Sanction of acts violating provisions on bookkeeping accounts

Article 9. Sanction of acts violating provisions on bookkeeping accounts

dich-vu-thanh-lap-cong-ty-nuoc-ngoai1. A fine of between VND 5,000,000 and 10,000,000 for any of the following acts:

a) Keeping accounts not according to the prescribed contents of bookkeeping accounts;

b) Modifying accounting contents and methods of bookkeeping accounts promulgated by the Finance Ministry or opening additional bookkeeping accounts within the selected system of grade-I bookkeeping accounts without the approval of the Finance Ministry.

2. A fine of between VND 10,000,000 and 20,000,000 for any of the following acts:

a) Failing to correctly apply the system of bookkeeping accounts prescribed for the unit’s branch or domain of activity;

b) Failing to adhere to the system of accounts already approved by the Finance Ministry.

Article 10. Sanction of acts violating provisions on financial statements, settlement reports and disclosure of financial statements

1. A fine of between VND 5,000,000 and 10,000,000 for any of the following acts:

a) Failing to make or making financial statements with insufficient contents according to regulations;

b) Making and presenting financial statements without observing the prescribed method; with unclear or contradictory contents according to regulations;

c) Submitting financial statements, settlement reports to competent State bodies between one and three months later than the set deadline;

d) Disclosing financial statements with insufficient contents according to regulations, including: the annual settlements of state budget revenue and expenditure, and other financial revenues and expenditures; situation of assets, payable debts, equity capital, result of business operation, setting up and use of funds, incomes of laborers;

dd) Disclosing financial statements later than one to three months in comparison with the set deadline.

2. A fine of between VND 20,000,000 and 30,000,000 for any of the following acts:

a) Submitting financial statements, settlement reports to competent State bodies more than three months later than the set deadline;

b) Making financial statements at variance with the figures on accounting books and accounting vouchers;

c) Forging financial statements, falsifying figures in financial statements;

d) Reaching agreement with or compelling other persons to forge financial statements, falsify figures in financial statements;

dd) Deliberately reaching agreement with or compelling other persons to provide or certify untrue information, accounting figures;

e) Disclosing financial statements more than three months later than the set deadline;

g) Information and figures in the disclosed financial statements are untrue;

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h) Submitting financial statements to competent state agencies without enclosed audit reports for cases where audit is required in accordance with law.

3. Additional sanctions:

a) Deprive of the right to use the accountancy practice certificates for persons practicing accountancy from 01 month to 03 months; suspension of provision of accounting service for organizations providing accounting service from 01 month to 03 months, in cases of violations stated in points b, c, d, dd, g Clause 2 of this Article;

b) Confiscation of financial statements for violations specified at Points b, c, d, dd Clause 2 of this Article.