Tax, audit, and financial advisory are very important for business and independent audit services have been popular to foreign business. Vinasc was established in 2012, known as a leading auditing company in Vietnam.
Vinasc specializes in providing auditing, tax consulting, and enterprise risk advisory for foreign direct investment enterprises in Vietnam.
Innovation to enhance audit quality
Vinasc is commit to continuously identifying and implementing innovative approaches and tools to help deliver and enhance a quality audit. Vinasc is making a significant investment in innovations that enhance audit quality, bring greater relevance to audit findings, and ultimately enrich the client experience.
We also offer industry expertise and sound working knowledge, best practice, and benchmarking opportunities within specific industries. Our high-quality, risk-based audit approach will provide the basis for a meaningful advisory role. Our approach also relies on the support of information system specialists from our Performance Improvement service offering.
Responsibilities of the auditing company in Vietnam
The auditing company will perform the audit in accordance with Vietnamese auditing standards, related laws, and regulations. These auditing standards require auditing companies to adhere to such standards and codes of ethics, to make. a plan and conduct an audit to obtain reasonable assurance as to whether. financial statements, as a whole, contain material misstatements or not. In the audit, the auditing companies will carry out procedures to collect audit evidence. about data and information presented in the financial statements. Such procedures are conducted depending on an assessment by the auditors, including. the assessment of risks of material misstatements in the financial statements due to fraud or error.
The auditing company is responsible for informing the client of the contents and the plan. of the audit, for appointing auditors and qualified and experienced assistants to conduct the audit.
The auditing company performs the audit in the principles of independence, objectivity, and data confidentiality. Accordingly, the auditing company is not entitled to disclose to any third party without. the consent of the client, except as required by law. and relevant regulations, or in the case where such information as above has been widely available to the public or announced by the client.
The auditing company is responsible for requesting the client to confirm the explanations provide to the auditing company during the audit process. According to the Vietnamese auditing standards, compliance with these requirements and the Representation Letter from the Board of Directors and the Management Board of Client about related issues is one of the bases for auditing the company to give its opinions on financial statements of Client.
Limitation of the auditing company in Vietnam
Due to the inherent limitations of the audit as well as internal controls, there is an unavoidable risk that the auditors may not be able to detect material misstatements.
For purposes of assessment of risks, auditing companies will consider internal controls applied by Client in the preparation of financial statements to design appropriate audit procedures in each case, but not for the purpose of giving opinions on efficiency of the internal controls of the client. However, auditing companies will notify Client in writing of serious defects in the internal controls discovered by auditing companies during the process of auditing financial statements.
Finally, if you are interest in Vinasc’s Auditing Services in Vietnam, please contact us. As a result, we will send a letter of quotation for your consideration.