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THE
GOVERNMENT
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No.
129/2004/ND-CP
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Hanoi,
May 31, 2004
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DECREE
DETAILING AND GUIDING THE IMPLEMENTATION OF A NUMBER OF
ARTICLES OF THE ACCOUNTING LAW, APPLICABLE TO BUSINESS ACTIVITIES
THE GOVERNMENT
Pursuant to the December 25,
2001 Law on Organization of the Government;
Pursuant to the June 17, 2003 Accounting Law;
Pursuant to the November 26, 2003 Law on State Enterprises; the June 12, 1999 Law
on Enterprises; the November 12, 1996 Law on Foreign Investment in Vietnam; the
June 9, 2000 Law Amending and Supplementing a Number of Articles of the Law on
Foreign Investment in Vietnam; and the November 26, 2003 Law on Cooperatives;
At the proposal of the Finance Minister,
DECREES:
Article 1.-
Regulation scope
This Decree details and guides
the implementation of a number of articles of the Accounting Law, applicable to
the subjects defined in Article 2 of this Decree (hereinafter called business
activities for short).
Article 2.-
Subjects of application
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1. Organizations engaged in
business activities, including:
a) State enterprises;
b) Limited liability companies;
c) Joint-stock companies;
d) Partnerships;
e) Private enterprises;
f) Foreign-invested
enterprises;
g) Branches of foreign
enterprises operating in Vietnam;
h) Representative offices of
foreign enterprises operating in Vietnam;
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j) Individual business
households and cooperation groups.
2. Accountants; accounting
practitioners; other persons involved in business operation accounting.
Article 3.-
Objects of business operation accounting
Pursuant to Clause 3, Article 9
of the Accounting Law, the objects of business operation accounting are
prescribed as follows:
1. Objects of accounting are
fixed and liquid asets, including:
a) Money and money-equivalent
amounts;
b) Receivables;
c) Inventories;
d) Short-term financial
investment;
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f) Long-term financial
investment;
g) Short-term assets and
long-term assets.
2. Objects of accounting are
passive debts, including:
a) Payables to sellers;
b) Payable loans;
c) Payables to employees;
d) Other amounts to be paid, to
be remitted.
3. Objects of accounting are
owners’ capital, including:
a) Owners’ capital;
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c) Undistributed profits.
4. Business revenues and
expenditures; other incomes and expenditures.
5. Taxes and remittances into
the State budget.
6. Trading results and division
thereof.
7. Other assets related to
accounting units.
Article 4.-
Responsibility to manage, use and supply accounting information, documents
Pursuant to Article 16 of the
Accounting Law, the responsibility to manage, use and supply accounting
information and documents is prescribed as follows:
1. The accounting units must formulate
regulations on management, use and preservation of accounting documents,
clearly defining the responsibilities and rights of each section and each
accountant; the accounting units must ensure adequate material foundations and
means for management and preservation of accounting documents.
2. The accounting units have the
responsibility to supply accounting documents to tax offices and competent
State bodies performing the functions of inspection, examination, investigation
and auditing according to law provisions. The agencies supplied with accounting
documents shall have to keep and preserve the accounting documents while using
them and must return in full and on time the used accounting documents.
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Article 5.-
Forms of accounting vouchers
Pursuant to Clause 2, Article 19
of the Accounting Law, the forms of accounting vouchers are prescribed as
follows:
1. Forms of accounting vouchers
include compulsory accounting voucher forms and guiding accounting voucher
forms.
a) The compulsory accounting
voucher forms are those with contents and structures being prescribed by
competent State bodies, which the accounting units must strictly comply with in
terms of their forms, contents, methods of inscribing norms and be uniformly
applied to accounting units or each specific accounting unit.
b) The guiding accounting
voucher forms are those prescribed by competent State bodies; apart from the
contents prescribed in the forms, the accounting units may add norms or change
forms and tables to suit the recording and managerial requirements of units.
2. The Finance Ministry
prescribes the lists and forms of compulsory accounting vouchers, the lists and
forms of guiding accounting vouchers; and provides for the printing and
issuance of accounting voucher forms.
Article 6.-
Electronic vouchers
Pursuant to Clause 2, Article 18
of the Accounting Law, the electronic vouchers are prescribed as follows:
1. The electronic vouchers must
fully contain the contents prescribed for the accounting vouchers and be
encrypted to ensure electronic data safety in the course of processing,
transmission and archival.
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3. For the electronic vouchers,
the confidentiality must be ensured and the data and information must be
preserved in the course of use and archival; there must be measures to manage and
examine against all forms of exploiting, accessing, copying, stealing or using
electronic vouchers in contravention of regulations. When being preserved, the
electronic vouchers shall be managed like accounting documents in the original
state created, transmitted or received, but there must be adequate appropriate
equipment for use when necessary.
Article 7.-
Conditions on the use of electronic vouchers
Pursuant to Clause 2, Article 18
of the Accounting Law, the conditions on the use of electronic vouchers are
prescribed as follows:
1. The organizations providing
payment services, accounting or auditing services and using electronic vouchers
must satisfy the following conditions:
a) Having locations, information
transmission channels, information networks, information transmission
equipment, which satisfy the requirements of exploitation, control, management,
use, preservation and archival of electronic vouchers;
b) Having the contingent of
executive personnel possessing qualifications and capability corresponding to
the technical requirements in order to carry out the process of elaborating and
using electronic vouchers according to the accounting and payment process;
c) Complying with the
regulations prescribed in Clause 2 of this Article.
2. Organizations and individuals
using electronic vouchers and conducting electronic payment transactions must
satisfy the following conditions:
a) Acquiring the electronic
signatures of the representatives at law, the persons authorized by their
representatives at law;
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c) Committing that the
activities occurring due to their established electronic vouchers are
compatible and compliant with regulations.
Article 8.-
Electronic voucher value
Pursuant to Clause 2, Article 18
of the Accounting Law, the electronic voucher value is prescribed as follows:
1. When a paper voucher is
converted into an electronic voucher for transaction, payment, the electronic
voucher shall be valid for the performance of economic and/or financial
operation and then the paper voucher is only valid for archival for monitoring
and examination, but not for transaction, payment.
2. When an electronic voucher
has been used with the performance of an economic and/or financial operation
and converted into a paper voucher, such paper voucher is only valid for
archival for recording the accounting books, monitoring and examination, but
not for transaction, payment.
3. The conversion of paper
vouchers into electronic vouchers or vice versa must comply with the
regulations on compilation, use, control, processing, preservation and archival
of electronic vouchers and paper vouchers.
Article 9.-
Electronic signatures on electronic vouchers
Pursuant to Clause 4, Article 20
of the Accounting Law, the electronic signatures are prescribed as follows:
1. Electronic signatures are
information in electronic form, which are properly associated with electronic
data in order to establish the relations between the senders and the contents
of such electronic data. The electronic signatures certify that the senders
have accepted and taken responsibility for the information contents in the
electronic vouchers.
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3. In case of changing the
deciphering technicians, the secret codes, electronic signatures and
confidentiality passwords must be changed and the parties involved in electronic
transactions must be notified thereof.
4. The persons assigned to
manage, use secret codes, electronic signatures, confidentiality passwords must
keep secret and are answerable to law if they disclose them, causing material
losses to the units and the parties involved in transactions.
Article 10.-
Sale invoices
Pursuant to Clauses 1 and 4 of
Article 21 of the Accounting Law, cases where goods sales and sale proceeds
must not be recorded in sale invoices are prescribed as follows:
1. Business organizations and
individuals that use sale invoices, when retailing goods or providing a single
service with value lower than the level prescribed by the Finance Ministry,
they must not make sale invoices exept where the goods purchasers request the
invoices which, in this case, must be made and handed strictly according to
regulations. Retail goods or single service provision with value below the
prescribed levels, though not being subject to invoice making, must be listed
or can be invoiced according to regulations for use as accounting vouchers. In
case of making lists of retail goods, services, at the end of each day, the
sale invoices must be made according to regulations on the basis of the general
data of the lists.
2. Organizations and
individuals, when buying products or goods or being provided with services, are
entitled to request the sellers or service providers to make the invoices and
hand the second copy thereof to them for use and archival as prescribed, and at
the same time have the responsibility to check the contents of the norms
inscribed in the invoices and refuse to take the invoices inscribed with wrong
details, with values in disparity with the kept invoice copies of the sellers.
3. Organizations and individuals
that print sale invoices by themselves must obtain the Finance Ministry’s
written prior approval. Organizations and individuals allowed to print invoices
by themselves must have invoice-printing contracts with the organizations which
undertake the printing, which clearly state the volume, signs and serial
numbers of the invoices. After each invoice printing or upon the conclusion of
printing contracts, the liquidation of printing contracts must be effected.
4. Accounting units must use
sale invoices strictly according to regulations; must not buy, sell, exchange
or donate invoices or use invoices of other organizations or individuals; must
not use invoices for declaration to evade tax; must open monitoring books, work
out regulations on management, have facilities to preserve and archive invoices
strictly according to law provisions; must not let invoices be damaged or lost.
Where invoices are damaged or lost, they must notify such in writing to the tax
offices of the same level.
Article 11.-
Copied accounting vouchers
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1. The copied accounting
vouchers must be copied from the originals, signed and stamped for
certification by the representatives at law of the accounting units where the
originals are kept or by competent State bodies which decide on the temporary
seizure or confiscation of the accounting documents.
2. The accounting vouchers shall
be copied only in the following cases where:
a) The accounting units have
foreign loan or foreign aid projects and have to submit the originals to
foreign donors as committed. For this case, the copied vouchers must bear the
certification signatures and seals of the representatives at law of the donors
or the accounting units;
b) The accounting units have the
originals of their accounting vouchers temporarily seized or confiscated by
competent State bodies. For this case, the copied vouchers must bear the
certification signatures and seals of the representatives of the competent
State bodies which decide to temporarily seize or confiscate the accounting
vouchers as provided for in Article 26 of this Decree.
c) Accounting vouchers have been
lost or damaged due to objective causes such as natural calamities, fires. For
this case, the accounting units must go to the goods or service-purchasing or-
selling units and other relevant units to ask for permission to make copies of
their lost accounting vouchers. The copied accounting vouchers must bear the
certification signatures and seals of the representatives at law of the
purchasing or selling units or other accounting units;
d) Other cases prescribed by
law.
Article 12.-
Translation of accounting vouchers into Vietnamese
Pursuant to Article 19 of the Accounting
Law, the inscriptions on the accounting vouchers are prescribed as follows:
1. The accounting vouchers which
have arisen outside the Vietnamese territory and been written in foreign
languages, when being used for book-entries in Vietnam, must be translated into
Vietnamese.
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3. The Vietnamese translations of
vouchers must be enclosed with their orignals in foreign languages.
Article 13.-
Selection and concretization of accounting books
Pursuant to Clause 2 of Article
2, and Article 26, of the Accounting Law, the concretization of accounting
books is stipulated as follows:
1. The general accounting books
and the detail accounting books selected by the accounting units must be opened
fully, ensuring the capacity for comparison and synthesis of accounting data
and the making of financial statements.
2. The selected accounting books
must be uniformly used in an yearly accounting period.
3. The representative offices of
foreign enterprises operating in Vietnam, individual business households and
cooperation groups, which are prescribed at Points h and j, Clause 1, Article 2
of this Decree, shall make accounting books according to regulations of the
Finance Ministry.
Article 14.-
Computerized book-entries
Pursuant to Clause 7, Article 27
of the Accounting Law, the computerized book-entries are stipulated as follows:
1. Where the accounting units
computerize their book-entries, the selected accounting softwares must meet the
prescribed standards and conditions, ensuring the capacity for comparison and
synthesis of accounting data and the making of financial statements.
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Article 15.-
Financial statement-making schedules
Pursuant to Clause 3, Article 29
and Clause 1, Article 30 of the Accounting Law, the financial statement-making
schedules are prescribed as follows:
1. The business accounting units
must make financial statements at the end of the annual accounting period.
2. The accounting units subject
to division, separation, consolidation, merger, ownership transformation, dissolution,
operation termination or bankruptcy must make financial statements at the time
of division, separation, consolidation, merger, ownership transformation,
dissolution, operation termination or bankruptcy.
3. For State enterprises, in
addition to annual financial statements, they must also make quarterly
financial statements.
Article
16.- Making general financial statements or consolidated financial
statements
Pursuant to Clause 2, Article 30
of the Accounting Law, the making of general accounting statements or
consolidated accounting statements is stipulated as follows:
1. Accounting units with
attached accounting units shall, apart from making their own financial
statements, have to make the general financial statements or consolidated
financial statements at the end of the annual accounting period, based on the
financial statements of their attached accounting units.
2. The parent companies must
make consolidated financial statements at the end of the annual accounting period
as provided for by the Finance Ministry.
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4. The Finance Ministry shall
specify the making of general financial statements and consolidated financial
statements of the accounting units having attached accounting units.
Article 17.-
Abbreviated monetary units and rounding figures when making financial
statements or publicizing financial statements
Pursuant to Articles 11 and 30
of the Accounting Law, the abbreviated monetary units in making financial
statements or publicizing financial statements are prescribed as follows:
1. The accounting units, when
making general financial statements or consolidated financial statements from
the financial statements of their attached accounting units and if appearing
reporting figures of more than 9 numerals, may opt to use the abbreviated
monetary unit of thousand dong (1,000 dong) or million dong (1,000,000 dong)
for making financial statements.
2. The accounting units, when
publicizing the financial statements, may use the abbreviated monetary unit of
thousand dong or million dong prescribed in Clause 1 of this Article.
3. When using the abbreviated
monetary units, the accounting units may round up the figures by the following
way: the numeral following the abbreviated monetary unit, if being five (5) or
bigger, shall be added with one (1) unit; if it is smaller than five (5), it
shall not be counted.
Article 18.-
Conversion of financial statements of accounting units operating overseas
Pursuant to Articles 29, 30 and
31 of the Accounting Law, cases where accounting units operating overseas send
their financial statements back to Vietnam are prescribed as follows:
Accounting units operating
overseas, when sending their financial statements to their superior accounting
units in Vietnam, must inscribe them in the foreign currency(ies) used for
book-entries, and at the same time convert such foreign currency(ies) into
Vietnam dong according to the Finance Ministry’s regulations and translate them
into Vietnamese.
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Pursuant to Article 31 of the
Accounting Law, the recipients of financial statements are prescribed as
follows:
1. The financial statements of
the business accounting units must be submitted to the tax offices, the
statistical bodies and the business registration certificate-granting agencies
of the same level as well as other agencies as prescribed by law.
2. For State enterprises, their
financial statements must also be submitted to the finance bodies of the same
levels.
3. The attached accounting units
must also submit their financial statements to their superior accounting units.
Article
20.- Time limits for submitting financial statements
Pursuant to Article 31 of the
Accounting Law, the time limits for submitting financial statements are
prescribed as follows:
1. For State enterprises:
a) The time limit for submitting
their quarterly financial statements:
- The accounting units must
submit their quarterly financial statements within 20 days as from the end of
such quarter; for State corporations, it is within 45 days;
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b) The time limit for submitting
their annual financial statements:
- The accounting units must submit
their annual financial statements within 30 days as from the end of the annual
accounting period; for the State corporations, it is within 90 days;
- The accounting units attached
to State corporations shall submit their annual financial statements to their
respective corporations within the time limits prescribed by the such
corporations.
2. For enterprises of other
types:
a) The accounting units of
private enterprises or partnerships must submit their annual financial
statements within 30 days as from the end of the annual accounting period; for
other accounting units, the time limit for submitting the annual financial
statements is 90 days;
b) The attached accounting units
shall submit their annual financial statements to their superior accounting
units within the time limits prescribed by the latter.
Article 21.-
Time limits for publicizing annual financial statements
Pursuant to Clause 2 of Article
32 and Article 33 of the Accounting Law, the time limits for publicizing annual
financial statements are prescribed as follows:
1. For State enterprises:
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b) The accounting units under
State corporations must publicize the annual financial statements within the
time limits prescribed by their respective corporations, which, however, must
not longer than 90 days.
2. For enterprises of other
types:
a) The accounting units of
private enterprises or partnerships must publicize the annual financial
statements within the time limit of 60 days as from the end of the annual
accounting period; for other enterprises, the time limit for publicizing the
financial statements shall not exceed 120 days;
b) The attached accounting units
must publicize the annual financial statements within the time limits
prescribed by their superior accounting units.
Article
22.- Submitting and publizing financial statements of accounting units with
attached accounting units
Pursuant to Article 33 of the
Accounting Law, the submission and publicization of financial statements of
accounting units having attached accounting units are prescribed as follows:
1. The accounting units with
attached accounting units, including State corporations and parent companies,
when submitting the general financial statements or the consolidated financial
statements, shall have to submit also the financial statements of their attached
accounting units and the financial statements of the affiliate companies.
2. The accounting units defined
in Clause 1 of this Article, when publicizing the general financial statements
or the consolidated financial statements, shall have to also publicize the
financial statements of the attached accounting units and the financial
statements of the affiliate companies.
Article 23.-
Cases of exemption from making, submitting financial statements
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1. The accounting units exempt
from making and submitting financial statements include: representative offices
of foreign enterprises operating in Vietnam, individual business households and
cooperation groups, which are defined at Point h, j, Clause 1, Article 2 of
this Decree.
2. The accounting units
prescribed in Clause 1 of this Article shall still have to make the written tax
payment declarations according to law provisions.
Article 24.-
Agencies competent to decide on accounting examination
Pursuant to Article 35 of the
Accounting Law, the agencies competent to decide on accounting examination are
defined as follows:
1. The Ministry of Finance,
other ministries, ministerial-level agencies, Government-attached agencies and
other central bodies shall, within the scope of their respective tasks and
powers, decide to examine the accounting by accounting units in the domains
assigned to them for management.
2. The provincial/municipal
People’s Committees shall, within the scope of their tasks and powers, decide
to examine the accounting by accounting units in their respective localities.
3. The superior accounting
units, including the State corporations, shall decide to examine the accounting
by their attached accounting units.
Article 25.-
Agencies competent to examine the accounting
Pursuant to Article 35 of the
Accounting Law, the agencies competent to examine the accounting are defined as
follows:
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2. The State inspection bodies,
the finance inspectorates, the State audit and the tax offices, when performing
the tasks of examination, inspection and auditing of accounting units, shall
have the right to examine the accounting.
Article 26.-
Sealing, temporary seizure and confiscation of accounting documents
Pursuant to Clause 3, Article 22
and Clause 2, Article 40 of the Accounting Law, the sealing, temporary seizure
and confiscation of accounting documents are stipulated as follows:
1. Where the competent State
bodies decide on the sealing of accounting documents according to law
provisions, the accounting units and the representatives of the State bodies
competent to perform the task of sealing the accounting documents must make
records on sealing of accounting documents. Such records must clearly state the
sealing reasons, volumes, types and accounting periods of the sealed accounting
documents. The representatives at law of the accounting units, the
representatives of the State bodies competent to seal accounting documents must
sign and stamp on the records on sealing of accounting documents.
2. Where the competent State
bodies temporarily seize or confiscate accounting documents, the accounting
units and representatives of the State bodies competent to perform the task of
temporarily seizing or confiscating the accounting documents must make records
on hand-over and reception of accounting documents. Such records must clearly
state the reasons therefor, the types, volume of each type of documents, the
present conditions of each type of temporarily seized or confiscated accounting
documents; if temporarily seized, clearly state the time for use, the time for
return of the accounting documents. The representatives at law of the
accounting units and the representatives of the State bodies competent to
temporarily seize or confiscate accounting documents must sign and stamp the
records on hand-over and reception of accounting documents; and at the same
time have to photocopy the seized or confiscated accounting documents and the
photocopied accounting documents must be signed and stamped for certification
by representatives of the State bodies competent to temporarily seize or
confiscate the accounting documents. For computerized accounting vouchers,
accounting books and financial statements, which have not yet been printed out
on paper, the competent State bodies request the accounting units to print them
out on paper and carry out the procedures prescribed for accounting documents
before the temporary seizure or confiscation.
Article
27.- Types of accounting documents which must be archived
Pursuant to Article 40 of the Accounting
Law, the types of accounting documents which must be archived include:
1. Accounting vouchers;
2. Detail accounting books,
general accounting books;
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4. Other documents relating to
accounting besides those prescribed in Clauses 1, 2 and 3 of this Article,
including: assorted contracts; decisions to supplement capital from profits;
distribution of funds from profits; decisions on tax exemption, reduction,
reimbursement, retrospective tax collection, inventorying result and asset
valuation reports; documents related to examinations, inspections, audit;
documents related to dissolution, bankruptcy, division, separation, merger,
operation termination; ownership transformation.
Article 28.-
Accounting document preservation and archival
Pursuant to Article 40 of the
Accounting Law, the preservation and archival of accounting documents are
stipulated as follows:
1. Accounting documents must be
fully and safely preserved by accounting units in the course of use. The
accountants must preserve their own accounting documents in the course of use.
2. The archived accounting
documents must be the originals as prescribed by law for each type of
accounting documents. Where accounting documents are temporarily seized,
confiscated, lost or destroyed, there must be the records thereon enclosed with
the copies of the temporarily seized, confiscated, lost or destroyed accounting
documents. For an accounting document of which only one original is available
while it needs to be archived at two places, one of these two places may keep
the copied document according to provisions of Article 11 of this Decree.
3. The representatives at law of
the accounting units shall have to organize the preservation and archival of accounting
documents and are responsible for the safety, adequacy and legality of the
accounting documents.
4. The accounting documents to
be archived must be adequate, systematic, classified, arranged in separate
dossier sets according to the temporal order of appearance and the annual
accounting period.
Article 29.-
Accounting document-archiving places
Pursuant to Article 40 of the
Accounting Law, the accounting document-archiving places are prescribed as
follows:
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2. The accounting documents of
foreign-invested enterprises, branches and representative offices of foreign
enterprises operating in Vietnam, during the period of operating in Vietnam
under their granted investment licenses or establishment permits, must be
archived at the accounting units in the territory of the Socialist Republic of
Vietnam. When foreign-invested enterprises, branches or representative offices
of foreign enterprises operating in Vietnam terminate their operations in
Vietnam, the accounting documents shall be archived at places decided by the
representatives at law of the accounting units.
3. The accounting documents of
dissolved or bankrupt units, including accounting documents of various annual
accounting periods still being in the archival time limits and the accounting
documents related to the dissolution or bankruptcy shall be archived at places
decided by the representatives at law of the accounting units.
4. The accounting documents of
units subject to equitization or ownership transformation, including accounting
documents of various annual accounting periods still being in the archival time
limits and the accounting documents related to equitization or ownership
transformation shall be archived at the accounting units being new owners or at
places decided by the agencies competent to decide on the equitization or
ownership transformation.
5. For accounting documents of
the annual accounting periods which are still being in the archival time limits
of units which are divided or separated into two or more new units: If the
accounting documents can be divided to new accounting units, they shall be
divided and archived at new units; if they are indivisible, they shall be
archived at the dividing or separating accounting units or at places decided by
agencies competent to decide on the unit division or separation. The accounting
documents related to division or separation shall be archived at the newly
divided or separated accounting units.
6. The accounting documents of
various annual accounting periods, which are still being in the archival time
limits, and the accounting documents related to merger of accounting units
shall be archived at the merging units.
7. The accounting documents on
national security and defense must be archived according to law provisions.
Article 30.-
Accounting documents which must be archived for at least 5 years
Pursuant to Article 40 of the
Accounting Law, the accounting documents, which must be archived for at least 5
years, include:
1. Accounting documents used for
regular management and administration of accounting units, not directly for
book entries and making of financial statements shall be archived for at least
5 years as from the end of the annual accounting period, including revenue
bills, expenditure bills, warehousing bills, ex-warehousing bills, which are
not kept in the files of accounting documents of the Accounting Sections.
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Article
31.- Accounting documents which must be archived for at least 10 years
Pursuant to Article 40 of the
Accounting Law, the accounting documents which must be archived for at least 10
years, include:
1. Accounting vouchers used
directly for book-entries and making of financial statements, lists, detail
comprehensive sheet, detail accounting books, general accounting books,
monthly, quarterly and annual financial statements of accounting units, records
on destruction of accounting documents and other documents relating to
book-entries and the making of financial statements, including auditing reports
and accounting examination reports.
2. Accounting documents related
to liquidation of fixed assets.
3. Accounting documents of
investing units, including accounting documents of annual accounting periods
and accounting documents on reports on settlement of investment capital of
completed projects.
4. Accounting documents related
to the establishment, division, separation, consolidation, merger, ownership
transformation, dissolution, operation termination, bankruptcy of accounting
units.
5. Other accounting documents of
the accounting units, used in a number of cases, which, according to law
provisions, must be archived for more than 10 years, shall be archived
according to such regulations.
6. Documents and dossiers on
auditing of financial statements of independent auditing organizations.
Article
32.- Accounting documents which must be archived indefinitely
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1. Accounting documents of
historic characters, of important significance for economy, national security
and/or defense. The determination of accounting documents to be archived
indefinitely shall be decided by the representatives at law of the accounting
units, based on the historic characters and long-term significance of the
documents, information to decide on each specific case, which shall be assigned
to accounting sections or other sections to archive in form of original copies
or other forms.
2. The indefinite archival
duration must be more than 10 years until the accounting documents naturally
decay or are destroyed under decisions of the representatives at law of the
accounting units.
Article 33.-
Archival of electronic vouchers
Pursuant to Articles 18 and 40
of the Accounting Law, the archival of electronic vouchers is stipulated as
follows:
1. Electronic vouchers being
magnetic tapes, magnetic discs, payment cards must be arranged according to the
temporal order, be preserved with adequate technical means against detoriation
of electronic vouchers and against illegal information access from the outside.
2. The electronic vouchers,
before being archived, must be printed out on paper for archival according to
regulations on accounting document archival. In cases where electronic vouchers
are archived in original copies on special equipment, the appropriate
information-reading equipment must be archived to ensure the exploitation
thereof when necessary.
3. The time, time limits, places
for archival and destruction of electronic vouchers shall comply with the
provisions in Articles 28, 29, 30, 31, 32, 34, 35 and 36 of this Decree.
Article 34.-
The time for calculation of time limits for archival of accounting documents
Pursuant to Article 40 of the
Accounting Law, the time for calculation of time limits for archival of
accounting documents is prescribed as follows:
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2. The time for calculation of
the time limit for archival of the accounting documents prescribed in Clause 3,
Article 31 of this Decree, shall be counted from the date the reports on
settlement of investment capital of completed projects are approved.
3. The time for calculation of
the time limit for archival of the accounting documents prescribed at Clause 4
and the auditing documents and dossiers prescribed in Clause 6, Article 31 of
this Decree, shall be counted from the date the work is completed.
Article
35.- Destruction of accounting documents
Pursuant to Article 40 of the
Accounting Law, the destruction of accounting documents is stipulated as follows:
1. The accounting documents with
their archival time limit having expired shall be allowed to be destroyed under
decisions of the representatives at law of the accounting units, except where
the competent State bodies issue decisions.
2. The archived accounting
documents of any accounting units shall be destroyed by such accounting units.
3. Depending on the practical
conditions of each accounting unit for destruction of accounting documents by
their own selected modes: The accounting documents classified as secret shall
be destroyed by ways of burning, mechanically or manually shredding or cutting,
ensuring that the information and/or data on the destroyed accounting documents
cannot be reused.
Article 36.-
Procedures for destruction of accounting documents
Pursuant to Article 40 of the
Accounting Law, the procedures for destruction of accounting documents are
prescribed as follows:
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2. The accounting
document-destroying councils must inventory, evaluate and classify the
accounting documents, make the lists of to be-destroyed accounting documents
and the records on destruction of expired accounting documents.
3. The records on destruction of
expired accounting documents must be made immediately after the destruction of
the accounting documents and must be clearly inscribed with the contents: the
types of accounting documents already destroyed, the archival duration of each
type, the destruction mode, conclusions and signatures of members of the
destruction councils.
Article 37.-
Arrangement and removal of chief accountants
Pursuant to Clause 2, Article 48
of the Accounting Law, the arrangement and removal of chief accountants are
stipulated as follows:
1. All accounting units defined
in Clause 1, Article 2 of this Decree must arrange persons to work as chief
accountants, except the representative offices of foreign enterprises operating
in Vietnam, individual business households and cooperation groups defined at
Points h and j, Clause 1, Article 2 of this Decree which are not compelled to
arrange persons to work as chief accountants, but are allowed to appoint
persons in charge of accounting.
2. Upon their establishment, the
accounting units must immediately arrange persons to work as chief accountants.
In case of the absence of chief accountants, the competent authorities must
immediately arrange new chief accountants. In case of unavailability of persons
who meet the criteria and conditions for appointment to be chief accountants,
they must appoint persons in charge of the accounting or hire chief accountants.
For State enterprises, limited liability companies, joint-stock companies,
foreign-invested enterprises and cooperatives, they are only allowed to appoint
persons in charge of the accounting for a maximum duration of one fiscal year,
then later have to arrange people to work as chief accountants.
3. The arrangement and removal
of chief accountants shall comply with the law provisions applicable to each
type of enterprises.
4. Upon change of chief
accountants, the representatives at law of accounting units must organize the
hand-over of work and accounting documents between the former chief accountants
and the new chief accountants, and at the same time notify the relevant
sections in the units and the banks where they open transaction accounts of the
full names and signature specimens of the new chief accountants. The new chief
accountants shall be responsible for their work as from the date of accepting
the work handover. The former chief accountants are still responsible for the
accuracy, completeness and objectiveness of information, accounting documents
during their tenure.
Article
38.- Criteria and conditions of chief accountants
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1. Persons arranged to work as
chief accountants must meet the following criteria:
a) The chief accountants of the
accounting units defined at Points a, b, c and e, Clause 1, Article 2 of this
Decree must acquire accounting profession of university or higher degree and be
engaged in practical accounting work for at least two years. In cases where
they have the accounting profession of collegial degree, the practical duration
of their accounting work shall be at least three years;
b) The chief accountants of the
accounting units defined at Point d, e, g and i of Clause 1, Article 2 of this
Decree must acquire the professional accounting qualification of intermediate
or higher degree and be involved in practical accounting work for at least
three years;
c) The chief accountants of the
attached accounting units and the chief accountants of the State corporations
must possess the professional accounting qualifications of university or higher
degree and be engaged in practical accounting work for at least five years.
2. Persons arranged to work as
chief accountants must satisfy the following conditions:
a) Being other than the subjects
banned from performing accounting work as defined in Article 51 of the
Accounting Law;
b) Having gone through chief
accountant- fostering courses and being granted chief accountant-fostering
certificates according to the Finance Ministry’s regulations.
Article
39.- Hiring accountants, hiring chief accountants
Pursuant to Clause 1, Article 56
of the Accounting Law, the hiring of accountants, chief accountants is
stipulated as follows:
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2. Persons hired to work as
accountants or chief accountants must satisfy the professional criteria
prescribed in Articles 51, 55, 56 and 57 of the Accounting Law.
3. Persons hired to work as
chief accountants must meet the following conditions:
a) Having accounting practice
certificates as provided for in Article 57 of the Accounting Law;
b) Having chief
accounting-fostering certificates as provided for by the Finance Ministry;
c) Having registered accounting
service business or registered accounting practice in the accounting service
providing enterprises.
4. Persons hired to work as
accountants shall have the responsibilities and rights of the accountants
defined in Clauses 2 and 3, Article 50 of the Accounting Law. Persons hired to
work as chief accountants shall have the responsibility and rights of the chief
accountants defined in Article 54 of the Accounting Law.
5. The representatives at law of
accounting units must bear responsibility for the hiring of accountants and/or
chief accountants.
Article
40.- State bodies competent to grant accounting practice certificates
Pursuant to Article 57 of the
Accounting Law, the State bodies competent to grant accounting practice
certificates are stipulated as follows:
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2. The Finance Ministry provides
for the fostering programs, examination and recruitment councils, procedures
and competence to grant and withdraw accounting practice certificates according
to the provisions of the Accounting Law and other relevant law provisions.
Article 41.-
Accounting service enterprises
Pursuant to Article 55 of the
Accounting Law, the accounting service enterprises are prescribed as follows:
1. The accounting service
enterprises shall be set up and operate under law provisions in one of the
three following forms: limited liability companies, partnerships and private enterprises.
To set up an accounting service enterprise there must be at least two persons
possessing accounting practice certificates, one of whom is among the
managerial officials of the accounting service enterprise as provided for in
Article 57 of the Accounting Law and Article 40 of this Decree.
2. The establishment, management
and operation of accounting service enterprises must comply with law provisions
on enterprises and the provisions of this Decree.
3. The accounting service
enterprises are entitled to register accounting service business according to
the provisions of Article 43 of this Decree.
4. In the course of operation,
the accounting service enterprises must ensure that at least one of their
managers has the accounting practice certificate as provided for in Article 57
of the Accounting Law and Article 40 of this Decree.
Article
42.- Individuals registering accounting service business
Pursuant to Article 55 of the
Accounting Law, the accounting service business registration by individuals is
stipulated as follows:
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2. Individuals registering
accounting service business must have their transaction offices and addresses.
Article
43.- Contents of accounting services
Pursuant to Article 55 of the
Accounting Law, organizations and individuals that register accounting service
business are entitled to perform the following accounting services:
1. Working as accountants;
2. Working as chief accountants;
3. Establishing specific
accounting systems for the accounting units;
4. Providing and advising on the
application of information technology on accounting;
5. Fostering accounting
operations, updating accounting knowledge;
6. Providing financial
consultancy;
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8. Other accounting services
prescribed by law.
Article 44.-
Responsibilities of accounting practicing organizations, individuals
Pursuant to Clause 5, Article 56
of the Accounting Law, the accounting practicing organizations and individuals
have the following responsibilities:
1. To perform the accounting
work related to accounting service contents agreed upon in contracts.
2. To comply with legislation on
accounting and legislation on accounting professional activities.
3. To be answerable to customers
and law for the contents of accounting services already provided and must pay
compensations for damage they have caused.
4. To regularly foster
professional knowledge and experiences, implement the annual programs on
knowledge updating according to the regulations of the Finance Ministry or the
professional organizations authorized by the Finance Ministry.
5. To submit to the professional
management and accounting service quality control by the Finance Ministry or
the accounting professional organizations authorized by the Finance Ministry.
Article 45.-
Cases where accounting services must not be provided
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1. Being fathers, mothers,
spouses, children or siblings of the persons having the managerial and
executive responsibilities, including chief accountants of the accounting units
defined at Points a, b, c, f, g and i, Clause 2 of this Decree.
2. Having economic and/or
financial ties with customers.
3. Having not enough capability,
professional qualifications nor conditions for providing the accounting
services.
4. Currently working as hired
chief accountants for the accounting units that have economic and/or financial
ties with customers.
5. The accounting units make
requests against the professional ethics or against the professional
requirements of accounting, financial operations.
6. Other cases prescribed by
law.
Article 46.-
Right to join accounting professional organizations
Pursuant to Article 58 of the
Accounting Law, the right to join accounting professional organizations and
Accounting Association is prescribed as follows:
1. The accounting units,
accountants, persons performing accounting in accounting service enterprises or
accounting individual practitioners may join Vietnam Accounting Association.
The accounting service enterprises and accounting practitioners must register
their accountants with Vietnam Accounting Association and submit to the
management by the Accounting Association in term of professional ethics and professional
operations under the authorization of the Finance Ministry.
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Article
47.- Implementation effect
1. This Decree takes
implementation effect 15 days after its publication in the Official Gazette.
2. The previous regulations on
business accounting contrary to this Decree shall all cease to be effective
after this Decree comes into force.
Article 48.-
Organization of implementation
1. The Finance Minister shall be
responsible for guiding and organizing the implementation of this Decree.
2. The ministers, the heads of
the ministerial-level agencies, the heads of the Government-attached agencies,
the presidents of the provincial/municipal People’s Committees shall have to
organize the implementation of this Decree.
ON
BEHALF OF THE GOVERNMENT
PRIME MINISTER
Phan Van Khai
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