Consolidated Document No. 41/VBHN-VPQH: Accounting Law (Consolidated to 2026)
RegHub explainer by New MarketerLast updated:
Based on:Văn bản hợp nhất số 41/VBHN-VPQH; Luật Kế toán số 88/2015/QH13 - Government Official Gazette
This explanation was generated by AI and checked by an automated AI review, not by a human expert. It is not legal, tax or accounting advice and may contain errors. Check the official document before you rely on it.
The National Assembly Office issued Consolidated Document No. 41/VBHN-VPQH, which consolidates the Accounting Law No. 88/2015/QH13 (effective 1 January 2017) incorporating three rounds of amendments: Tax Administration Law 38/2019/QH14 (effective 1 July 2020), Law 56/2024/QH15 amending multiple financial laws (effective 1 January 2025), and Tax Administration Law 108/2025/QH15 (effective 1 July 2026). The consolidated document was published in Official Gazette No. 172 on 31 March 2026. The law governs accounting work, accounting apparatus, accountants, accounting service businesses, and state management of accounting (Article 1). Its scope of application is broad, covering state agencies, public service units, enterprises, cooperatives, household businesses, and individual accountants (Article 2). Core provisions include initial recognition at historical cost or fair value, consistency of accounting methods, and obligations to prepare and disclose financial statements. Note: the extracted PDF text is truncated at Article 10 - the remaining chapters covering accounting documents, ledgers, financial statements, accounting inspections, accounting organisation, and accounting service businesses are not available in the extracted text.
Scope
Consolidated Document No. 41/VBHN-VPQH was issued by the National Assembly Office and published in Official Gazette No. 172 on 31 March 2026. It consolidates the Accounting Law No. 88/2015/QH13 together with three amending laws:
- Tax Administration Law No. 38/2019/QH14 dated 13 June 2019 (effective 1 July 2020)
- Law No. 56/2024/QH15 dated 29 November 2024 amending the Securities Law, Accounting Law, Independent Audit Law, State Budget Law, and several other financial laws (effective 1 January 2025)
- Tax Administration Law No. 108/2025/QH15 dated 10 December 2025 (effective 1 July 2026)
Subjects of application (Article 2) include: state budget collection/expenditure agencies; state agencies and public service units (both state-funded and non-state-funded); enterprises established under Vietnamese law and branches/representative offices of foreign enterprises; cooperatives and cooperative unions; household businesses and business groups; accountants; licensed practicing accountants; and accounting service enterprises/households.
Key provisions
Accounting tasks (Article 4): collect and process accounting information; monitor and supervise financial receipts, expenditures, and asset management; analyse accounting data; provide information in accordance with regulations.
Accounting requirements (Article 5): fully, timely, clearly, and truthfully reflect economic and financial transactions on a continuous basis.
Accounting principles (Article 6):
- Initial recognition at historical cost; certain assets/liabilities may be remeasured at fair value at period end
- Consistency of accounting methods within the accounting period; changes must be disclosed in financial statements
- Financial statements must be prepared and submitted completely, accurately, and on time; disclosed per Articles 31 and 32
- Prudence in asset valuation and allocation of receipts and expenditures
- Reflect the substance of transactions over their legal form
Accounting standards (Article 7): the Ministry of Finance prescribes Vietnamese accounting standards based on international accounting standards adapted to Vietnamese conditions (paragraph 3 amended by Law 56/2024/QH15).
Currency unit (Article 10): Vietnamese Dong (VND); foreign currency transactions must be recorded in the original currency and converted to VND at the actual exchange rate.
Note: the extracted PDF text is truncated at Article 10. Subsequent chapters covering accounting documents, ledgers, financial statements, accounting inspections, accounting organisation, accounting service businesses, and state management of accounting are not available in the extracted text.
Effective date
The consolidated document was published in Official Gazette No. 172 on 31 March 2026. The base Accounting Law has been effective since 1 January 2017. The most recent amendments under Tax Administration Law No. 108/2025/QH15 take effect 1 July 2026.