Up to now, there are 25,953 effective FDIs projects in Vietnam. The total registered capital is 331 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.
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.
The circumstances required to audit financial statements
According to the law on the independent audit by the Ministry of Finance issued, the objects required for auditing annual financial statements as follows:
- Foreign enterprises investment (FDIs);
- Credit institutions are established and functioning according to the law on credit institutions;
- Financial institutions, business insurance, business insurance brokers;
- Finally, the company, the issuer, and the securities business organization.
In addition, the executives if not feel assured about the quality of corporate financial reporting, could also hire the services of the audit to check the whole.
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.
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.