Globalisation has facilitated the rescaling of local regulatory institutions—including accounting—for integration to the global due to the necessities and incentives the emerging global capitalist system of power presents that advocates transnational governance. Drawing on neo-Gramscian interpretation of globalisation, we examine intraprofessional competition in accounting in Vietnam within the broader global-local dynamic. Vietnam’s professional accounting organisation was transformed along with the rescaling of local institution for integration with the transnational regulatory norms necessitated by neoliberal ideology of globalisation. The outcome of local professional group competition for jurisdictional control and international accounting body effort to access the Vietnamese market was shaped by an underlying interplay of the local socialist market ideology of the Vietnamese state and the global neoliberal ideology. No professional body secured jurisdictional monopoly while the state allowed competition among local and transnational accounting bodies in Vietnam in line with the neoliberal ideal of market competition within transnational governance norms. However, the process constituted a hybrid space by preserving the local ideological traces by institutionalising the state control of entry into the profession through certification examinations. The re-scaling of the local institutions preserved the territorialised underpinning of power while a hybrid space for local and transnational accounting professionals was constituted in which the local ideology governs the notion of professional autonomy, which is subsumed within the state while the market competition along the professional bodies—local and transnational—are governed by the neoliberal ideology. Little restrictions applied regarding foreign professional body members passing through the Vietnamese certification exams to join either of the local bodies, thereby providing an appearance of market openness that resonated with transnational governance norms.