Decision No. 49/2004/QĐ-BNV on approving the Charter of the Vietnam Association of Accountants and Auditors.

DECISION

Regarding the approval of the Statutes of the Vietnam Association of Accountants and Auditors. 

THE MINISTER OF THE MINISTRY OF HOME AFFAIRS

Pursuant to Decree No. 102/SL-L004 dated May 20, 1957 on the right to establish Associations;

Pursuant to Decree No. 88/2003/NĐ-CP dated July 30, 2003 of the Government on the organization, operation, and management of Associations;

Pursuant to Decree No. 45/2003/NĐ-CP dated May 9, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Home Affairs;

Considering at the proposal of the Director of the Ministry's Office; the proposal of the Chairman of the Vietnam Association of Accountants and Auditors and the Director of the Department for Non-Governmental Organizations,

DECISION:

Article 1. Approves the Statutes of the Vietnam Association of Accountants and Auditors which were adopted at the Third National Congress on March 26, 2004.

Article 2. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

Article 3. The Chairman of the Vietnam Association of Accountants and Auditors and the Director of the Department for Non-Governmental Organizations shall be responsible for implementing this Decision./.

CHARTER

VIETNAM ASSOCIATION OF ACCOUNTANTS AND AUDITORS

Chapter 1

NAME, AIMS, AND OBJECTIVES

Article 1. Name

The name of the organization is: Vietnam Association of Accountants and Auditors. The international trade name is: Vietnam Association of Accountants and Auditors. The abbreviated name is HKT or VAA.

Article 2. Purpose and Objectives

The Vietnam Association of Accountants and Auditors (hereinafter referred to as the Association) is a professional organization of organizations and individuals engaged in accounting and auditing in Vietnam.

The Association operates with the purpose of gathering and uniting organizations and individuals working in the field of accounting and auditing in Vietnam for the cause of maintaining and developing the profession; improving the quality of professional skills; preserving professional ethics to better serve economic and financial management requirements of the country, integrating with accounting and auditing professional organizations in the region and worldwide.

Article 3. Position

The Vietnam Association of Accountants and Auditors operates under the laws of the Socialist Republic of Vietnam. The Association is a member of the Vietnam Union of Science and Technology Associations (abbreviated as VUSTA), a full member of the International Federation of Accountants (abbreviated as IFAC) and the Southeast Asian Federation of Accountants (abbreviated as AFA). The Vietnam Association of Accountants and Auditors is subject to state management by the Ministry of Finance.

Article 4The Vietnam Association of Construction Contractors has its headquarters in Hanoi and branch offices or representative offices in Ho Chi Minh City, Da Nang, and other places both within and outside the country when required and in accordance with the provisions of national laws.

The Vietnam Association of Accountants and Auditors operates throughout the country, has its main office in Hanoi, possesses legal personality, self-funds, and is legally responsible for its own activities.

The Association's official publication is the Accounting Journal.

The Association has its emblem, seal, assets, finances, and separate accounts (Vietnamese currency and foreign currencies) at banks and State Treasury.

Chapter 2

TASKS AND POWERS

Article 5Duties of the Association

1. Participate with state agencies in drafting, revising, and supplementing legal documents on finance, accounting, and auditing, and concretizing, guiding policies, systems, and standards of accounting and auditing.

2. Organize and participate in scientific research on finance, accounting, and auditing.

3. Provide consultation, criticism, and social appraisal for national socio-economic development projects related to finance, accounting, and auditing when requested.

4. Gather, unite, and encourage members to help each other improve their capabilities, professional expertise, and financial, accounting, and auditing skills.

5. Manage the professional activities and ethics of members; promote and educate members to strictly comply with state laws and maintain and enhance professional ethics.

6. Participate in organizing training, examinations, issuing certificates for practicing accountants and auditors, and managing the practice of the accounting and auditing workforce according to the authorization of competent state agencies.

7. Fulfill responsibilities towards the Vietnam Union of Science and Technology Associations. Cooperate with domestic science and technology associations, international accounting associations, regional associations, and accounting associations of countries as prescribed by the state.

8. Protect the legitimate rights and interests of member organizations and members.

Article 6. Powers of the Association

1. Represent member organizations and members in activities related to the objectives, purposes, and duties of the Vietnam Association of Accountants and Auditors.

2. Organize scientific research and provide services on finance, accounting, and auditing for organizations, individuals, and members as needed in accordance with the law.

3. Organize training and upgrading of professional expertise, disseminate financial, accounting, and auditing policies and systems, and inform about scientific and technological achievements in finance, accounting, and auditing both domestically and internationally for members and the accounting and auditing workforce.

4. Support and assist members in conducting scientific research activities, participating in evaluating scientific works and projects in the fields of finance, accounting, and auditing.

5. Take the lead or participate in building programs and projects to propose solutions to develop the accounting and auditing professions to relevant state management agencies.

6. Publish specialized books, materials, and journals of the Association in accordance with the law for training, upgrading knowledge, exchanging experiences, updating information, and enhancing professional ethics.

7. Develop the organization and activities of the Association in accordance with the Statutes recognized by law.

8. Be eligible to join and participate in the activities of professional organizations within the country, region, and world as prescribed by law.

Chapter 3

MEMBERS

, Clause 1, Clause 2 Article 7a of this Regulation.Members of the Association.

Members of the Vietnam Association of Accountants and Auditors include: Regular members, Associated members, and Honorary members. Associated members and Honorary members are not eligible to run for election, nomination, or voting for leadership positions at any level of the Association and are not entitled to vote on Association matters.

Article 8. Regular members

1. Individual members: Vietnamese citizens working in the fields of finance, accounting, and auditing who agree with the Association's Statutes, have professional ethics, love their profession, actively engage in Association activities, voluntarily apply to join the Association, may become regular members if they meet one of the following three conditions:

a) Individuals currently working in accounting or auditing with a bachelor's degree in finance, accounting, or auditing or equivalent, having five years of practical work experience, and holding a certificate for accounting manager training as prescribed by the Ministry of Finance.

b) Lecturers, researchers, financial managers, accounting, and auditing staff with a bachelor's degree in finance, accounting, or auditing or equivalent, having five years of practical work experience.

c) Individuals holding a Certified Public Accountant (CPA) or Certified Auditor (CA) certificate from authorized organizations as prescribed by law.

2. Collective member: is the representative of a Vietnamese organization (enterprise, management agency, scientific research agency, educational and training institution) in the field of finance, accounting, and auditing, who agrees to the Association's Charter.

Article 9. Associated members

Citizens, Vietnamese organizations, and foreign-invested enterprises that do not meet the conditions to become formal members but have made significant contributions to building the Association and agree with the Association's Charter may be recognized as affiliated members.

Article 10. Honorary member

Vietnamese citizens with high prestige, capability in financial, accounting, and auditing activities, enthusiasm, and willingness to support the Association's operations may be invited by the Association to become honorary members.

Article 11. Procedures for Joining the Association

1. Individuals meeting the conditions to become formal members wishing to join the Association must submit an application for membership along with copies of their professional certificates to the Association's grassroots organizations. The grassroots organizations will review the application and recommend it to the President for consideration and decision on admission.

2. Organizations meeting the conditions to become formal members wishing to join the Association must have their representatives submit an application for membership to the President for consideration and decision on admission.

3. Citizens, Vietnamese organizations, and foreign-invested enterprises wishing to become affiliated members must submit an application for membership to the President for consideration and recognition.

Article 12. Procedure for removing a member's name from the rolls.

1. A member's name will be removed in the following cases:

a) An organization ceases operations, is merged, dissolved, or declared bankrupt;

b) An individual no longer wishes to continue, lacks health capacity, or has passed away;

c) Members who violate laws, professional ethics, or the Association's Charter shall have their names removed.

2. The decision to remove a member's name from the rolls is proposed by the Executive Board and decided upon by the President.

Article 13. Duties of Members

1. Adhere to the Association's Charter, implement all directives and resolutions of the Association, and actively engage in activities for the benefit of the Association.

2. Comply with all state regulations and the Association's rules regarding finance, accounting, and auditing.

3. Promote the development of new members and new affiliated organizations.

4. Participate in meetings and pay membership fees fully.

5. Continuously improve skills and capabilities in all areas, particularly in accounting, auditing, finance, and management.

6. Maintain and uphold professional ethics.

7. Protect the Association's honor and legitimate interests, and encourage participation in its activities.

Article 14. Rights of Members

1. Participate in the Association's activities.

2. Receive assistance and training from the Association to enhance professional expertise in finance, accounting, and auditing; and be provided opportunities to develop abilities related to their profession.

3. Be supported by the Association to implement initiatives, inventions, or research projects within the Association's capacity.

4. Have their legitimate rights protected by the Association during professional activities within the Association's jurisdiction.

5. Propose issues to the Association for submission to relevant state agencies concerning amendments, supplements, and improvements to policies and systems in finance, accounting, and auditing.

6. Participate in discussions and voting on all Association matters; be nominated, recommended, and elected to leadership positions at various levels of the Association.

7. Submit an application to leave the Association.

Chapter 4

ORGANIZATION OF THE ASSOCIATION

Article 15. Organizational Principles

The Vietnam Accounting and Auditing Association operates under the principle of centralized democratic self-management, self-financing, and collective work as prescribed by state regulations on associations and this Charter.

Article 16. The organizational structure of the Association includes:

1. At the central level: The Vietnam Accounting and Auditing Association.

2. At provincial and centrally-administered city levels (referred to collectively as provinces):

3. At grassroots levels: Branch Associations. Grassroots units with ten or more members engaged in specialized accounting and auditing activities may establish Branch Associations. If necessary, Provincial Accounting Associations may be established in provinces, subject to approval by the provincial People's Committee according to legal provisions. Provincial Associations agreeing to the Vietnam Accounting and Auditing Association's Charter and submitting applications for membership will be recognized as affiliated associations.

Article 17. National Congress of the Association

1. The highest leadership body of the Association is the National Congress, convened regularly every five years by the Central Executive Board of the Association. An extraordinary Congress may be convened if at least two-thirds of the Central Executive Board members or at least half of the total number of formal members request it. The tasks of the National Congress include:

a) Discussing and approving the report summarizing the Association's activities during the previous term;

b) Deciding on the direction and program of work for the next term;

c) Deciding on amendments and supplements to the Association's Charter (if necessary);

d) Elect the new term Central Executive Board of the Association.

Article 18. Central Executive Board of the Association

1. The Central Executive Board of the Association is the leadership body between Congress terms, convening annually. The number of Central Executive Board members is determined and directly elected by the National Congress.

2. The Central Executive Board has the following responsibilities:

a) Lead the implementation of the resolutions of the National Congress;

b) Lead the implementation of the Association's Charter;

c) Decide on the program of activities, budget, and organization of the Association;

d) Electing the Executive Board, President, Vice Presidents, General Secretary, and Inspection Board of the Association.

Article 19. Central Standing Committee of the Association

1. The Central Executive Board Standing Committee is the permanent body of the Central Executive Board, responsible for implementing Congress and Central Executive Board resolutions between sessions. The Standing Committee consists of the President, Vice Presidents, General Secretary, and other members. The number of Standing Committee members does not exceed one-third of the total number of Central Executive Board members. The Standing Committee meets regularly every six months. Extraordinary meetings may be convened by the President or when half of the Standing Committee members request it.

2. The Standing Committee appoints a Standing Office and specialized boards. The Standing Office, led by the President, oversees operations between Standing Committee sessions, organizes and supervises the implementation of Central Executive Board and Standing Committee resolutions.

Article 20. The Chairman of the Association

The President, elected from among Standing Committee members by the Central Executive Board, presides over meetings of the Central Executive Board, Standing Committee, and Standing Office, and oversees the implementation of Central Executive Board and Standing Committee resolutions.

- Deciding on the establishment of the Association's office, specialized boards, and subordinate organizations; appointing the Director of the Office, Heads of Specialized Boards, and leaders of subordinate organizations.

- Issuing operational regulations for the Association; deciding on the admission and removal of members and being accountable under the law for all Association activities.

Article 21. Vice-Chairman of the Association

The Vice President of the Association is elected by the Central Executive Board of the Association and assigned by the President of the Association to lead specific areas of activities and oversee the grassroots organizations of the Association. One Vice President of the Association may be authorized by the President to chair meetings or handle Association affairs when the President is absent.

Article 22. Secretary General of the Association

The Secretary General of the Association is elected by the Central Executive Board of the Association and carries out tasks assigned by the President of the Association and manages all activities of the Association's office.

Article 23. Inspection Board of the Association

1. The Central Executive Board of the Association elects the Inspection Board of the Association consisting of the Head, Deputy Head, and some members. The Head of the Inspection Board must be a member of the Central Executive Board.

2. The Inspection Board of the Association has the duty to inspect the implementation of the Charter of the Association; inspect the activities of the Central Executive Board and the financial status of the Association, its affiliated organizations, and member associations (if necessary); examine and resolve complaints if any.

3. The Head of the Inspection Board of the Association may be invited to attend regular meetings of the Standing Committee. The Inspection Board is responsible for reporting inspection results to the Central Executive Board and has the right to propose necessary measures, including proposing the convening of an extraordinary Congress to address important and urgent issues that arise.

Article 24. Specialized Boards and Affiliated Organizations

When necessary, the Standing Committee of the Association may consider and decide to establish specialized boards, economic organizations, centers, and services to generate financial resources and serve the development of the Association. The establishment of affiliated organizations of the Association shall comply with the provisions of the Law.

Article 25. Member Associations of the Association

1. The establishment of member associations directly under the Association must comply with the provisions of the law. Member associations have their own charters in accordance with the provisions of the Law and consistent with the Charter of the Vietnam Association of Accountants and Auditors.

2. Member associations are subject to guidance and inspection by the Vietnam Association of Accountants and Auditors.

Article 26. Grassroots Branches

1. Accounting Branches and Audit Branches are established based on professional units when there are ten or more regular members. Branches are grassroots organizations of the Association, subordinate to member associations or directly under the Central Association.

2. The highest leadership body of grassroots branches is the General Meeting of Members held regularly every two and a half years (30 months). An extraordinary meeting can be convened when at least two-thirds of the members of the Branch Executive Board or at least half of the total number of regular members request it.

3. The duties of the Branch Association General Assembly include:

a) Discuss and approve the report summarizing the branch’s activities during the previous term.

b) Deciding on the direction and program of work for the Branch Association during the next term.

c) Elect the Branch Chairperson and Deputy Chairperson for branches with less than fifty regular members; elect the Branch Executive Board for branches with more than fifty regular members.

d) Elect representatives to attend higher-level congresses.

e) Discuss and provide opinions on reports on activities, work programs, and charters of higher-level organizations.

4. The Branch Chairperson and Deputy Chairperson are responsible for implementing the resolutions of their level's congress and directives and resolutions of higher-level associations; leading the branch's work between congress terms; the Branch Executive Board elects the Chairperson, Deputy Chairperson, Secretary, and other standing members. The Branch Executive Board meets regularly every three months. Extraordinary meetings of the Branch Executive Board are convened by the Chairperson or when more than half of the Branch Executive Board members or the higher-level Executive Board request it.

Article 27Allowance for Responsibility

Standing members and members of the Executive Board and Inspection Board at various levels of the Association are entitled to a stipend during their association work. The amount of the stipend is determined by the same-level Executive Board, funded from the income generated by service activities of the Association at various levels.

Chapter 5

ASSOCIATION FINANCES

Article 28Income Sources of the Association

a) Membership fees collected from members. The membership fee rate is decided annually by the Central Executive Board of the Association for individual and collective members;

b) Income from service and advisory activities related to finance, accounting, auditing, scientific research, publishing, seminars, and vocational training;

c) Donations and sponsorships from domestic organizations and individuals;

d) Donations and sponsorships from foreign organizations and individuals;

e) Other income

Article 29. Expenditures of the Association

a) Expenditure on scientific and technical activities and advisory and service activities;

b) Expenditure on training and upgrading knowledge in accounting, auditing, and finance;

c) International cooperation expenditure;

d) Expenditure on salaries, allowances, travel expenses, insurance, welfare for dedicated staff working for the Association, and administrative management costs of the Association;

e) Other expenditures according to the Association's financial regulations.

Article 30. Financial and Accounting Management

The Association's finances and accounting are managed in accordance with the Association's financial and accounting regulations, complying with state laws on finance and accounting.

Article 31Financial Handling Upon Dissolution

When an organization of the Association is dissolved, a property inventory must be conducted, reported to the Association's Executive Board before disposing of remaining assets and funds, and dissolution procedures must be carried out in accordance with Decree No. 88/2003/NĐ-CP dated July 30, 2003, issued by the Government regarding the organization, operation, and management of associations.

Chapter 6

REWARD AND DISCIPLINE

Article 32. Awards

Organizations and members who achieve outstanding results in association work, or in accounting, auditing, and finance work, will be commended by the Association President or recommended for commendation by competent state authorities.

Article 33. Disciplinary measures

Organizations and members who damage the Association's reputation, violate the Charter and Resolutions of the Association will be disciplined according to the severity of the violation, ranging from reprimand to expulsion. In cases causing material losses, in addition to disciplinary measures, compensation must also be provided according to the law.

Chapter 7

IMPLEMENTING PROVISIONS

Article 34Procedure for Amending and Supplementing the Charter

Any amendment or supplementation to this Charter must be approved by the National Congress of the Vietnam Association of Accountants and Auditors.

Article 35. Effective date

This Charter consists of seven chapters and thirty-five articles, adopted by the Third National Congress of the Vietnam Association of Accountants and Auditors on March 26, 2004, and came into effect according to the approval decision of the Ministry of Home Affairs. The Central Executive Board of the Vietnam Association of Accountants and Auditors is responsible for guiding the implementation of this Charter.

The Central Executive Board of the Vietnam Association of Accountants and Auditors is responsible for guiding the implementation of this Charter./.