What are the conditions for issuance of the Certificate of eligibility to provide accounting services in Vietnam? - Khiet An (Dong Thap)
Conditions for issuance of the Certificate of eligibility to provide accounting services in Vietnam (Internet image)
Regarding this issue, LawNet would like to answer as follows:
Conditions for issuance of the Certificate of eligibility to provide accounting services according to Article 60 of the Law on Accounting 2015 are as follows:
- A multi-member limited liability company shall be granted the Certificate of eligibility to provide accounting services after all of the conditions below are satisfied:
+ The company has a Certificate of Enterprise Registration, Investment Registration Certificate, or an equivalent document as prescribed by law;
+ At least two capital contributors (members) are accounting practitioners;
+ The legal representative, Director or General Director of the company is an accounting practitioner;
+ The accounting practitioners’ holdings in the enterprise, the holdings of members being organizations are conformable with regulations of the Government.
- A partnership shall be granted the Certificate of eligibility to provide accounting services after all of the conditions below are satisfied:
+ The partnership has a Certificate of Enterprise Registration, Investment Registration Certificate, or an equivalent document as prescribed by law;
+ At least two general partners are accounting practitioners;
+ The legal representative, Director or General Director of the partnership is an accounting practitioner.
- A private enterprise shall be granted the Certificate of eligibility to provide accounting services after all of the conditions below are satisfied:
+ The enterprise has a Certificate of Enterprise Registration, Investment Registration Certificate, or an equivalent document as prescribed by law;
+ There are at least two accounting practitioners in the enterprise;
+ The owner of the private company, who holds the position of Director, is an accounting practitioner.
- A branch in Vietnam of a foreign accounting firm shall be granted the Certificate of eligibility to provide accounting services after all of the conditions below are satisfied:
+ The foreign accounting firm is permitted to provide accounting services according to regulations of law of its home country;
+ There are at least two accounting practitioners, including the Director or General Director of the branch;
+ The Director or General Director of the branch does not concurrently hold the position of manager or executive officer of another enterprise in Vietnam;
+ The foreign accounting firm has submitted a document to the Ministry of Finance that it is responsible for every obligations and commitments of the branch in Vietnam.
- Within 06 months from the date of accounting service registration, if the accounting firm or branch of a foreign accounting firm is not granted the Certificate of eligibility to provide accounting services, or the Certificate of eligibility to provide accounting services has been revoked, the accounting firm or branch of a foreign accounting firm must promptly request the business registration authority to remove the phrase “dịch vụ kế toán” (“accounting services”) from its name.
Regulations on accounting firms according to Article 59 of the Law on Accounting 2015 are as follows:
- An accounting firm may be in established in the form of:
+ A multi-member limited liability company; or
+ A partnership; or
+ A private enterprise.
- The firm may only provide accounting services after all conditions specified in this Law are satisfied and the Certificate of eligibility to provide accounting services is obtained.
- The accounting firm must not contribute capital to establishment of another accounting firm, except for contribution of capital together with a foreign accounting firm to establishment of an accounting firm in Vietnam.
- The foreign accounting firm shall provide accounting services in Vietnam in the following manners:
+ Contributing capital together with an existing accounting firm in Vietnam to establish an accounting firm;
+ Establishing branches of the foreign accounting firm;
+ Provide accounting services across the border as prescribed by the Government.
Address: | 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City |
Phone: | (028) 7302 2286 |
E-mail: | info@lawnet.vn |