2026 is considered a significant milestone for Vietnam's Finance and Accounting sector as a new legal framework officially replaces many regulations that have been in effect for over 10 years. The issuance of Circular 99/2025/TT-BTC, replacing Circular 200/2014/TT-BTC, is not merely a change in legal document but also opens a new phase of profound reform in financial management thinking.
Simultaneously, state audit activities will be restructured towards real-time data monitoring from March 2026; penalties for invoice violations will also increase significantly according to Decree 310/2025/ND-CP, with fines potentially reaching 80 million VND. These changes create an urgent need for accountants and business owners to update and adjust their processes to ensure compliance from the beginning of the fiscal year.
The legal landscape of Accounting and Auditing in 2026
The year 2026 marks a significant shift from the Vietnamese Accounting Standards (VAS) system towards a more aligned approach with International Financial Reporting Standards (IFRS). This is not simply a technical revision of accounting practices, but a move toward a data-driven, transparent, and fully digitized governance model.
The main objectives of the new regulations include:
- Increase the transparency and comparability of financial reporting.
- Reduce rigid forms and empower businesses with more flexibility.
- Promoting the application of technology in risk management and control.
In this context, a thorough understanding and correct application of the new regulations becomes a prerequisite for businesses to operate stably and achieve sustainable development.
Major changes to corporate accounting regulations from January 1, 2026.
From the beginning of 2026, Circular 99/2025/TT-BTC officially comes into effect, replacing the entire previous guidance system under Circular 200/2014/TT-BTC. This document directly regulates all activities related to recording, reflecting, and presenting financial information of enterprises.
Autonomy but increased accountability
A notable new feature is that businesses are allowed to develop their own document templates and accounting systems tailored to their specific operations. However, this autonomy comes with clear obligations:
- Internal accounting regulations must be issued in writing.
- Self-designed accounting documents must ensure they contain all the mandatory information required by the Accounting Law.
- The chief accountant is responsible for explaining the accuracy and legality of the system when inspected by regulatory authorities.
This approach gives businesses more flexibility in management but at the same time raises the requirements for internal control.
Adjusting the accounting system
To adapt to increasingly complex trading practices, the account system has been significantly updated:
Accounts that have been closed:
- Account 161 – Expenditure on business activities
- Account 441 – Capital Investment for Basic Construction
- Account 611 – Purchases
- Account 631 – Production Cost
New accounts added:
- Account 215 – Biological Assets
- Account 332 – Dividends and profits payable
- Account 82112 – Additional corporate income tax expense based on global minimum tax rate.
Additionally, account 112 has been renamed "Demand Deposits" to more accurately reflect the nature of liquidity when preparing reports.
Notably, the "Balance Sheet" has been renamed "Statement of Financial Position," reflecting a shift in approach that emphasizes net realizable value and recognizes impairment losses on assets rather than solely relying on cost.
Regulations for small and medium-sized enterprises (SMEs)
The year 2026 will allow small and medium-sized enterprises (SMEs) to flexibly choose their accounting system. If applying Circular 99/2025/TT-BTC, businesses need to:
- Apply consistently for at least one financial year.
- Re-present the comparative data when changing modes to ensure continuity.
This is seen as a stepping stone to help SMEs gradually adapt to a more professional accounting environment.
State audit policy from March 2026
From March 1st, 2026, Circular 03/2026/TT-KTNN establishes an audit methodology based on risk management and digital data.
Switch to real-time control.
Instead of traditional post-audit sampling, the auditing agency will apply a continuous monitoring method based on electronic data. The system operates on a "rolling" mechanism, helping to detect risks as soon as they arise.
Audit priority criteria
The entities that are likely to be included in the audit plan include:
- Large-scale enterprises, key infrastructure projects
- Credit institutions with high systemic risk
- The entity has not been audited for 3-5 consecutive years.
Making the criteria public helps to enhance transparency and fairness.
Stricter enforcement of invoice penalties according to Decree 310/2025/ND-CP
According to Decree 310/2025/ND-CP, the penalties for administrative violations related to invoices have increased significantly:
| Behavior | Fine amount (VND) |
| Do not issue invoices for 50 or more items. | 60,000,000 – 80,000,000 VND |
| Issuing invoices at the wrong time (100 or more invoices) | 50,000,000 – 70,000,000 VND |
| Providing false information about taxpayer's assets. | 6,000,000 – 10,000,000 VND |
| Do not provide bank account information when requested. | 10,000,000 – 16,000,000 VND |
Note: Individuals who violate the regulations face half the penalty imposed on organizations.
Strict control over invoice timing and declaration information is key to avoiding major financial risks.
What preparations should businesses make for 2026?
To adapt effectively to the new legal framework, businesses should:
- Update your accounting software to reflect the new chart of accounts.
- Develop and issue internal accounting regulations.
- Training staff on new skills such as global minimum tax requirements.
- Review the invoicing process to ensure timely and complete information is provided.
Early preparation and a clear transition plan will help businesses proactively control risks, optimize their accounting systems, and ensure full compliance in fiscal year 2026.
Conclude
2026 is not only a time for changes in legal documents but also a period of comprehensive restructuring of the accounting and auditing system towards transparency, digitalization, and alignment with international standards. From the application of Circular 99/2025/TT-BTC, adjustments to the accounting system, innovation in auditing methods according to Circular 03/2026/TT-KTNN, to stricter sanctions on invoices according to Decree 310/2025/ND-CP, all place higher demands on accuracy, timeliness, and accountability from businesses.
In this context, proactively reviewing processes, updating software, and training accounting staff is no longer an option but a mandatory requirement for safe operation in the new fiscal year. If businesses need a comprehensive, cost-effective solution that ensures compliance with current legal regulations, they can consider our options. accounting services MAN's professionals are here to provide timely advice and support. Proactive preparation today is the best way to minimize risks and enhance sustainable financial management capabilities in the future.
Sources and legal basis:
- Circular 99/2025/TT-BTC was issued by the Ministry of Finance on October 27, 2025.
- Circular 03/2026/TT-KTNN issued by the State Audit Office on January 12, 2026.
- Decree 310/2025/ND-CP on administrative penalties for tax and invoice violations.
- Resolution 110/2025/UBTVQH15 on adjusting the personal income tax deduction for dependents.
Contact information MAN – Master Accountant Network
- Address: No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City
- Mobile/Zalo: 0903 963 163 – 0903 428 622
- E-mail: man@man.net.vn
Content production by: Mr. Le Hoang Tuyen – Founder & CEO MAN – Master Accountant Network, Vietnamese CPA Auditor with over 30 years of experience in Accounting, Auditing and Financial Consulting.
Frequently Asked Questions about the Accounting and Auditing Law of 2026
Are businesses required to comply with Circular 99/2025/TT-BTC from January 1, 2026?
Yes. From January 1st, 2026, Circular 99 officially replaces Circular 200/2014/TT-BTC and becomes the new legal basis for the accounting regime of enterprises. Therefore, units within its scope must update their accounting books, accounts, and reports according to the new regulations.
Do businesses that design their own documents need to seek approval?
No prior approval is required, but it is mandatory to: Issue written internal accounting regulations, ensure that the document templates contain all the required information according to the Accounting Law, and be prepared to provide explanations when tax authorities or auditors conduct inspections. Greater autonomy means greater accountability.
When changing accounting methods, is it necessary to restate the previous year's figures?
Yes. If a business changes its accounting system (for example, an SME switches to applying Circular 99), it must restate the comparative figures from the previous period to ensure the continuity and transparency of its financial statements.
What notable changes will there be to the State Audit Office from March 2026?
According to Circular 03/2026/TT-KTNN, the auditing methodology is shifting strongly towards data-driven monitoring and real-time risk management. This means that errors can be detected during the period instead of waiting until the end of the year.
