Who are not allowed to act as a Chief Accountant lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam?

Who are not allowed to act as a Chief Accountant lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam?

Pursuant to Clause 2 Article 42 lịch trực tiếp bóng đá hôm nay the Law on Credit Institutions in 2024 stipulating entities not allowed to act as a Chief Accountant lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam:

- Minor or a person who is legally incapacitated, a person with limited cognition and behavior control, and a person with limited legal capacity;

- Person who is facing criminal prosecution or serving imprisonment sentence; serving an administrative penalty in a correctional institution or rehabilitation center;

- Person who is prohibited by the court from holding certain positions or doing certain works;

- Person who has been sentenced for any serious crime or worse;

- Person who has been sentenced for possession charge without having their criminal record expunged;

- Official, public employee or manager lịch trực tiếp bóng đá hôm nay division or higher level lịch trực tiếp bóng đá hôm nay an enterprise in which the State holds 50% or more lịch trực tiếp bóng đá hôm nay the charter capital, except for any person appointed to act as the representative lịch trực tiếp bóng đá hôm nay the State's stakes or stakes lịch trực tiếp bóng đá hôm nay the enterprise in which the State holds 50% or more lịch trực tiếp bóng đá hôm nay the charter capital in the credit institution or appointed or assigned to participate in management, administration or control lịch trực tiếp bóng đá hôm nay the credit institution according to task requirements;

- Officer, non-commissioned officer, professional army man or defense worker/public employee lịch trực tiếp bóng đá hôm nay an agency or unit under the Vietnam People's Army; officer, professional non-commissioned officer, worker/police officer lịch trực tiếp bóng đá hôm nay an agency and unit under the Vietnam People's Police, except for any person appointed to act as the representative lịch trực tiếp bóng đá hôm nay the State's stakes or stakes lịch trực tiếp bóng đá hôm nay the enterprise in which the State holds 50% or more lịch trực tiếp bóng đá hôm nay the charter capital in the credit institution;

- Father/mother, spouse, child or sibling lịch trực tiếp bóng đá hôm nay each member lịch trực tiếp bóng đá hôm nay the Board lịch trực tiếp bóng đá hôm nay Directors and the Board lịch trực tiếp bóng đá hôm nay Members, General Director (Director) lịch trực tiếp bóng đá hôm nay the credit institution and his/her spouse;

- Another person defined in the Charter lịch trực tiếp bóng đá hôm nay the credit institution.

Compared to the Law on Credit Institutions in 2010, the Law on Credit Institutions in 2024 has added entities not allowed to act as a Chief Accountant lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam:

- A person with limited cognition and behavior control;

- A person serving an administrative penalty in a correctional institution or rehabilitation center;

- Person who is prohibited by the court from holding certain positions or doing certain works;

In addition, the Law on Credit Institutions in 2024 also allows official, public employee or manager lịch trực tiếp bóng đá hôm nay division or higher level lịch trực tiếp bóng đá hôm nay an enterprise in which the State holds 50% or more lịch trực tiếp bóng đá hôm nay the charter capital to act as a Chief Accountant if they are appointed or assigned to participate in management, administration or control lịch trực tiếp bóng đá hôm nay the credit institution according to task requirements.

Who are not allowed to act as a Chief Accountant lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam? - image from internet

What are requirements applicable to Chief Accountants lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam?

Pursuant to Clause 5 Article 41 lịch trực tiếp bóng đá hôm nay the Law on Credit Institutions in 2024 stipulating Chief Accountants lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam:

Criteria and requirements applicable to mangers, executives and holders lịch trực tiếp bóng đá hôm nay some other positions lịch trực tiếp bóng đá hôm nay a credit institution

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5. A Deputy Director General (Deputy Director), Chief Account, Director lịch trực tiếp bóng đá hôm nay a branch or Director General (Director) lịch trực tiếp bóng đá hôm nay a subsidiary or any holder lịch trực tiếp bóng đá hôm nay an equivalent position under regulations lịch trực tiếp bóng đá hôm nay the Charter lịch trực tiếp bóng đá hôm nay the credit institution shall fully meet the following criteria and requirements:

a) Not falling within the case where he/she is prohibited from holding a certain position specified in Clause 2 Article 42 lịch trực tiếp bóng đá hôm nay this Law; in case lịch trực tiếp bóng đá hôm nay the Deputy Director General (Deputy Director), not falling within the case where he/she is prohibited from holding a certain position specified in Clause 1 Article 42 lịch trực tiếp bóng đá hôm nay this Law;

b) Having at least a bachelor’s degree in finance, banking, economics, business administration, law, accounting or audit field or another discipline under the field which he/she will undertake; or having a bachelor’s degree in a discipline other than one lịch trực tiếp bóng đá hôm nay the above-mentioned fields and having at least 3 years’ experience lịch trực tiếp bóng đá hôm nay working directly in banking or finance field or the field which he/she will undertake;

c) Residing in Vietnam during his/her term lịch trực tiếp bóng đá hôm nay office;

d) The Chief Account shall also meet criteria and requirements according to regulations lịch trực tiếp bóng đá hôm nay the law on accounting.

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Pursuant to Clause 1 Article 51 lịch trực tiếp bóng đá hôm nay the Law on Accounting in 2015 stipulating standards lịch trực tiếp bóng đá hôm nay accountants:

Standards, rights and obligations lịch trực tiếp bóng đá hôm nay accountants

1. Every accountant must meet the standards below:

a) Comply with professional ethics, be truthful, integrated, and abide by law.

b) Have professional accounting knowledge and skills.

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Pursuant to Article 54 lịch trực tiếp bóng đá hôm nay the Law on Accounting in 2015 stipulating standards and conditions for chief accountants:

Standards and conditions for chief accountants

1. A chief accountant must meet the standards below:

a) Meet the standards specified in Clause 1 Article 51 lịch trực tiếp bóng đá hôm nay this Law;

b) Have at least an associate degree in accounting;

c) Have a certificate lịch trực tiếp bóng đá hôm nay training in chief accountant’s techniques;

d) The holder lịch trực tiếp bóng đá hôm nay a bachelor’s degree in accounting must have at least 02 years’ experience lịch trực tiếp bóng đá hôm nay accounting works; the holder lịch trực tiếp bóng đá hôm nay an associate degree in accounting must have at least 03 years’ experience lịch trực tiếp bóng đá hôm nay accounting works.

2. The Government shall specify standards and conditions for chief accountants that suit each type lịch trực tiếp bóng đá hôm nay accounting units.

As regulated above, Chief Accountants lịch trực tiếp bóng đá hôm nay the credit institutions in Vietnam must meet the following requirements:

- Must not be banned from holding the position lịch trực tiếp bóng đá hôm nay Chief Accountant;

- Have at least a bachelor’s degree in accounting or relevant fields; or have a bachelor’s degree in other fields and have at least 3 years’ experience lịch trực tiếp bóng đá hôm nay working directly in accounting fields;

- Have at least 02 years’ experience lịch trực tiếp bóng đá hôm nay accounting works;

- Reside in Vietnam during his/her term lịch trực tiếp bóng đá hôm nay office;

- Comply with professional ethics, be truthful, integrated, and abide by law;

- Have a certificate lịch trực tiếp bóng đá hôm nay training in chief accountant’s techniques.

What are obligations lịch trực tiếp bóng đá hôm nay chief accountants in Vietnam?

Pursuant to Clause 1 Article 55 lịch trực tiếp bóng đá hôm nay the Law on Accounting in 2015 stipulating obligations lịch trực tiếp bóng đá hôm nay chief accountants in Vietnam:

Rights and obligations lịch trực tiếp bóng đá hôm nay chief accountants

1. A chief accountant has the responsibility to:

a) Comply with regulations lịch trực tiếp bóng đá hôm nay law on accounting and finance lịch trực tiếp bóng đá hôm nay accounting units;

b) Organize the operation lịch trực tiếp bóng đá hôm nay the accounting apparatus in accordance with this Law;

c) Make financial statements in accordance with accounting regimes and accounting standards.

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As regulated above, a chief accountant has the responsibility to comply with regulations lịch trực tiếp bóng đá hôm nay law on accounting and finance lịch trực tiếp bóng đá hôm nay accounting units, organize the operation lịch trực tiếp bóng đá hôm nay the accounting apparatus in accordance with this Law. In addition, the chief accountant must also make financial statements in accordance with accounting regimes and accounting standards.

Note: The Law on Credit Institutions in 2024 will be effective from July 1, 2024, except for Clause 3 lịch trực tiếp bóng đá hôm nay Article 200 and Clause 15 lịch trực tiếp bóng đá hôm nay Article 210, which will be effective from January 1, 2025.

Best regards!