Review of Financial Statements
DCPA offers review of financial statements to meet the increasing demand of business organizations despite its opinion being of lower assurance than in a standard audit.
Review of financial statements
We offer limited review services (less detailed and hence providing a lower level of assurance than am audit) for interim reports of public companies (listed and unlisted) and other entities as required.
Under Vietnam’s prevailing laws, listed entities, large public companies are subject to review of [semi-annual] financial statements by independent audit firms. On a non-statutory basis, any companies or organizations that wish to add credibility to the financial statements submitted to stakeholders such as investors, shareholders, suppliers, lenders, business partners may have their financial statements reviewed along with auditors’ report, which will help clients earn trust and confidence of stakeholders.
State-of-the-art Review Approach
DCPA approaches the review with a solid knowledge of your organization’s business practices, operations, and industry sector. We also bring you an in-depth understanding of evolving accounting practices and changes in the regulatory environment. As a result, we can provide you with a fully integrated review plan that’s driven by a fine-tuned methodology, one which allows you to identify new and emerging risks, and assess the effectiveness of your internal controls.
In addition, as every business is unique, our professionals work with you to develop an review approach tailored to each organization. After achieving an understanding of your business, we pinpoint areas of potential risk, ensuring that the necessary internal controls are in place, and — when we detect weaknesses — recommend effective, practical solutions.
Standard Delivery Process
The process of delivering the review service consists of the following standard steps: I) kick-off discussion; ii) planning (at DCPA offices); iii) fieldwork (at client’s premises); iv) finding discussion; and finally, v) reporting. Based on actual situations, this process can be slightly customized to meet client’s needs or adapted to client’s circumstance. In many cases, reporting may consist of interim reporting and final reporting.
Significant Added Value
We can help you go beyond mandatory or professional requirements (if any) to respond dynamically to the diverse needs of your crucial stakeholders, including management, board of directors, creditors, and shareholders. The outcome of the final step of the review process, – as elaborated below – helps enhance your credibility in today’s demanding new marketplace.
As a final step in our review process, we assess the accounting principles and estimates used to prepare your financial statements. Based on this thorough analysis, DCPA is ideally positioned to offer you useful business advice and help you benchmark your practices and results with those of your competitors. We also provide you with insights and solutions concerning potential internal control deficiencies. We call them business-focused recommendations, included in the management letter delivered along with the auditor’s report.
Other Audit & Assurance services
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B17-16, Sunrise City View, 33 Nguyen Huu Tho St., Dist. 7, Ho Chi Minh City, Vietnam
2/F Helios Tower A, 75 Tam Trinh St., Hoang Mai Dist., Hanoi, Vietnam
+84 965 964 896