Our Statutory Audit services help you comply fully with Vietnamese regulations on audits of financial statements applied to foreign-invested companies.
In Vietnam, foreign-invested companies, state-owned enterprises and public companies (listed and unlisted) are required by laws to have their financial statements audited by an independent audit firm. DCPA helps you fulfill this compliance by auditing your accounts based on Vietnamese Accounting Standards for statutory filing or submission to local authorities.
Working to ensure compliance with up-to-date audit procedures and accounting standards can thus cause uncertainty for even the most experienced investors in Vietnam. Beyond facilitating compliance requirements, however, the annual audit presents an opportunity for the entity to conduct a deep dive into their finances and internal operations. DCPA can assist you a great deal in all such processes.
State-Of-Art Audit Approach
DCPA approaches your audit 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 audit 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 audit 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 delivery an audit 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 regulatory requirements 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 audit process, – as elaborated below – helps enhance your credibility in today’s demanding new marketplace.
As a final step in our audit 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 audit report.