Thông tư 297/2016/TT-BTC

CIRCULAR

ISSUANCE, MANAGEMENT AND USAGE OF CERTIFICATES OF ELIGIBILITY FOR PROVIDING ACCOUNTING SERVICES

Pursuant to the Law on Accounting no.88/2015/QH13 dated November 20, 2015;

Pursuant to the Government's Decree No. 215/2013/NĐ-CP dated December 23, 2013 defining the functions, tasks, entitlements and organizational structure of the Ministry of Finance;

At the request of the Director of the Department of Audit and Accounting Regulation,

The Minister of Finance issues a Circular on the issuance, management, and use of Certificates of eligibility for providing accounting services

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Circular specifies the issuance, management and usage of Certificates of eligibility for providing accounting services applicable to accounting firms and branches of foreign accounting firms in Vietnam.

Article 2. Regulated entities

1. Accounting firms and branches of foreign accounting firms in Vietnam (hereinafter referred to as “accounting firms”)

2. Organization and individuals involved in the issuance, management and usage of certificates of eligibility for providing accounting services.

Article 3. Holders of certificates of eligibility for providing accounting services

Certificates of eligibility for providing accounting services are issued to multiple-member limited liability companies, partnerships, sole proprietorship and branches of foreign accounting firms in Vietnam that satisfy the conditions specified in Article 60 of Law on accounting.

Article 4. The dossier

1. The copies of papers and qualifications must be authenticated by competent agency as prescribed by law.

2. The application for the Certificate of eligibility for providing accounting services must be prepared in Vietnamese. The paper enclosed with the application in foreign languages must be translated into Vietnamese and authenticated in accordance with the law of Vietnam.

3. The papers issued by foreign organizations or notarized/authenticated overseas must be consularly legalized as prescribed by the law of Vietnam, unless the consular legalization is exempted by an International Agreement to which Vietnam is a signatory.

4. The applicant for the Certificate of eligibility for providing accounting services is responsible for the accuracy of the application being sent to the Ministry of Finance.

Chapter II

SPECIFIC PROVISIONS

Article 5. Issuance of certificates of eligibility for providing accounting services

1. The application for the Certificate of eligibility for providing accounting services shall be implemented in accordance with regulations specified in Article 61 of Law on accounting.

Multiple-member limited liability companies, partnerships and sole proprietorship shall use the form in Annex 1 issued together with this Circular.

Branches of foreign accounting firms in Vietnam shall use the form in Annex 2 issued together with this Circular.

2. The applicant for the issuance of the Certificate of eligibility for providing accounting services shall send one set of application as prescribed in this Clause 1 of this Circular to the Ministry of Finance and pay the fee.

3. Specimen of the Certificates of eligibility for providing accounting services specified in Annex 3 issued together with this Circular contains the following information:

a) Name of the accounting firm in Vietnamese and foreign languages (if any); its abbreviated name (if any); address of the head office;

b) Full names of the legal representative and the Director of the accounting firm;

c) The number and date of issue of the Certificate of eligibility for providing accounting services;

d) The terms and conditions by which the accounting firm must abide when using the Certificate of eligibility for providing accounting services.

4. The time limit for issuing of the Certificate of eligibility for providing accounting services is specified in Clause 1 Article 62 of the Law on accounting.

Article 6. Reissuance the certificates of eligibility for providing accounting services

1. The accounting firm must apply for the reissuance of the Certificate of eligibility for providing accounting services in any of the cases specified in Clause 1 Article 63 of the Law on accounting .

2. The application for the reissuance of the Certificate of eligibility for providing accounting services in the cases specified in Clause 1 of this Article is specified in Clause 2 Article 63 of Law on accounting.

The application form provided in Annex 4 issued together with this Circular shall be used for applying for reissuance of the Certificates of eligibility for providing accounting services in the cases specified in Point a Clause 1 Article 63 of the Law on accounting.

The application form provided in Annex 5 issued together with this Circular shall be used for applying for reissuance of the Certificates of eligibility for providing accounting services in the cases specified in Point b Clause 1 Article 63 of the Law on accounting.

3. The accounting firm must apply to the Ministry of Finance for the reissuance of the Certificate of eligibility for providing accounting services within 10 days from the day on which the changes prescribed in Point a Clause 1 Article 63 of the Law on accounting occur or the day on which the Certificate of eligibility for providing accounting services is lost or damaged. The time limit for reissuing the Certificate of eligibility for providing accounting services is specified in Clause 3 Article 63 of the Law on accounting.

Article 7. Fee payment

 The applicant for the issuance or reissuance of the Certificate of eligibility for providing audit services must pay the fee imposed by the Ministry of Finance.

Article 8. Mandatory Suspension the provision of accounting services

1. An accounting firm shall be suspended from providing accounting services in any of the cases spimulated in Clause 1 Article 69 of the Law on Accounting.

2. An accounting firm suspended from providing accounting services must not provide accounting services over the suspension period specified in the decision issued by the Ministry of Finance. Upon the expiration of the suspension period, if the accounting firm satisfies the conditions for accounting service business as prescribed, the Ministry of Finance shall add its name to the public list of eligible accounting firms.

Article 9. Revoking the Certificate of eligibility for providing accounting services

1. An accounting firm shall have its Certificate of eligibility for providing accounting services revoked in one of the cases in Clause 2 Article 69 of the Law on Accounting.

2. An accounting firm shall stop providing accounting services from the effective date of the decision on revocation of the Certificate of eligibility for providing accounting service stimulated by the Ministry of Finance.

3. The accounting firm must return the Certificate of eligibility for providing accounting services to the Ministry of Finance within 10 days from the day on which the decision is issued.

Article 10. Voluntary suspension of accounting service provision

1. The accounting firm must send a notification of the suspension of accounting service to the Ministry of Finance using the template specified in Annex 8 enclosed with this Circular by the deadline prescribed in Clause 1 Article 66 of the Law on accounting.

2. Suspended accounting firms shall not provide any accounting services during the voluntary suspension period.

3. When resuming the operation, the accounting firm must ensure that all conditions according to the law are satisfied and send a written notification to the Ministry of Finance.

Article 11. Voluntary termination of accounting service provision

1. The accounting firm must send a notification of the termination of accounting service to the Ministry of Finance within the time limit prescribed in Clause 1 Article 66 of the Law on accounting.

2. The notification of the termination of accounting service provision includes:

a) The day on which the firm officially terminate the accounting service provision;

b) The reasons for the termination of accounting service provision;

c) The reports on the unfinished accounting service contracts

d) The measures and commitments to ensure the lawful rights and interests of clients and other involved parties;

dd) The solutions for settling unfinished accounting contracts and other service contracts (if there are any).

3. The accounting firm shall return the certificates of eligibility for providing accounting service to the Ministry of Finance within 10 days after the day of the termination of the provision of accounting services.

4. The accounting firm is responsible for notifying the clients (units who receive services) and other relevant parties, announcing the termination of provision of accounting services through mass media at least 30 days before the day of the official termination of the provision of accounting services

5. The accounting firm shall not provide any accounting services from the day of termination of accounting service provision.

Article 12. Responsibilities of accounting firms when being granted the certificates of eligibility for providing accounting services

1. Maintain the fulfillment of the conditions for being issued with the Certificate of eligibility for providing accounting services throughout the operation.

2. Do not falsify the contents of the Certificate of eligibility for providing accounting services.

3. Do not lend, lease out, plead, trade, or transfer the Certificate of eligibility for providing accounting services.

4. Send a report to the Ministry of Finance within 10 days from the day on which Certificate of eligibility for providing accounting services is lost or damaged.

5. Send a written notification (enclosed with documentary evidence) to the Ministry of Finance within 10 days from the day on which the changes prescribed in Clause 1 Article 66 of the Law on Accounting occur.

6. Return the Certificate of eligibility for providing accounting services to the Ministry of Finance upon termination of the accounting service provison revocation the Certificate of eligibility for providing accounting services in accordance with effective regulations.

7. Facilitate the inspection and measures taken by competent authorities to ensure the fulfillment of the conditions for providing accounting services and the proper usage of the Certificate of eligibility for providing accounting services.

8. Before October 31st every year or at the request of competent bodies, the accounting firms must send reports on the fulfillment of the conditions for providing accounting services according to the template in Annex 6 issued together with this Circular to the Ministry of Finance, enclosed with the documents prescribed in Article 61 of the latest Law on accounting if there are any changes.

9. Before April 10 every year, the accounting firms must send a physical and electronic report on their performance of the preceding year according to the template in Annex 7 issued together with this Circular to the Ministry of Finance.

Article 13. Disclosing information about accounting firms

1. The Ministry of Finance shall post on its website:

a) The list of accounting firms eligible for providing accounting services;

b) The list of accounting firms that are suspended from providing accounting services, have their Certificates of eligibility for providing accounting services revoked, or receive warnings against unfullfilled conditions for providing audit services;

c) The list of accounting firms that voluntarily suspend or terminate the provision of accounting services.

2. Within 30 days from the day on which the Certificate of eligibility for providing accounting services is issued, the accounting firm must make public the information of the certificate of eligibility for providing accounting services prescribed in Points a, b, and c Clause 3 Article 5 of this Circular on 3 consecutive issues of a paper or online newspaper.

Article 14. Violations against regulations on accounting service provision

1. Provision of incorrect information or forged documents to obtain the Certificate of eligibility for providing accounting services

2. Forging the Certificate of eligibility for providing accounting services or falsifying information on the Certificate of eligibility for providing accounting services.

3. Failure to apply for the reissuance of the Certificate of eligibility for providing accounting services in case of changes specified in Clause 1 Article 63 of the Law on Accounting.

4. Providing accounting services:

a) Before being granted the Certificate of eligibility for providing accounting services.

b) During the mandatory or voluntary suspension period, after the termination of accounting service provision or after the Certificates of eligibility for providing accounting services is revoked;

5. Lending or leasing out the Certificate of eligibility for providing accounting services

6. Failure to return the Certificate of eligibility for providing accounting services in accordance with regulations.

7. Failure to request the business registration authority to remove the “dịch vụ kế toán" (“accounting services”) from the firm’s name by the deadline specified in Clause 5 Article 60 of the Law on Accounting when it is not granted the Certificates of eligibility for providing accounting services.

Chapter III

IMPLEMENTATION CLAUSE

Article 15. Effect

1. This Decision takes effect from January 1, 2017.

2. This Circular shall replace the regulations of the Ministry of Finance’s Circular No.72/2007/TT-BTC of June 27, 2007 on registration of accounting services of accounting firms.

3. The Ministry of Finance shall be in charge of inspecting and supervising the compliance of accounting firms on regulations of accounting service business in accordance with effective regulations.

4. Difficulties arising during the course of implementation should be reported to the Ministry of Finance for consideration and amendment.