Decision No. 1511/2001/QD-NHNN On Issuing the Financial Reporting System of the State Bank of Vietnam

Pursuant to …;

Regarding the Issuance of the Financial Reporting System of the State Bank

_______________

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997;

Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government stipulating the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;

At the proposal of the Director of the Accounting and Finance Department,

Pursuant to …;

Article 1. The Financial Reporting System of the State Bank is hereby issued together with this Decision.

Article 2. This Decision shall take effect fifteen days from the date of signature.

Article 3. The Heads of the Office, the Directors of the Accounting and Finance Department, the Director of the Banking Information Technology Department, the Heads of units under the State Bank, and the Governors of the State Bank Branches in provinces and centrally-administered cities shall be responsible for implementing this Decision.

REGULATIONS

FINANCIAL REPORTING OF THE STATE BANK
(Issued together with Decision No. 1511/2001/QĐ-NHNN dated November 30, 2001 of the Governor of the State Bank)

Chapter 1

GENERAL PROVISIONS

Article 1. Scope of Application

This system stipulates the financial reporting of the State Bank, including: the financial reporting system, contents, responsibilities, deadlines for preparing and submitting financial reports applicable to accounting units under the State Bank.

Article 2. Explanation of terms

In this system, the following terms are understood as follows:

1. Financial report of the State Bank (Financial Report): Is an accounting report that summarizes and explains the main financial and monetary indicators of the State Bank, prepared according to current accounting standards and regulations applicable to the State Bank.

2. Accounting unit under the State Bank: Includes the State Bank branches in provinces and centrally-administered cities; the State Bank Trading Department; the State Bank Administrative Management Bureau; the State Bank Information Technology Bureau; the State Bank Information Technology Sub-bureau; the State Bank Representative Office in Ho Chi Minh City; the International Credit Project Management Board; the Banking Times; the Banking Magazine (hereinafter referred to collectively as Reporting Units) and the State Bank Accounting and Finance Department (referred to as Receiving Units).

Article 3. Basis and principles for preparing financial reports

1. Financial reports are prepared based on data from accounts inside and outside the Balance Sheet according to the nature and content of the accounts specified in the current accounting account system of the State Bank.

2. Financial reports must reflect promptly, fully, accurately, truthfully, and objectively the data on the activities of the Reporting Units. For certain financial report forms accompanied by explanations, they must clearly and fully explain the issues that need to be explained.

3. The heads of the Reporting Units must be responsible for the accuracy, completeness, and truthfulness of the content of their unit's financial reports.

Article 4. Form of financial reports

Financial reports are presented in the form of written documents and data files on information carriers (tapes, magnetic disks...) or transmitted through computer networks. Written reports and data files on information carriers or transmitted through computer networks must match each other.

Article 5.

1. The publication of financial reports or the provision of data from financial reports is carried out in accordance with current regulations. For data within the scope of state secrets in the banking sector, it must be implemented in accordance with the current laws on state secrets.

2. Accounting units under the State Bank must store and preserve financial reports in writing in accordance with the current regulations on the retention period for archival documents in the banking sector.

Chapter 2

SPECIFIC PROVISIONS

Article 6. Content of financial reports

1. The financial reporting system includes the following four forms:

2. The content, calculation methods, and presentation formats of the indicators in each financial report form are implemented according to the provisions in the appendices issued together with this system and are uniformly applied to relevant accounting units of the State Bank.

Article 7. Deadline for preparing and submitting financial reports

Accounting units under the State Bank must comply with the regulations on the deadline for preparing and submitting financial reports (specifically provided in the accompanying appendices); If the last day of the submission deadline falls on a public holiday, Tet holiday, or weekend, then the submission date will be the next working day immediately following the holiday or weekend.

Article 8. Responsibilities of Reporting Units

1. According to the prescribed schedule, the Reporting Units (Accounting and Settlement Departments) must prepare and submit related financial report forms in accordance with this system.

2. For financial reports in written form, two copies must be prepared (one to send to the Accounting and Finance Department and one to keep at the Reporting Unit) and must have complete signatures and stamps of the unit in accordance with the regulations.

3. For financial reports in the form of data files on information carriers or transmitted through computer networks, they must be encrypted, secured, and processed for transmission (sent) in accordance with the current regulations of the State Bank on transmitting and receiving information and reports over the network or via tapes and magnetic disks.

4. When receiving inquiries about errors in financial reports from Receiving Units, they must review and check again, and if there are errors, they must correct them immediately by canceling the erroneous version and preparing a correct version to resubmit to the Receiving Unit, along with a reply to the inquiry noting "errors have been corrected"; In cases where the Reporting Unit discovers errors in its own financial reports, it must proactively correct them as instructed above.

Article 9. Responsibilities of the Accounting and Finance Department.

1. Guide the implementation of the financial reporting system for accounting units of the State Bank; Manage and archive the written financial reports of the State Bank system according to assigned functions and tasks.

2. Receive and strictly control all financial reports sent by Reporting Units. Upon discovering errors in financial reports, immediately inquire the Reporting Units (prepare inquiry letters for written financial reports or electronically inquire for financial reports transmitted through computer networks), the inquiry letter or electronic inquiry must clearly state the errors and correction methods; Inquiry letters must have full signatures of the person conducting the inquiry and the person controlling.

3. Fully perform all related tasks according to the responsibilities defined for Reporting Units.

4. Consolidate the financial reports of the entire State Bank system.

5. Send the written financial reports of the entire State Bank system to the following agencies and units both within and outside the sector:

a. State Bank of Vietnam:

- Department of Monetary Policy; Balance Sheet of the previous month; and Balance Sheet and settlement turnover of the previous year.

- Department of General Supervision: Balance Sheet of the previous month; and Quarterly and Annual Financial Reports.

b. Ministry of Finance: Quarterly and Annual Financial Reports.

c. National Audit Office: Annual Financial Report.

d. In addition to the specific provisions set out in points (a), (b) and (c) above, the submission of financial reports or the provision of data from financial reports to other organizations and individuals within and outside the industry shall be carried out in accordance with current regulations or approval by the Governor of the State Bank of Vietnam.

Article 10. Responsibilities of the Banking Information Technology Department

1. As the intermediary link, organize the receipt of financial reports transmitted through the computer network by reporting units, aggregate, process, and transmit them to the Department of Accounting and Finance of the State Bank of Vietnam according to the following specific regulations:

a. When receiving financial reports transmitted through the computer network by reporting units, must check the arithmetic accuracy of the financial report, for the Balance Sheet, additionally compare the beginning period balance of the report with the end-of-period balance of the previous period to ensure consistency;

b. After receiving, checking, and comparing the financial report according to the regulations; if there are no errors, immediately process and transmit it to the receiving unit; if errors are found, require the reporting unit to recheck, adjust, and resubmit for further processing according to the regulations.

c. Organize the secure and confidential storage of financial report data.

2. Guide accounting units under the State Bank of Vietnam, including functional departments of the State Bank of Vietnam permitted to access financial reports, to use equipment, technology applications to directly establish, send, receive, control, aggregate, and exploit information from financial reports on computers in accordance with regulations.

3. Ensure smooth, timely, accurate, secure, and confidential transmission of information.

Chapter 3

IMPLEMENTING PROVISIONS

Article 11.

The amendment and supplementation of this Regime shall be decided by the Governor of the State Bank.