Major Amendments To Accounting Law 2015

Having applied in Vietnam for nearly 10 years, Accounting Law 2005 has revealed a number of limitations when it comes to comparison with the development of the economy. According to many experts, it is essential to make amendments to the law in order to make it appropriate to the far-reaching global economic integration of Vietnam.

A bill of amendments to the accounting law was submitted by ministry of finance to the government, in which there are breakthrough changes aiming at approaching transparency – one of international accounting standards (IAS), accepting and acknowledging IAS as well as the practice of accounting and auditing in regional and international countries. After collecting 75 comments from 15 ministries, 36 provincial committees, entities, corporations and organisations, several articles of accounting law have been amended and added.