The 2015 Accounting Law (Law No. 105/2015/QH13), passed by the National Assembly on November 20, 2015 and effective from January 1, 2017, is a key legal document that governs the principles, contents, and organization of accounting work applied in agencies, organizations, units, and enterprises in Vietnam.
According to this Law, accounting is defined as the process of collecting, processing, inspecting, analyzing, and providing economic and financial information through accounting documents, books, and financial statements. The Law sets out key accounting principles, such as truthfulness, objectivity, completeness, timeliness, and verifiability. It covers core aspects including accounting documents, accounts, books, financial statements, the accounting currency, accounting period, and the language used in accounting.
The Law also provides regulations on the accounting apparatus, qualifications and conditions for accountants, the responsibilities of the chief accountant, as well as the requirement for internal audits in certain types of enterprises. In addition, it emphasizes the obligations to store and secure accounting information, and stipulates penalties for violations such as falsifying or destroying accounting data contrary to regulations.
| Issuing bodies: | National Assembly of the Socialist Republic of Vietnam | Gazette number: | 1241&1242-12/2015 |
| Official number: | 88/2015/QH13 | Gazette dated: | 28/12/2015 |
| Types of documents: | Law | Signer: | Nguyen Sinh Hung |
| Issuing date: | 20/11/2015 | Expiry date: | |
| Effective date: | 01/01/2017 | Effect status: | Partly expired |
| Fields: | Accounting - Audit | Updated date: | 20/11/2015 |
