VINASC is an independent auditing services company operating in Ho Chi Minh City, Dong Nai Province, Binh Duong Province, Long An Province, and Phu Quoc Island. We provide accounting, auditing, tax advisory, and other advisory services to foreign-invested enterprises (FDIs).
Overview of investment situation in Vietnam
Up to now, there are 30,827 effective FDIs projects in Vietnam. The total registered capital is 362.58 billion USD. Mainly concentrated in Ho Chi Minh City, Binh Duong, Long An, and Dong Nai. In addition, there is the development of some types of high-level services to support the investment process such as legal services, accounting services, auditing services in Vietnam.
Such kind of business investment environment is good news for the investors. Besides, the transparency of information is more important than ever. The managers, investors as well as authorities are very much expecting the reliability of the information on the financial statements of the companies.
The demand for auditing services in Vietnam
Keeping up with the continuous development trend of the economy and difficulties in ensuring the truthfulness and reasonableness on the financial statements that many companies are facing, Vinasc auditing firm has been providing auditing services in Vietnam.
Contents of the auditing services
Firstly, Vinasc will provide service of auditing financial statements of the entity, including balance sheet, income statement, the statement of changes in equity (if any), statement of cash flows and notes to the financial statement. Secondly, the audit is conducted by Vinasc for the purpose of providing audit opinion on the financial statements of the entity.
The financial statements are prepared in accordance with Vietnamese Accounting Standards, Vietnamese business accounting regimes, and regulations related to the preparation and presentation of financial statements.
Finally, Audit of the financial statement, Vinasc will audit the financial statement of the entity in accordance with the Vietnamese Accounting Standards.
The independent auditing services in Vietnam of Vinasc include
- Understanding the clients and their operating environment;
- Studying accounting policies and business processes;
- Analyzing the financial statements;
- Evaluating internal control system and fraud risk;
- Establishing the importance level and sampling method;
- Witnessing the checking of money, inventory, and fixed assets at the time of preparing financial statements;
- Sending a letter confirming the balance of important items;
- Checking accounting books and evidence at the clients’ place;
- Communicating with the clients about the limitations and shortcomings of the accounting and internal control systems to improve the efficiency of business operations of the clients;
- Furthermore, providing audit opinions and issuing audit reports.
- Finally, surveying the quality of annual auditing services to continuously improve the capacity of Vinasc.
Why should you choose Vinasc’s auditing services in Vietnam?
- Costs are reasonably assured depending on the sizes, business lines, production and business characteristics of the clients;
- Detecting and correcting errors in financial statements and tax reports in time;
- Our auditing services also provide advice on effective internal control operations;
- The companies may feel secure when providing financial statements outside, keeping credibility with investors, clients as well as authorities.
Upon the completion of the audit, Vinasc shall provide the entity with sets of audit reports enclose with the audited financial statement and sets of management letters mentioning errors and deficiencies to be correct and supplement and recommendations of the auditors to complete the accounting system and internal control system of the entity. The number of audit reports and management letters can change dependent on the demand of the entity.
Finally, if you are interested in Vinasc’s Auditing Services in Vietnam, please contact us. We will send a letter of quotation for your consideration.