Hello Lawnet. I'm working at a finance company. According to latest regulations, what are regulations on accounting books of microfinance institutions in Vietnam? Thank you!
Pursuant to Article 81 of the Circular 05/2019/TT-BTC (takes effect from 01/04/2019) stipulating regulations on accounting books of microfinance institutions in Vietnam as follows:
1. Accounting books shall be intended for recording, systematizing and storing all of economic and financial transactions already arising according to economic contents and in chronological order in relation to microfinance institutions. Each microfinance institution shall use only one system of accounting books in an accounting period. Microfinance institutions must implement regulations on accounting books in the Law on Accounting, the Government’s Decree No. 174/2016/ND-CP dated December 30, 2016 elaborating on certain articles of the Law on Accounting, documents providing instructions on implementation of the Law on Accounting and other instruments providing instructions on amendments and supplements to the Law on Accounting.
2. Microfinance institutions may, of their own accord, create sample accounting books, but must ensure that information about economic transactions is transparent, sufficient, easy to be checked, controlled and collated.
3. Depending on business characteristics and managerial requirements, microfinance institutions may, on their own, choose the bookkeeping form provided that information about transactions is reflected in full, promptly, easily to be checked, controlled and collated.
Above are regulations on accounting books of microfinance institutions in Vietnam.
- Above is legal advice provided for customers of LawNet . If you require any further information, please send an email to email@example.com
- The content of the article is for reference only;
- The applicable terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via Email: firstname.lastname@example.org;