Vietnam’s amendments to annual updates on knowledge for practicing accountants

Vietnam’s amendments to annual updates on knowledge for practicing accountants 

According to the Circular, the annual updates on knowledge for practicing accountants include: 

- Legal regulations on Vietnamese tax and accounting; professional and ethical standards in accounting; accounting practice experience; international accounting standards and international financial statement standards. 

- Legal regulations concerning economy, finance, and audit; management skills; international audit standards; other occupational knowledge and information.

Previously, annual updates on knowledge for practicing accountants included: 

- Legal regulations on Vietnamese accounting and tax and professional and ethical standards in accounting. 

- Legal regulations concerning economy, finance, and audit; management skills and accounting practice experience; international accounting and audit standards; other occupational knowledge and information.

Subjects of annual updates on accounting practice knowledge 

Subjects of annual updates on knowledge are practicing accountants and persons registering the practice of accounting services.  People with newly issued accountant certificates or auditor certificates may register accounting service practice until December 31 of the year following the issuance year without updating their knowledge. However, to ensure conditions for practicing accounting services in the year following the certificate issuance year, from August 16 of the certificate issuance year to August 15 of the following year, practitioners shall satisfy the mandatory requirements for knowledge update hours as prescribed in Article 5 of Circular No. 292/2016/TT-BTC.

See more details in Circular No. 23/2024/TT-BTC, effective as of July 1, 2024. 

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