Violations against regulations on accounting service provision in Vietnam

Violations against regulations on accounting service provision in Vietnam (Internet image) 

Regarding this issue, LawNet would like to answer as follows:

1. Violations against regulations on accounting service provision in Vietnam

Violations against regulations on accounting service provision in Vietnam according to Article 14 of Circular 297/2016/TT-BTC include:

- Provision of incorrect information or forged documents to obtain the Certificate of eligibility for providing accounting services

- Forging the Certificate of eligibility for providing accounting services or falsifying information on the Certificate of eligibility for providing accounting services.

- Failure to apply for the reissuance of the Certificate of eligibility for providing accounting services in case of changes specified in Clause 1 Article 63 of the Law on Accounting 2015.

+ There is a change in the name, legal representative, Director, General Director, and address of the firm’s headquarters or branch of the foreign accounting firm;

+ The Certificate of eligibility to provide accounting services is lost or damaged.

- Providing accounting services:

+ Before being granted the Certificate of eligibility for providing accounting services.

+ During the mandatory or voluntary suspension period, after the termination of accounting service provision or after the Certificates of eligibility for providing accounting services is revoked;

- Lending or leasing out the Certificate of eligibility for providing accounting services

- Failure to return the Certificate of eligibility for providing accounting services in accordance with regulations.

- Failure to request the business registration authority to remove the “dịch vụ kế toán" (“accounting services”) from the firm’s name by the deadline specified in Clause 5 Article 60 of the Law on Accounting 2015 when it is not granted the Certificates of eligibility for providing accounting services.

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of eligibility to provide accounting services, or the Certificate of eligibility to provide accounting services has been revoked, the accounting firm or branch of a foreign accounting firm must promptly request the business registration authority to remove the phrase “dịch vụ kế toán”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.

2. Regulations on disclosing information about accounting firms in Vietnam

Regulations on disclosing information about accounting service enterprises according to Article 13 of Circular 297/2016/TT-BTC are as follows:

- The Ministry of Finance shall post on its website:

+ The list of accounting firms eligible for providing accounting services;

+ The list of accounting firms that are suspended from providing accounting services, have their Certificates of eligibility for providing accounting services revoked, or receive warnings against unfullfilled conditions for providing audit services;

+ The list of accounting firms that voluntarily suspend or terminate the provision of accounting services.

- Within 30 days from the day on which the Certificate of eligibility for providing accounting services is issued, the accounting firm must make public the information of the certificate of eligibility for providing accounting services prescribed in Points a, b, and c Clause 3 Article 5 of Circular 297/2016/TT-BTC on 3 consecutive issues of a paper or online newspaper.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE