Circular No. 297/2016/TT-BTC dated November 15, 2016 of the Ministry of Finance on the grant, management and use of certificates of eligibility for provision of accounting services

CIRCULAR

On the grant, management and use of certificates of eligibility for provision of accounting services[1]

Pursuant to Accounting Law No. 88/2015/QH13 of November 20, 2015;

Pursuant to the Government’s Decree No. 215/2013/ND-CP of December 23, 2013, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

At the proposal of the Director of the Department for Accounting and Auditing Regulations,

The Minister of Finance promulgates the Circular on the grant, management and use of certificates of eligibility for provision of accounting services.

Chapter I

GENERAL PROVISIONS

Article 1.Scope of regulation

This Circular prescribes the grant, management and use of certificates of eligibility for provision of accounting services for accounting service enterprises and branches of foreign accounting service enterprises in Vietnam.

Article 2.Subjects of application

1. Accounting service enterprises and branches of foreign accounting service enterprises in Vietnam (below collectively referred to as accounting service enterprises).

2. Organizations and individuals engaged in the grant, management and use of certificates of eligibility for provision of accounting services.

Article 3.Subjects eligible for grant of certificates of eligibility for provision of accounting services

A certificate of eligibility for provision of accounting services shall be granted to a multiple-member limited liability company, partnership, private enterprise or branch of a foreign accounting service enterprise in Vietnam that fully meets the conditions prescribed in Article 60 of the Accounting Law.

Article 4.Principles on making of dossiers

1. Copies of papers and diplomas must be certified by a competent agency in accordance with law.

2. An application for a certificate of eligibility for provision of accounting services must be made in Vietnamese. Papers attached to a foreign-language application must be translated into Vietnamese and translations must be certified in accordance with Vietnam’s law.

3. Papers granted by foreign agencies or organizations or notarized or certified in foreign countries must be consularly legalized in accordance with Vietnam’s law, except cases eligible for exemption of consular legalization under treaties to which the Socialist Republic of Vietnam is a contracting party.

4. Applicants for certificates of eligibility for provision of accounting services shall take responsibility for the accuracy and truthfulness of their dossiers sent to the Ministry of Finance.

Chapter II

SPECIFIC PROVISIONS

Article 5.Grant of certificates of eligibility for provision of accounting services

1. A dossier of application for a certificate of eligibility for provision of accounting services must comply with Article 61 of the Accounting Law.

Multiple-member limited liability companies, partnerships and private enterprises shall make applications according to the form provided in Appendix 1 to this Circular.

Branches of foreign accounting service enterprises in Vietnam shall make applications according to the form provided in Appendix 2 to this Circular.

2. An applicant for a certificate of eligibility for provision of accounting services shall send one dossier set prescribed in Clause 1 of this Article to the Ministry of Finance and pay an appraisal charge for grant of a certificate of eligibility to provide accounting services.

3. A form of certificate of eligibility for provision of accounting services provided in Appendix 3 to this Circular shall contain the following major details:

a/ Name of the accounting service enterprise; foreign-language name of the accounting service enterprise (if any); abbreviated name (if any); address of the head office;

b/ Full name of the at-law representative, full name of the director (general director) of the accounting service enterprise;

c/ Serial number and date of issuance of the certificate of eligibility for provision of accounting services;

d/ Terms and conditions that the accounting service enterprise shall comply with when using the certificate.

4. The time limit for grant of a certificate of eligibility for provision of accounting services must comply with Clause 1, Article 62 of the Accounting Law.

Article 6.Re-grant of certificates of eligibility for provision of accounting services

1. An accounting service enterprise shall carry out procedures for re-grant of its certificate of eligibility for provision of accounting services in the cases prescribed in Clause 1, Article 63 of the Accounting Law.

2. A dossier of application for re-grant of a certificate of eligibility for provision of accounting services in the cases prescribed in Clause 1 of this Article must comply with Clause 2, Article 63 of the Accounting Law.

For the case prescribed at Point a, Clause 1, Article 63 of the Accounting Law, an application for re-grant of a certificate of eligibility for provision of accounting services must comply with the form provided in Appendix 4 to this Circular.

For the case prescribed at Point b, Clause 1, Article 63 of the Accounting Law, an application for re-grant of a certificate of eligibility for provision of accounting services must comply with the form provided in Appendix 5 to this Circular.

3. The accounting service enterprise shall propose the Ministry of Finance to re-grant the certificate within 10 days after occurrence of a change in the contents prescribed at Point a, Clause 1, Article 63 of the Accounting Law or the loss or damage of the certificate is detected. The time limit for re-grant of a certificate of eligibility for provision of accounting services must comply with Clause 3, Article 63 of the Accounting Law.

Article 7.Charge payment

An applicant for grant or re-grant of a certificate of eligibility for provision of accounting services shall pay an appraisal charge for grant of a certificate of eligibility for provision of accounting services under the Ministry of Finance’s regulations.

Article 8.Suspension of provision of accounting services

1. An accounting service enterprise shall be suspended from providing accounting services if falling into one of the cases prescribed in Clause 1, Article 69 of the Accounting Law.

2. The enterprise shall stop providing accounting services during the period of suspension stated in the Ministry of Finance’s suspension decision. After the suspension period expires, if the enterprise meets the prescribed conditions for provision of accounting services, the Minister of Finance shall add the enterprise’s name to the public list of enterprises eligible for provision of accounting services.

Article 9.Revocation of certificates of eligibility for provision of accounting services

1. An accounting service enterprise shall have its certificate of eligibility for provision of accounting services revoked if falling into one of the cases prescribed in Clause 2, Article 69 of the Accounting Law.

2. The enterprise shall stop providing accounting services from the effective date of the Minister of Finance’s decision on revocation of its certificate of eligibility for provision of accounting services.

3. The enterprise shall return its certificate of eligibility for provision of accounting services to the Ministry of Finance within 10 days after receiving the decision on revocation of its certificate.

Article 10.Temporary cease of provision of accounting services

1. An accounting service enterprise shall send to the Ministry of Finance a written notice of temporary cease of provision of accounting services, made  according to the form provided in Appendix 8 to this Circular, within the time limit prescribed in Clause 1, Article 66 of the Accounting Law.

2. The enterprise may not provide accounting services during the period of temporary cease of provision of accounting services.

3. When resuming its operation, the enterprise shall meet the conditions prescribed by law and send a written notice to the Ministry of Finance.

Article 11.Termination of provision of accounting services

1. An accounting service enterprise shall send a written notice of termination of provision of accounting services to the Ministry of Finance within the time limit prescribed in Clause 1, Article 66 of the Accounting Law.

2. The written notice of termination of provision of accounting services contains the following details:

a/ Time when the enterprise officially terminates the provision of accounting services;

b/ Reasons for the termination of provision of accounting services;

c/ Report on accounting service contracts not yet completed;

d/ Measures and commitments to guaranteeing lawful rights and interests of customers and related parties;

dd/ Plans and measures for handling accounting service contracts and other service contracts not yet completed (if any).

3. The enterprise shall return its certificate of eligibility for provision of accounting services to the Ministry of Finance within 10 days after terminating the provision of accounting services.

4. The enterprise shall notify customers (accounting service users) and related parties of, and make announcements on the mass media about, termination of provision of accounting services at least 30 days before the date of official termination of provision of accounting services.

5. The enterprise may not provide accounting services from the date of termination of provision of accounting services.

Article 12.Responsibilities of an accounting service enterprise after being granted a certificate of eligibility for provision of accounting services

1. To maintain conditions for grant of a certificate of eligibility for provision of accounting services during its operation.

2. To refrain from modifying or erasing the certificate of eligibility for provision of accounting services.

3. To refrain from leasing, lending, mortgaging, trading in or transferring the certificate of eligibility for provision of accounting services.

4. To request the Ministry of Finance to re-grant the certificate of eligibility for provision of accounting services within 10 days from the date of finding that its certificate is lost or damaged.

5. To send a written notice (enclosed with written proofs) to the Ministry of Finance within 10 days after occurrence of a change prescribed in Clause 1, Article 66 of the Accounting Law.

6. To return its certificate of eligibility for provision of accounting services to the Ministry of Finance upon terminating the provision of accounting services or having its certificate revoked under regulations.

7. To be subject to examination and inspection by, and abide by violation handling decisions of, competent state agencies with regard to maintenance of conditions for provisions of accounting services and use of the certificate of eligibility for provision of accounting services.

8. Before October 31 annually or at the request of competent agencies, to make reports on the maintenance of conditions for provision of accounting services according to the form provided in Appendix 6 to this Circular to the Ministry of Finance and, currently enclose the documents prescribed in Article 61 of the Accounting Law if having any change against those submitted at the preceding time.

9. Before April 10 annually, to send a report on operation in the preceding year and electronic data according to the form provided in Appendix 7 to this Circular to the Ministry of Finance.

Article 13.Disclosure of information on accounting service enterprises

1. The Ministry of Finance shall disclose the following information on its website:

a/ A list of enterprises eligible for provision of accounting services;

b/ A list of accounting service enterprises subject to suspension of provision of accounting services, having certificates of eligibility for provision of accounting services revoked or being warned of accounting service provision conditions;

c/ A list of accounting service enterprises having temporarily ceased or terminating provision of accounting services.

2. Within 30 days after being granted a certificate of eligibility for provision of accounting services, an accounting service enterprise shall disclose the certificate’s contents prescribed at Points a, b and c, Clause 3, Article 5 of this Circular in 3 consecutive issues of a printed or electronic newspaper.

Article 14.Violations of regulations on provision of accounting services

1. Making untrue declarations or falsifying or forging documents in order to be granted a certificate of eligibility for provision of accounting services.

2. Forging, erasing or tampering with a certificate of eligibility for provision of accounting services.

3. Failing to carry out procedures for re-grant of a certificate of eligibility for provision of accounting services upon occurrence of a change prescribed in Clause 1, Article 63 of the Accounting Law.

4. Providing accounting services:

a/ When having not yet been granted a certificate of eligibility for provision of accounting services;

b/ During the period of suspension from provision of accounting services , after having temporarily ceased or terminated the provision of accounting services or having their certificates of eligibility for provision of accounting services revoked.

5. Leasing or lending certificates of eligibility for provision of accounting services.

6. Failing to return certificates of eligibility for provision of accounting services under regulations.

7. Not being granted certificates of eligibility for provision of accounting services but failing to notify business registration agencies thereof for the latter to delete the phrase “dịch vụ kế toán” (accounting service) from enterprises’ name within the time limit prescribed in Clause 5, Article 60 of the Accounting Law.

Chapter III

IMPLEMENTATION PROVISIONS

Article 15.Effect

1. This Circular takes effect on January 1, 2017.

2. This Circular replaces regulations on registration of accounting service practice by accounting service enterprises prescribed in the Ministry of Finance’s Circular No. 72/2007/TT-BTC of June 27, 2007.

3. The Ministry of Finance shall inspect and supervise the implementation of regulations on provision of accounting services by enterprises in accordance with law.

4. Any problems arising in the course of implementation should be reported to the Ministry of Finance for study, amendment and supplementation as appropriate.

For the Minister of Finance
Deputy Minister
TRAN VAN HIEU

* All appendices to this Circular are not translated.-