The Certificate of eligibility to provide accounting services shall be reissued in the following cases

Deadline for issuance of Certificate of eligibility to provide accounting services

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1. Within 15 days from the receipt of the satisfactory application, the Ministry of Finance shall issue the Certificate of eligibility to provide accounting services. If the application is rejected, explanation must be provided in writing.

2. If the application needs clarifying, the Ministry of Finance shall request the applicant to provide explanation. The time limit for issuance of the Certificate of eligibility to provide accounting services begins from the date of receipt of additional documents.

Article 63. Reissuance of Certificate of eligibility to provide accounting services

1. The Certificate of eligibility to provide accounting services shall be reissued in the following cases:

a) 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;

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

2. Application for reissuance of the Certificate of eligibility to provide accounting services:

a) An application form for reissuance of the Certificate of eligibility to provide accounting services;

b) The original Certificate of eligibility to provide accounting services, except for the case in Point b Clause 1 of this Article;

c) Other documents related to reissuance of the Certificate of eligibility to provide accounting services (if any).

3. Within 15 days from the receipt of the satisfactory application, the Ministry of Finance shall reissue the Certificate of eligibility to provide accounting services. If the application is rejected, explanation must be provided in writing.

Article 64. Fees for issuance and reissuance of the Certificate of eligibility to provide accounting services

An accounting firm that is issued or reissued with the Certificate of eligibility to provide accounting services shall pay fees as prescribed by law.

Article 65. Accounting households

1. A business household may provide accounting services after all of the conditions below are satisfied:

a) The household has a certificate of business household registration;

b) The individual or representative of the group of individuals who establish the business household is an accounting practitioner.

2. Accounting households are not required to have the Certificate of eligibility to provide accounting services.

Article 66. Changes to be notified to the Ministry of Finance

1. Within 10 days from the occurrence of any of the changes below, the accounting firm must send a written notification to the Ministry of Finance:

a) Changes to the list of accounting practitioners in the firm;

b) One, some, or all of the conditions for provision of accounting services specified in Article 60 of this Law are not satisfied;

c) Changes to the firm’s name or headquarters’ address;

d) Changes to the Director, General Director, legal representative, or holdings of members/partners;

dd) Suspension of provision of accounting services;

e) Establishment, shutdown, or changes to the names of addresses of the accounting firm’s branches;

g) Total division, partial division, acquisition, consolidation, conversion, or dissolution of the accounting firm.

2. Within 10 days from the occurrence of any of the changes below, the accounting household must send a written notification to the Ministry of Finance: a) Changes to the list of accounting practitioners;

b) Changes to the household’s name;

c) Suspension or termination of accounting service provision.

Article 67. Responsibility of accounting practitioners, accounting firms, and accounting households

1. Perform accounting works as agreed in the contract.

2. Comply with regulations of law on accounting and code of ethics for accountants.

3. Take responsibility to the clients for provided accounting services and pay compensation for any damage caused.

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4. Keep improving professional knowledge and skills, participating in annual refresher courses as prescribed by the Ministry of Finance.

5. Comply with accounting service quality control by the Ministry of Finance or an accounting association authorized by the Ministry of Finance.

6. Buy professional liability insurance as prescribed by the Government.

Article 68. Cases in which provision of accounting services are prohibited

The accounting firm or accounting household must not provide accounting services for another accounting unit when the manager or executive officer of the accounting firm or representative of the accounting household or the person who directly provides accounting services:

1. Is a parent, adoptive parent, spouse, child, sibling of the manager, executive officer, chief accountant of the accounting unit, unless the accounting unit is a private enterprise or limited liability company owned by an individual, and other cases specified by the Government; or

2. Has a economic – financial relationship with such accounting unit; or

3. Does not have adequate professional knowledge or does not satisfy all conditions for provision of accounting services; or

4. Is providing chief accountant’s services for a client who has a economic – financial relationship with such accounting unit; or

5. Is requested by the accounting unit to work against the code of ethics or professional requirements; or

6. Other cases prescribed by law.