1. 1.      What is a financial statement audit?

Audited financial statements is the activity of independent and competent auditors to collect and evaluate audit evidence on audited financial statements to check and report on the level of truthfulness, accuracy, reasonableness of audited financial statements with established standards and norms.

  1. 2.      Content of financial statement audit.

Job audited financial statements Your unit's ending year/year complies with Vietnamese Auditing Standards and International standards recognized in Vietnam.

The audit must accomplish the following:

– Management and use of assets and capital resources of the unit.

– Compliance with the State's economic, financial and accounting management regimes.

The audited financial statements The following issues must be clarified:

– Does the information on the Financial Statements reflect honestly and reasonably the key aspects of the unit's financial situation at the end of the accounting year; on the operating situation of the unit during the accounting year.

– Is financial information prepared on the basis of current financial and accounting regimes of the State of Vietnam? Are these regimes applied consistently and promptly?

–     The audit also requires comments on the unit's internal control system and accounting system, including comments on:

+ Methods of preparing financial statements and management reports, related accounting documents.

 + Recording accounting documents, circulating accounting documents, recording accounting books and managing and storing accounting documents.

+ Accounting work and internal control system.

  1. 3.      Objectives of financial statement audit

To serve the management goals of units, investors, managers..., units need to have accurate and timely financial information to make their economic decisions. me. This information needs to be guaranteed at a high level of reliability, ensuring honesty and objectivity.


The purpose of a financial statement audit is to provide independent opinions of the Auditor and the Auditing Company on the truthfulness and objectivity of the financial statements of the audited entity. The audit also includes providing comments on financial and accounting work to help the unit further improve its accounting and financial management work, providing reliable information and meeting customer needs. Respond promptly to management requirements of units.

The audited financial statements Must comply with Vietnamese Auditing Standards, International Auditing Standards accepted in Vietnam, current regulations on finance, accounting and auditing of the State of Vietnam and other relevant regulations. other related.

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4. Which company must have its financial statements audited?

The State encourages businesses and organizations to perform audit activities before submitting to state agencies. However, for some businesses with specific characteristics, the State requires these businesses and organizations to be audited when submitting financial reports and when making public financial statements, there must be an audit report. attached math.

The 2011 Law on Independent Auditing stipulates that mandatory auditing is auditing of annual financial statements, settlement reports and other financial information to contribute to publicity and transparency while also detecting and preventing fraud. prevent violations of the law.

The Government issued Decree 17/2012/ND-CP guiding the Law on Independent Auditing, with regulations on businesses and organizations whose annual financial statements are required by law to be audited and paid for by the enterprise. Auditing branches of foreign auditing firms in Vietnam include:

“- Enterprises with foreign investment capital;

– Financial institutions, insurance enterprises, reinsurance enterprises, insurance brokerage enterprises, branches of foreign non-life insurance enterprises.

– Credit institutions established and operating under the Law on Credit Institutions, including foreign bank branches in Vietnam;

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– Public companies, issuing organizations and securities trading organizations.”

In addition, businesses and organizations must be audited by auditing firms and branches of foreign auditing firms in Vietnam, including:

– Enterprises and organizations in which state-owned corporations and corporations hold 20% or more of voting rights at the end of the fiscal year must be audited for their annual financial statements;

“- State-owned enterprises, except state-owned enterprises operating in the field of state secrets according to the provisions of law, must have their annual financial statements audited;

– Enterprises whose listed organizations, issuing organizations and securities trading organizations hold 20% or more of voting rights at the end of the fiscal year must be audited for their annual financial statements;

– Enterprises and organizations implementing important national projects and group A projects using state capital, except for projects in the field of state secrets as prescribed by law, must be audited for reports. Final settlement report of completed project;

– Auditing firms and branches of foreign auditing firms in Vietnam must be audited for annual financial statements.”

The Ministry of Finance also recommends that agencies and functional units not accept financial reports that do not attach audit reports of businesses and organizations. According to the law, the act of submitting financial reports to competent state agencies without attaching audit reports for cases that are required by law to be audited will be fined from 20,000,000 VND. up to 30,000,000 VND

5. Scope of audit work

The audit work is performed in accordance with Vietnamese Auditing Standards, including tests and other audit procedures that the auditor considers necessary in each specific case. The audit will create an audit plan to detect material errors. During the audit process, the scope of the audit will be expanded to ensure:

– All documents, accounting books and accounting accounts are prepared, recorded and stored in accordance with the operating situation of the unit, with a close logical relationship between accounting documents and accounting books. and financial reports of the unit.


– The accounting system and financial reports of the audited unit have been built appropriately, honestly and accurately reflecting the financial situation of the unit at the end of the fiscal year.

– The financial reports have honestly and reasonably reflected the financial situation at the end of the audited period/fiscal year.

6. Audit Report and Management Letter

At the end of the financial statement audit, the auditor and the auditing company will have to prepare and issue to the enterprise an audit report on the financial statements at the end of the period/year.

Management letter (if any): At the end of the audit of the period/yearly financial statements, the auditing company will issue a management letter (if any) to propose to you to further improve the accounting system. , internal control system and overcome weaknesses that auditors and auditing companies notice during the audit process.

7. Quote for financial statement auditing services

AACS Auditing Company with a team of auditors and auditors with many years of audit consulting for businesses, are well-trained and always updated with knowledge related to accounting, auditing and taxes... ….Therefore, AACS Company guarantees to provide your company with the fastest, most accurate, and most prestigious financial statement auditing service.

After completing the audit of the financial statements according to the audit contract, we, AACS Auditing Company, always accompany your business to answer all questions, advise and update the latest regulations of the Government. Laws related to accounting, taxes... ensure businesses operate safely in accordance with the provisions of law.

Please contact AACS Auditing Company immediately to receive information about financial statement auditing services as well as quotes for auditing services.

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