Allow persons to provide accounting services only? How does the law rule on personal provisions of accounting services

With the continuous development of the economy, many large and small businesses were born. The demand for accounting services is also increasing. So, is it allowed for an individual to provide accounting services? How does Vietnamese law regulate individuals providing accounting services? Through this article, let’s clarify this issue with Pham Consult!

 1. What is the business of accounting services?

According to the provisions of the Law on Accounting 2015 in Clause 13, Article 3, the accounting service business is defined as “Accounting service business is the provision of accounting services, chief accountant, preparation of financial statements, etc. accounting, accounting consultancy and other jobs within the contents of accounting work according to the provisions of this Law for organizations and individuals that have demand.”

2. Is an individual accounting service provider allowed?

According to the provisions of Article 58 of the 2015 Law on Accounting, specific provisions on accounting service practice:

1. A person who holds an accountant or an auditor certificate under the Law on Independent Auditing provisions may register to practice accounting services through an accounting service business or an accounting service business household. When the following conditions are met:

• Having civil act capacity
• Having actually worked in finance, accounting, or auditing for 36 months or more from the time of university graduation;
• Fully participate in the knowledge update program as prescribed.

2. A person who fully meets the conditions specified in Clause 1 of this Article shall register to practice accounting and be granted an accounting service practice registration certificate. The Ministry of Finance shall stipulate the procedures for granting and revoking the Certificate of Registration of accounting service practice.
3. An accounting service practice registration certificate is only valid when the grantee has a full-time labor contract for an accounting service business or works at a service business household. Accountant.
4. Persons who are not registered to practice accounting services include:

• Officials and civil servants; officers, professional soldiers, workers, defense officers, and People’s Public Security.
• Persons who are banned from practicing accounting under a legally effective court judgment or decision; the person is being examined for penal liability; who has been convicted of one of the crimes of infringing upon the economic management order related to finance and accounting but has not yet been cleared of criminal records; people who are being applied administrative handling measures, education in communes, wards or townships, sent to compulsory education institutions, compulsory detoxification establishments;
• Persons who have been convicted of serious crimes of infringing upon economic management order but have not yet been expunged;
• Persons who have been administratively sanctioned for violations of the law on finance, accounting, and auditing have not yet expired 06 months from the date of completing the execution of the sanctioning decision in case of being subject to a warning. Or within 01 years from the date of completion of other administrative sanctioning decisions;
• Persons suspended from practicing accounting services.

Thus, according to the provisions of the Accounting Law 2015, to practice personal accounting services, it is necessary to have an accountant certificate or an auditor certificate. In addition, you must work for a business or business household providing accounting services, then individuals can practice accounting services. Therefore, signing a contract to provide services without working for the enterprise or without the necessary certificates and meeting the statutory conditions is impossible.