CIRCULAR

ON THE ACCOUNTING REGIME APPLICABLE TO THE OPEN FUND

Pursuant to the Law on accounting No. 03/2003/QH11, of June 17, 2003;

Pursuant to the Government’s Decree No. 128/2004/ND-CP, of May 31, 2004 on detailing and guiding the implementation of a number of articles of the accounting law, applicable to the state accounting domain and the Government’s Decree No. 129/2004/ND-CP, of May 31, 2004 detailing and guiding the implementation of a number of articles of the accounting law, applicable to business activities;    

Pursuant to the Law on Securities No. 70/2006/QH11, of June 29, 2006 and Law No. 62/2010/QH12 , of November 24, 2010, on amending and supplementing a number of articles of the Law on Securities No. 70/2006/QH11, of June 29, 2006;

Pursuant to the Decree No. 58/2012/ND-CP, of July 20, 2012 detailing and guiding the implementation of a number of articles of the Securities Law and the Law amending and supplementing a number of articles of Securities Law;

Pursuant to the Government’s Decree No. 118/2008/ND-CP, of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;  

At the proposal of director of Department of Accounting and Auditing regimes;

The Minister of Finance promulgates the Circular on the accounting regime applicable to the open Fund.

Article 1. To promulgate together with this Circular the accounting regime applicable to the open Fund including 4 parts:

Part 1: The regulation on accounting vouchers;

Part 2: System of accounts;

Part 3: Regulations on accounting book;

Part 4: System of financial statement.

Article 2. Scope of regulation

This Circular provides for contents relating to the accounting vouchers, accounts, accounting measures, accounting books, forms of Financial statement, method of formulation and presentation of Financial statement applicable to the open Funds which are established and operate in accordance with laws on securities.

Article 3. Subjects of application

This Circular applies to fund management companies, supervision banks and organizations, individuals involving activities of open Funds.

Article 4. The accounting principles and measures applicable to the accounting of activities of open Funds

The open Funds comply with the accounting principles and measures specified in the relevant  accounting standards of Vietnam and specific regulations in this accounting regime.  

Article 5. Effect

This Circular takes effect on January 01, 2013.

Article 6. Implementation organization

1. The director of Department of accounting and auditing regimes, chairperson of State Securities Commission, General Directors, and Directors of fund management companies and heads of relevant units shall implement this Circular.

2. In the course of implementation, any arising problems should be reported to the Ministry of Finance for study and settlement.

The accounting regulations are not translated into English herein.

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