In cases where payment must be made in foreign currency or in gold, silver, or gems, the payment shall be made in foreign currency, gold, silver, or gems based on the civil judgment enforcement decision.

In case one of the parties requests payment by other methods than the judgment enforcement decision, the parties shall directly agree on the basis of the quantity stated in the judgment enforcement decision.

- The accounting prices are based on the value of assets and temporarily seized exhibits, as determined by the heads of civil judgment enforcement agencies, enforcers, and accountants on the basis of the price list issued by the People's Committee of the province or centrally run city or the market price at the time of book entry.

In cases where the accounting price cannot be determined, the accounting price shall be recorded according to the conventional price.

Accounting prices are allowed to be rounded up and used during the execution of each specific judgment enforcement decision but cannot be used as a basis for auction, exchange, payment in foreign currencies, gold, silver, gems, and other properties, or as a basis for fee collection.

In case there are grounds to determine the accounting price (increase or decrease), the unit must make an additional book (increase or decrease) the accounting price the difference compared to the previously recorded amount.

- In case gold, silver, gems, foreign currency, and other assets are seized, evidence of the cases pending their handling, is preserved in sealed bags or parcels deposited at the State Treasury;

Or, if it is kept in the custody warehouse of the civil judgment enforcement agency, but the equivalent value cannot be determined, it shall be calculated according to the conventional price for recording in the accounting books on the off-balance sheet account.

- Accounting in kind using the official unit of measurement of the State of Vietnam (such as piece, piece, kg, box, bottle, meter). In cases of necessity, additional units of measurement can be used to check, compare, or serve detailed accounting, but then they must be converted into official units of measurement.

2. Tasks of professional accounting for civil judgment enforcement in Vietnam

Tasks of professional accounting for civil judgment enforcement according to Article 7 of Circular 78/2020/TT-BTC are as follows:

* Accounting duties at the Civil Judgment Enforcement Bureau and Sub-Department:

- Collect and process accounting information and data about civil judgment enforcement activities and the management of money, assets, and material evidence in the course of judgment enforcement. Open accounting books and record arising economic and financial transactions according to regulations.

- Check and monitor the revenues of the subjects; payments and refunds to subjects; payments to the state budget; the situation of fund entry and exit, the management of seized assets and exhibits during the course of judgment enforcement; detect and prevent violations of the law on finance and accounting in civil judgment enforcement.

- Monitor, supervise, and manage the revenues from the execution of the sentences made by the prisons.

- On a monthly, quarterly, and yearly basis, compare the details of the receipts - expenditures, cash in and out, and assets between the accounting books and each enforcer's judgment execution records (if any arise); take measures to promptly and completely handle the backlogs or arising discrepancies in accordance with the provisions of the law on accounting, finance, and civil judgment enforcement.

For completed judgment enforcement records, they must be compared before they are approved and stored.

- Prepare and submit on time and fully professional reports on civil judgment enforcement and financial statements as prescribed; For the Civil Judgment Execution Department, in addition to making reports arising in the province, it must also synthesize data and make professional reports on civil judgment enforcement in the whole province and send it to the General Department of Civil Judgment Enforcement, the Ministry of Justice. .

- Analyze accounting information and data on judgment enforcement in order to help heads of civil judgment enforcement agencies and superior management agencies understand the management of money, assets, and exhibits as well as the enforcement activities of the unit.

- The Civil Judgment Execution Department is responsible for guiding and inspecting the implementation of financial and accounting regimes for civil judgment enforcement in its attached units.

* Duties of accountants at the General Department of Civil Judgment Execution, Ministry of Justice of Vietnam:

- Guide and inspect the implementation of accounting for civil judgment enforcement by lower-level civil judgment enforcement agencies.

- Synthesize professional reports on civil judgment enforcement by the Civil Judgment Execution Departments to report to the leaders of the Ministry of Justice.

- Analyze accounting information and data on judgment enforcement to help leaders of the Ministry of Justice understand the operation status and results of revenue and expenditure on civil judgment enforcement in the whole system.

* When changing accountants, chief accountants, heads of units, or authorized persons for professional accounting activities of judgment enforcement, the unit must organize the handover according to regulations.

At the end of the handover, a handover record must be made. The handover record must fully state the financial situation of professional judgment enforcement activities, including:

Cash balances, money still deposited at banks and treasuries, the collected, payable, and still payable amounts to the judgment debtor according to each judgment enforcement decision, the amount of money already paid to the state budget, and the amounts collected and spent on judgment enforcement according to each judgment enforcement decision.

It is required to hand over the accounting tasks that still need to be resolved and all accounting documents related to the collection and expenditure of judgment enforcement for each judgment enforcement decision. The handover minutes must be fully signed by the relevant parties and witnessed by the head of the unit.

Quoc Dat

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