I. Lodging services (CPC 64110), catering food services (CPC 642) and drink services (CPC 643). Legal basis: WTO, FTAs, AFAS. Investment…
Accounting and auditing and bookkeeping services (CPC 862)
- WTO, FTAs, AFAS.
- The Law on Independent audit of the National Assembly dated 29 March 2011
- The Law on Accounting of the National Assembly dated 17 June 2003
- Decree 17/2012 of the Government dated 13 March 2012 detailing and guiding the implementation of the law on independent audit
- Decree 129/2004 of the Government dated 31 May 2004 guiding the implementation of the accounting law, applicable to business activities
- Circular 72/2007 of the Ministry of Finance dated 27 June 2007 guiding the registration and management of accounting practice
1. WTO, FTAs, AFAS: No limitation.
2. The law of Vietnam
2.1. Accounting services
Forms of enterprise: Accounting service enterprises are established and operated under Vietnamese laws in one or three following forms: limited liability company, partnership and private enterprise.
Scope of practice:
- Acting as accountant;
- Acting as chief accountant;
- Establishing specific accounting systems for the accounting units;
- Proving and consulting on the application of information technology on accounting;
- Re-training accounting professional operations, updating accounting knowledge;
- Proving financial consultancy;
- Making tax declaration;
- Other accounting services prescribed by law.
2.2. Auditing services
Forms of investment: contributing capital to enterprises which has been established and operated in Vietnam.
Ratio of foreign investors’ ownership:
- A member being an organization is entitled to contribute at maximum 35% of the charter capital of the audit limit liability company with two or more members. In case there are many organizations contributing in capital, the total capital contributed by these organizations shall be at maximum 35% of the charter capital of the limited liability company with two or more members.
- Capital contributed by practicing auditors must account for over 50% of the company’s charter capital.
Scope of practice:
- Auditing services include: audit of financial statements, audit of activities, audit of compliance, audit of reports on the settlement of completed projects, audit of financial statements for tax purposes and other audits.
- Service of reviewing financial statements, financial information and other assurance services.
- Other services: Consultancy of economy, finance, taxes; Consultancy of management, conversion, and restructuring of enterprises; Consultancy of information technology application in the management of enterprises and organizations; Accounting services in accordance with provisions of accounting legislation; Valuation of assets and business risk assessment; Services of fostering knowledge of finance, accounting, and auditing; Other related services in finance, accounting, tax as prescribed by law.