Who are accountants? Latest standards for Accountants in Vietnam

Who are accountants? Latest standards for Accountants in Vietnam (Internet image)

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

1. Who are accountants?

According to Clause 1, Article 7 of Circular 29/2022/TT-BTC, accountants are civil servants with basic professional qualifications in accounting working in agencies and organizations; perform the tasks of one or more accounting operations or organize the accounting work in the unit.

2. Latest standards for Accountants in Vietnam

2.1. General standards of quality for Accountants in Vietnam

Specifically, in Article 4 of Circular 29/2022/TT-BTC, the general standards of quality of accountants are specified as follows:

- Firmly grasping the Party's guidelines and lines; loyalty to the Fatherland, Party and State; protect the interests of the Fatherland and the people.

- Fulfilling the obligations of civil servants in accordance with the law; seriously complying with the assignment of tasks by superiors; compliance with law, discipline, and administrative order; exemplary implementation of the agency's rules and regulations.

- Dedication, responsibility, integrity, honesty, objectivity, and fairness; having a proper attitude and behaving culturally when performing tasks and public duties; having communication and service standards;

- Having a healthy, modest, and united lifestyle and activities; needing thrift, integrity, righteousness, justice, and impartiality; not taking advantage of public affairs to seek personal benefits; avoiding bureaucracy, corruption, wastefulness, and negativity.

- Regularly have a sense of learning and training to improve quality, qualifications, and capacity.

2.2. Standards of professional conduct and professional competence for accountants in Vietnam

Standards on the professional capacity of accountants are specified in Clause 3, Article 7 of Circular 29/2022/TT-BTC, specifically as follows:

- Mastering and complying with the provisions of law on accounting, accounting principles, financial regimes, statistics, accounting standards, and relevant economic information;

- Understanding the specific regulations on accounting forms and methods; accounting regimes applied in the state accounting sector;

- Understanding research methods, proposing to implement, supplement, or amend management regulations and professional processes, summarizing and improving management skills, and comprehending domestic and international professional development trends;

- Understanding how to organize and carry out activities pertaining to management regulations, professional processes, voucher rotation processes, and management and administration methods for accounting tasks within the unit;

- Capable of absorbing, comprehending, and employing modern technical means and exchange tools; employing accounting documents, accounting information, accounting software, electronic vouchers, and electronic transactions;

- Having basic information technology skills and using foreign languages or ethnic minority languages for civil servants working in ethnic minority areas as required by the job position.

2.3. Standards on training and retraining qualifications of Accountants in Vietnam

Regarding training and retraining qualifications, accountants must meet the following criteria:

- Having a university degree or higher in accounting, auditing or finance;

- Possessing a certificate of state management knowledge and skills training for civil servants of expert rank and equivalent.

(Clause 4, Article 7 of Circular 29/2022/TT-BTC)

3. Duties of Accountants in Vietnam

According to Clause 2, Article 7 of Circular 29/2022/TT-BTC, accountants have the following duties:

- Recording, calculating, synthesizing, and analyzing accounting data in service of the sections in charge, for the management, direction, and administration of the unit;

- Organizing accounting work, make financial statements, state budget finalization reports and other daily reports; preserving and archiving accounting documents, providing information under the assigned or in charge of the executive part or work;

- Implementing self-inspection of financial and accounting according to regulations;

- Organizing the analysis and assessment of the management and use of assets and funds under their respective management and tasks and propose measures to manage and use economically and efficiently capital or funding sources;

- Participating in research and development of legal documents on accounting; legal documents guiding the accounting professional regime.

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