VI What are the details of the latest Accounting Law 2026 and its guiding documents? Let’s explore this further with Pham Consult!
What are the details of the latest Accounting Law 2026 and its guiding documents?
The 2015 Accounting Law was passed by the 13th National Assembly of the Socialist Republic of Vietnam at its 10th session on November 20, 2015, and came into effect on January 1, 2017.
As of now, there are no new documents regarding the promulgation of the new Accounting Law.
Thus, the latest Accounting Law 2026 currently in effect is still the Accounting Law 2015 and its amendments.
During implementation, the Accounting Law 2015 has been amended and supplemented by several documents as follows:
(1) Tax Administration Law 2025 (effective from July 1, 2026)
(2) Law amending and supplementing several articles of the Securities Law, Accounting Law, Independent Auditing Law, State Budget Law, Law on management and use of public assets, Tax Administration Law, Personal Income Tax Law, National Reserve Law, Law on handling administrative violations 2024;
(3) Tax Administration Law 2019.
The guiding documents for the latest Accounting Law 2025 include:
– Circular 108/2025/TT-BTC guiding the preparation of consolidated financial statements of administrative and non-business accounting units; – Circular 101/2025/TT-BTC guiding accounting principles applicable to insurance brokerage enterprises;
– Circular 99/2025/TT-BTC guiding the Enterprise Accounting System;
– Circular 46/2025/TT-BTC amending and repealing circulars in the field of accounting and auditing to promote decentralization, delegation of authority and reorganization of local government at two levels;
– Circular 71/2024/TT-BTC guiding the Accounting System for Cooperatives and Cooperative Unions;
– Circular 24/2024/TT-BTC guiding the Accounting System for administrative and non-business entities;
– Circular 23/2024/TT-BTC amending the Circular guiding the management and inspection of accounting service activities;
– Circular 43/2023/TT-BTC amending the Circulars with regulations related to submitting, presenting, and declaring information on household registration books, temporary residence books, or documents requiring confirmation from the local authorities where residence is required when implementing policies or administrative procedures under the State management of the Ministry of Finance;
– Circular 09/2021/TT-BTC on guiding the inspection of accounting service activities;
– Circular 39/2020/TT-BTC amending the reporting regime in the Circulars in the field of accounting and independent auditing;
– Circular 05/2019/TT-BTC guiding accounting applicable to microfinance institutions;
– Circular 91/2017/TT-BTC regulating the examination, issuance, and management of auditor certificates and accountant certificates;
– Circular 292/2016/TT-BTC guiding the annual updating of knowledge for practicing accountants and those registered to practice accounting services;
– Circular 296/2016/TT-BTC guiding the issuance, revocation, and management of Certificates of Registration for practicing accounting services;
– Circular 297/2016/TT-BTC on the issuance, management, and use of Certificates of Eligibility for conducting accounting services;
– Decree 70/2025/ND-CP amending Decree 123/2020/ND-CP regulating invoices and documents;
– Decree 102/2021/ND-CP amending the Decrees on administrative sanctions in the fields of tax, invoices; customs; insurance business, lottery business; management and use of public assets; practicing thrift and combating waste; national reserves; state treasury; Accounting, independent auditing;
– Decree 123/2020/ND-CP regulating invoices and documents;
– Decree 05/2019/ND-CP on internal auditing;
– Decree 151/2018/ND-CP amending and supplementing the Decree regulating investment and business conditions under the state management scope of the Ministry of Finance;
– Decree 41/2018/ND-CP on regulations on administrative penalties in the field of accounting and independent auditing;
– Decree 41/2018/ND-CP on regulations on administrative penalties in the field of accounting and independent auditing;
– Decree 25/2017/ND-CP on state financial reporting;
– Decree 174/2016/ND-CP guiding the Accounting Law.
What does accounting documentation include?
Based on the provisions of Article 3 of the 2015 Accounting Law, some terms are explained as follows:
Explanation of Terms
In this Law, the following terms are understood as follows:
- Accounting method is the specific way and procedure to perform each accounting task.
- Electronic means is a means of operation based on electrical, electronic, digital, magnetic, wireless transmission, optical, electromagnetic or similar technologies.
- Accounting documents are accounting vouchers, accounting books, financial statements, management accounting reports, audit reports, accounting inspection reports and other documents related to accounting.
Thus, according to the above regulations, accounting documents include:
– Accounting vouchers;
– Accounting books;
– Financial statements;
– Management accounting reports;
– Audit reports;
– Accounting inspection reports;
– Other documents related to accounting.
How are accounting tasks defined?
Accounting tasks are defined in Article 4 of the 2015 Accounting Law as follows:
– Collecting and processing accounting information and data according to the subject and content of accounting work, according to accounting standards and accounting regulations.
– Checking and monitoring financial revenues and expenditures, collection, payment, and debt settlement obligations; checking the management and use of assets and sources of asset formation; detecting and preventing violations of financial and accounting laws.
– Analyzing accounting information and data; advising and proposing solutions to serve the management requirements and economic and financial decisions of the accounting unit.
– Providing accounting information and data as prescribed by law.
