Services
Independent Audit & Assurance
Trust in Us, Confidence in Your Future
Our services
Are you looking for a reputable audit firm with a trusted brand to strengthen stakeholder confidence? Do you require an audit due to legal obligations, investor requirements, or group consolidation needs from the parent company? Do you need an independent verification of compliance with local regulations, or a specific issue related to accounting, tax, or finance?
Explore our related service packages below:
Quotation process and service fees
To prepare and send you a tailored quotation, we kindly request that you provide relevant information via our form and/or through an in-depth discussion. Based on the information collected, we will analyze your needs and specific requirements in order to:
- Assess the feasibility of service delivery: Determine whether we can provide the requested service appropriately and at a guaranteed quality level.
- Advise on optimal solutions: Recommend alternative solutions (if any) to help optimize efficiency and cost-effectiveness for your organization.
If we are able to support you, we will propose a reasonable fee based on:
- An estimated workload of the engagement;
- The level of professional expertise required from our team.
Estimated response time: The quotation process will be completed within 12 to 24 hours upon receiving your request.
Frequently asked questions
1. What is an independent audit? Who is subject to mandatory independent audits? Are consolidated and aggregated financial statements required to be audited? What are the benefits of an independent audit?
Article 5 of the Law on Independent Auditing No. 67/2011/QH12 defines relevant concepts as follows:
Independent audit means the examination and expression of an independent opinion by a practicing auditor, an audit firm, or a branch of a foreign audit firm operating in Vietnam on financial statements and other audit-related work in accordance with an audit contract.
2. What regulations and standards must independent audits in Vietnam comply with, and who issues them? What are the key contents of these regulations?
The answer to this question is presented on the “Relevant Regulations” page.
3. How is an audit report prepared? If the audit opinion is an unqualified opinion, does that mean the financial statements are guaranteed to be free of material misstatements? What does “material misstatement” mean in the context of financial reporting?
After completing the audit procedures, the auditor is required to prepare the audit report in accordance with the relevant auditing standards and prescribed reporting formats, rather than using a free-form style. The applicable auditing standards include Standards No. 700, 705, 706, 710, 720, 800, 805, 810, 1000, 930, and 920.
Depending on the scope and nature of each audit engagement, the format and characteristics of the audit opinion will vary accordingly (see the respective standards for details).
4. If audited financial statements contain material misstatements due to fraud, who is responsible and to what extent? Why might an independent audit fail to detect fraud? What are the auditing standards’ requirements and guidance regarding fraud risk?
When fraud in financial statements is identified, the following parties may bear responsibility before relevant stakeholders:
- The Board of Management and the Board of Directors of the audited entity are accountable to shareholders/investors for allowing material misstatements due to fraud to occur.
- Internal departments (with risk management responsibilities) may be held accountable to the Board of Management and the Board of Directors if they fail to perform their functions adequately and appropriately.
- The audit firm and the responsible auditors may be held accountable to users of the financial statements if they fail to comply strictly with auditing standards related to fraud risk.
5. What is the role of independent auditing in Vietnam?
In Vietnam and around the world, the role of independent audit is highly important and multifaceted. Key roles include:
- Ensuring transparency and reliability
- Detecting and preventing fraud and errors
- Contributing to economic development and stability
- Assessing the effectiveness of financial management
- Protecting the interests of stakeholders
6. Who are considered related parties under auditing standards? What is the difference between related parties and affiliated parties as defined under accounting standards, auditing standards, and tax regulations?
According to paragraph 10 of VSA 550 – Related Parties:
Related party refers to:
(i) A party defined as a related party under the applicable financial reporting framework; or
(ii) If the applicable financial reporting framework contains minimal or no definition of a related party, then a related party is:
a. A person or another entity that has control or significant influence over the reporting entity, either directly or indirectly through one or more intermediaries;
b. Another entity over which the reporting entity has control or significant influence, either directly or indirectly through one or more intermediaries; or
c. Another entity that is subject to common control with the reporting entity through:
i. Common ownership;
ii. Common family relationships among owners; or
iii. Shared key management personnel.
However, entities under common state control (such as those managed by People’s Committees of provinces, cities, or other regional/national authorities) are not considered related parties unless they are involved in significant transactions or share resources to a material extent with another entity.
7. What should businesses pay attention to in their first-year audit?
Under the scope of Vietnamese Standards on Auditing (VSA), a first-year audit is defined as an audit engagement in which:
- The prior period’s financial statements were not audited; or
- The prior period’s financial statements were audited by a predecessor auditor.
8. According to auditing standards, how do auditors collect audit evidence for the existence of inventory?
Audit evidence includes all documents and information related to the audit engagement, based on which the auditor draws conclusions and forms the audit opinion. The collection of audit evidence regarding the existence of inventory is governed by Auditing Standard No. 501: Audit Evidence – Specific Considerations for Selected Items and Events.
Brand commitment
Crowe Vietnam is committed to building and delivering on its brand personality, with the goal of fostering trust and providing an exceptional experience throughout our journey with clients and partners.
High professional quality at a reasonable cost
Crowe Vietnam is committed to delivering high quality solutions and services at reasonable costs, ensuring an exceptional client experience. We consistently strive for differentiation and continuously enhance the professional capabilities of our team to best meet the evolving needs of our clients.
Professionalism
All our work is carried out meticulously and professionally, both in form and content. We maintain clear and detailed processes and guidelines to ensure efficient organization and execution. Work quality is always our top priority, strictly adhering to professional standards and best practices, while upholding the highest level of professional ethics.
Integrity and Kindness
Consistency between words and actions is a core principle at Crowe Vietnam. We are committed to delivering exactly what we declare or promise to our clients, partners, employees, and stakeholders. We uphold strong business ethics and always prioritize the common good, never compromising our commitments or harming others’ interests for personal gain.
Compliance
We are firmly committed to strict compliance with the law, and we absolutely refrain from any unlawful or fraudulent activities. We implement stringent and effective control measures to prevent and deter any misconduct, ensuring transparent operations and adherence to ethical standards.
Efficiency
We place a strong emphasis on efficiency and optimization in all our operations, aiming to achieve objectives using the most appropriate methods, timelines, and resources. We continuously improve our service delivery processes and actively apply technology including digitalization, artificial intelligence, and big data to enhance operational efficiency and deliver an exceptional client experience.
Clients
Our client portfolio for Independent Audit & Assurance services includes:
Contracts
Clients
FDI Enterprises
Clients from Japan, South Korea, Taiwan, and the EU
Manufacturing Sector
Client and Partner Profiles
We aspire to collaborate with clients and partners who are committed to:
Kindness
Being ethical towards clients, employees, and partners through honesty, transparency, and respect for the legitimate interests of all parties.
Legal Compliance
Adhering to all relevant business regulations, including licensing, accounting, taxation, mandatory insurance, labor, goods, and environmental requirements.
Sustainable Development
Balancing profitability with the long-term interests of the community. Building a brand founded on trust and respect from clients and society.
Insights
Crowe Vietnam regularly publishes professional materials on auditing to provide valuable information and insights for investors and businesses.
News
Blog
Subscribe to updates from Crowe Vietnam
Stay informed (at no cost) with timely updates on regulatory changes, expert insights, practical publications, upcoming seminars, and other key business events.
Click here to select the types of updates and topics you wish to receive from us.
Seminars
With the aim of delivering exceptional services to our clients, Crowe Vietnam regularly organizes in-person seminars and online webinars featuring insights from our experienced professionals and esteemed guest speakers.
Note: The seminar schedule below is subject to change.
Overview of Crowe Vietnam
Why choose us for this service?
Choosing the right service partner is a key factor in ensuring both effectiveness and peace of mind. Here’s why Crowe Vietnam is the trusted choice for you.
Crowe Vietnam is a full member of Crowe Global, a top 10 global network providing audit, accounting, tax, and advisory services, with over 798 offices in 150 countries. Our international brand ensures services of outstanding quality, adhering to international standards and enhancing clients’ credibility in the market.
With a team of highly experienced professionals holding international qualifications such as ACCA, CPA, ICAEW, and CA ANZ, Crowe Vietnam is committed to providing audit and assurance services with exceptional expertise, fully complying with both international and local auditing standards.
Crowe Vietnam’s audit clients will regularly receive useful newsletters and publications, attend professional seminars with experienced experts, receive dedicated professional support, and utilize various other modern and beneficial tools that Crowe Vietnam has been developing.
We always prioritize confidentiality and compliance, employing rigorous control measures to protect client information and mitigate any data security risks. This guarantees maximum transparency and safety throughout our service delivery process.
Leveraging our extensive connection within the Crowe Global network, Crowe Vietnam is always ready to assist clients by facilitating access to international experts, offering comprehensive consultation and support to effectively address complex issues within the global business environment.
Crowe Vietnam is committed to providing high-quality audit solutions at reasonable fees, optimizing costs for our clients. We continuously strive to improve and enhance work efficiency, enabling clients to achieve maximum benefits within the most reasonable budget.
Senior Personnel
Our senior personnel responsible for this service are auditors with deep professional expertise, holding specialized qualifications and certifications from Vietnam and/or international bodies. They also possess extensive experience across a wide range of industries and sectors.
