- June 21, 2020
- Posted by: Founda media
- Category: Auditing
How to calculate financial statement audit fees
- Step 1 to calculate the financial statement audit fee, the Auditor will ask for financial report data including balance sheet + business results + LCTT + TM Financial statements
- Step 2 of calculating the financial statement audit fee is to review the documents
- Make a fee calculation table that includes the cost for the auditor to find out information and basic analysis: how many hours x unit price + the cost for the audit assistant to perform the audit + how much is the review manager + other costs …
- Customer size and complexity: subsidiaries, independent companies, corporations,
- The complexity and risks of the internal control system
- Other requests and wishes of customers: consulting, reviewing...
- The time taken to perform the audit and the number and quality of audit staff required to complete the audit.
- Currently, the Ministry of Finance does not regulate the floor level of audit fees, but the Auditing Companies in the VACPA audit association cannot agree on a document regulating the fee level due to violation of the Competition Law.
- When you need more information on how to calculate financial statement audit service fees, please contact us for more information and appropriate audit fees.
10. Often, in parallel with providing audit opinions, we provide companies with an added value of pointing out shortcomings and shortcomings of the internal control system so that the company can improve its performance. improve your system. Furthermore, audited reports will be more trusted by investors, partners and banks.
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