A financial statement audit is an annual statutory requirement for foreign-invested enterprises, state-owned enterprises, credit institutions, financial institutions, insurance companies, and companies listed or registered for trading on the stock market. HNAPA’s practising auditors have audited many FDI companies, corporations and diversified groups in Vietnam.
Beyond our independent audit opinion, we pay particular attention to compliance with the tax regulations relevant to our clients’ operations and provide recommendations to strengthen their accounting and internal control systems.
Scope of Services
- Audits of annual and interim financial statements in accordance with Vietnamese Standards on Auditing.
- Special-purpose engagements under VSA 800: audits of owners’ equity, profit distribution schedules, summaries of receivables, and financial statements prepared under tax regulations to determine taxable income.
- Reviews of financial statements.
- Agreed-upon procedures on financial information.
- Audits of financial statements for tax purposes and tax finalisation services; operational audits, compliance audits and internal audits.
Our Audit Approach
- Overall planning: understanding the client, its operating environment and industry; identifying areas with a high risk of material misstatement; agreeing the scope, plan and audit team with management.
- Detailed planning: assessing the control environment and controls over significant transactions and balances; assessing risk by account and assertion.
- Fieldwork: tests of controls and substantive procedures; confirmations of bank balances, receivables and payables, and related-party transactions; attendance at counts of cash, inventory and fixed assets.
- Completion: summarising results, discussing findings with management, and issuing the auditor’s report and management letter; continued advice on matters of concern to the client.
What You Gain
- An independent auditor’s report trusted by regulators, banks, investors and parent companies.
- A management letter that clearly identifies errors and risks, with specific remedial recommendations.
- A tax compliance review that reduces risk at tax finalisation and during tax audits and inspections.
