Services
Governance, Risk and Compliance (GRC)
Trust – Compliance – Growth
Our services
Are you looking for a trusted advisory partner to help your organization build a strong corporate governance system, ensuring transparent, effective operations and compliance with legal regulations? Do you need a comprehensive solution to identify, assess, and control risks, enabling your business to proactively respond to market fluctuations? Or are you facing the challenge of balancing restructuring, value optimization, and increasingly strict legal requirements?
At the same time, are you eager to strengthen your team’s capabilities through specialized training programs, equipping your staff with the mindset and skills to effectively manage risks and ensure compliance?
Explore our related service packages below:
Quotation process and service fees
To prepare and send a quotation to you, we kindly request that you provide certain relevant information using our template and/or through in-depth discussions. Based on the collected information, we will analyze your specific needs and requirements in order to:
- Assess the feasibility of the service: Determine whether we can deliver services that meet your needs appropriately and with assured quality.
- Advise on optimal solutions: Recommend alternative solutions (if any) to help optimize efficiency and costs for you.
In cases where we are able to support you, we will propose a reasonable fee based on:
- The estimated workload of the project.
- The professional qualifications of the personnel involved.
Estimated timeframe for completion: This quotation process will be completed within 12 to 24 hours after receiving your request.
Frequently asked questions
1. When does a business need to evaluate its internal control system?
- When expanding scale or changing the business model – Changes in organizational structure can introduce new risks, requiring the company to review and strengthen its control system.
- Before and after incidents or fraud occur – If the company experiences financial errors, fraud, or asset loss, evaluating internal controls helps identify the causes and recommend corrective actions.
- When required by investors, regulators, or independent auditors – Listed companies, firms with foreign investment, or organizations in highly regulated sectors often need periodic evaluations to ensure compliance.
- Before undertaking significant transactions – Activities such as IPOs, M&A, capital raising, or financial restructuring require a robust internal control system to ensure transparency and effective risk management.
- Periodically to improve operational efficiency – Companies should proactively assess their internal controls to detect weaknesses early, optimize processes, and enhance risk management capabilities.
2. What should a business prepare before conducting an internal control assessment?
Before conducting an internal control assessment, the business should prepare the following:
- Internal process and policy documents – Including organizational charts, business procedures, operational regulations, risk control policies, and delegation and authorization frameworks within the company.
- Financial reports and accounting records – Provide financial data, accounting books, tax reports, and related information to evaluate the accuracy and transparency of the control system.
- Previous audit records (if available) – Internal or external audit reports help identify existing issues and necessary improvements.
- List of risks and existing control measures – Assess the potential risks the business has identified along with the current control measures in place.
- Information technology systems and related data – Provide details about ERP systems, accounting software, enterprise management tools, and other internal control support systems.
- Coordination from relevant departments – Ensure that personnel from finance, accounting, internal audit, legal, operations, human resources, etc., are ready to support and provide information as needed.
- Assessment objectives – Clearly define the business’s purpose for conducting the internal control assessment (e.g., improving operational efficiency, ensuring legal compliance, preventing fraud, preparing for an IPO, etc.).
Proper preparation will help the assessment process run smoothly, save time, and achieve more accurate results.
3. What services can a business combine to optimize risk management effectiveness?
A business can combine internal control assessment, internal audit, business valuation, process improvement, and training services to build a comprehensive governance system.
4. Why does a business need to establish an internal audit function?
A business needs to establish an internal audit function for the following reasons:
- Enhancing risk control effectiveness – Internal audit helps the business identify, assess, and mitigate risks in business, finance, and operations.
- Improving transparency and corporate governance – A strong internal audit system enhances transparency in financial reporting, operational processes, and regulatory compliance.
- Meeting legal compliance requirements – Many businesses, especially listed companies, financial institutions, or those with foreign investment, need internal audits to comply with legal regulations.
- Preventing fraud and asset loss – Internal audit enables early detection of irregularities, fraud, or asset misappropriation, allowing timely corrective actions.
- Optimizing processes and improving operational efficiency – By evaluating and recommending improvements, internal audit helps businesses operate more efficiently, reduce costs, and maximize resource use.
- Supporting management decision-making – Internal audit reports provide independent, objective information to help company leaders make more accurate strategic decisions.
- Increasing investor and stakeholder confidence – A strong internal audit system builds credibility, attracts investment, and strengthens trust from shareholders and partners.
Establishing an internal audit function not only helps protect assets and reduce risks but also enhances competitiveness and supports sustainable development.
5. What role does business valuation play in risk management?
Business valuation plays an important role in risk management for the following reasons:
- Determining the true value of the business – Helps the company understand the value of its assets, resources, and profitability, enabling informed financial and strategic decisions.
- Supporting M&A and capital raising – In mergers, acquisitions, or fundraising, valuation helps determine a fair price, avoiding the risks of under- or overvaluation.
- Managing financial risk – Valuation enables the company to identify inefficient investments, impaired assets, or factors that could affect future cash flows.
- Assessing the impact of market risks – Valuation often includes analysis of economic, industry, and market factors, helping the company anticipate fluctuations that may affect its value.
- Supporting corporate restructuring – During restructuring, valuation helps identify business units, assets, or investments that need optimization or divestment to reduce risks and improve efficiency.
- Ensuring legal and tax compliance – Certain legal regulations require transparent valuation reports for major financial transactions, such as share transfers, asset sales, or mergers.
- Enhancing investor and partner confidence – Having an objective assessment of the company’s value attracts investor and strategic partner interest and strengthens market credibility.
In summary, business valuation not only provides a clear picture of a company’s worth but is also a crucial tool for controlling risks, optimizing financial strategy, and protecting stakeholder interests.
6. How often should a business evaluate its internal control system?
The frequency of internal control evaluations depends on the company’s size, industry, and risk level. However, businesses should follow these general timelines:
- Annually – Most companies conduct at least one evaluation per year to ensure the internal control system remains effective and aligned with operational changes, legal regulations, and the business environment.
- Upon request from regulators or shareholders – Some companies, especially listed firms or financial institutions, must evaluate internal controls as required by government regulators or major shareholders.
- When major operational or organizational changes occur – If the company undergoes a merger, acquisition, process change, or adopts new technologies, it should reassess internal controls to ensure they adapt to the changes.
- When incidents or gaps are identified – If the company experiences fraud, financial errors, or compliance breaches, an immediate evaluation is needed to determine the cause and improve controls.
- As requested by internal or external auditors – Some companies may need more frequent evaluations based on recommendations from internal or external audit teams.
In summary, to ensure the internal control system operates effectively, companies should conduct evaluations at least once a year and add ad hoc reviews when major changes or risks arise.
7. When should a business improve its operational processes?
A business should improve its operational processes in the following situations:
- Low efficiency or resource waste – When current processes waste time, manpower, or resources without delivering optimal value.
- Rapid growth or scale expansion – As the business expands into new markets, increases its customer base, or scales operations, old processes may no longer be suitable and need upgrading.
- Changes in the business model – When the company shifts its business strategy, develops new products/services, or transforms its operating model, processes must be adjusted to meet new demands.
- Adoption of new technology – When implementing management software, ERP, AI, RPA, or other digital technologies, operational processes should be improved to fully leverage technological benefits.
- Failure to meet compliance and internal control requirements – When legal regulations change or internal audit requirements arise, the company must adjust processes to ensure compliance and minimize risk.
- Negative feedback from customers or partners – If customers complain about speed, service quality, or raise concerns related to internal processes, the business should review and improve to enhance customer experience.
- Frequent errors or operational risks – When current processes lead to errors, delays, or underperformance, improvements help optimize efficiency and reduce risks.
- Higher operating costs compared to competitors – When the business identifies that its operating costs exceed the industry average, it should consider process improvements to optimize expenses.
- Changes in organizational or management structure – When the company undergoes restructuring or changes in management models, operational processes need adjustment to align with the new structure.
- Desire to strengthen competitive advantage – Improving processes enables more agile operations, increases productivity, and enhances service quality, thus creating an edge over competitors.
Improving operational processes not only helps businesses operate more efficiently but also creates growth opportunities, enhances competitiveness, and ensures sustainable development.
8. What risks can arise if a business lacks effective internal controls?
If a business lacks an effective internal control system, it can face numerous serious risks, including:
- Fraud and asset loss risk – Weak internal controls can create loopholes for fraud, corruption, embezzlement, or other misconduct.
- Financial reporting errors risk – Financial data may be distorted due to accounting mistakes, data entry errors, or manipulation, leading to inaccurate financial reports and poor business decisions.
- Compliance risk – The business may violate legal regulations, accounting standards, tax rules, or industry requirements, resulting in penalties, reputational damage, or legal issues.
- Operational risk – Lack of controls can lead to inefficient processes, errors, delays, or breakdowns, affecting product or service quality.
- Technology and data security risk – Weak control systems increase the risk of data breaches, cyberattacks, or loss of critical information, harming operations and reputation.
- Financial risk – Poor control over cash flow, receivables, and expenses can cause financial imbalances, raising the risk of insolvency or default.
- Strategic risk – Without proper controls, the business may struggle to monitor, assess, and adjust strategies in a timely manner, leading to poor decisions or missed opportunities.
- Human resource management risk – Ineffective controls can result in hiring, appointing, or evaluating personnel incorrectly, causing internal conflict and lowering work performance.
- Reputation and brand risk – Serious incidents such as legal violations, fraud, or poor service quality can damage the company’s reputation, eroding trust from customers, partners, and investors.
- Partner and customer relationship risk – Weak internal controls can lead to unclear contracts, poor customer management, or disputes, negatively impacting business relationships.
An effective internal control system helps businesses identify, prevent, and mitigate these risks, ensuring sustainable operations and strengthening competitive capacity.
9. What is the role of technology in internal audit and risk management?
Technology plays a crucial role in internal audit and risk management, helping businesses improve efficiency, accuracy, and risk forecasting capabilities. Below are some key roles of technology in these two areas:
1. Automating and optimizing audit processes
- Reduce manual work by automating data collection, processing, and analysis.
- Save time and resources, allowing auditors to focus on deeper, value-added analysis.
2. Data analysis and early risk detection
- Apply artificial intelligence (AI) and big data analytics to identify trends, anomalies, and fraud risks.
- Enable auditors to make decisions based on data rather than relying solely on qualitative assessments.
3. Enhancing transparency and traceability
- Technology systems record and store all audit data, ensuring transparency and easy traceability when needed.
- Blockchain platforms can help protect the integrity of audit data and financial transactions.
4. Improving compliance monitoring and risk governance
- Technology helps track and update new regulatory requirements quickly, supporting better compliance.
- Integrated enterprise risk management (ERM) systems allow businesses to monitor, assess, and mitigate risks in real time.
5. Strengthening risk assessment and forecasting capabilities
- AI and machine learning risk analysis models can predict potential risks before they significantly impact the business.
- Help companies develop timely strategies to address emerging risks.
6. Supporting remote internal audits
- Use online collaboration tools and audit software to enable auditors to conduct remote audits effectively.
- Especially useful in distributed work environments or companies with multiple branches across different locations.
7. Enhancing reporting and decision-making effectiveness
- Technology helps aggregate and present audit data visually through dashboards and dynamic reports.
- Leadership can easily monitor key risk indicators and make timely, data-driven decisions.
Applying technology to internal audit and risk management not only helps businesses operate more efficiently but also creates a competitive advantage, ensures compliance, and supports sustainable growth in an increasingly complex business environment.
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 portfolio of clients who have used or are currently using our risk management and compliance services includes:
Contracts
Clients
FDI enterprises
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.
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 an official member of Crowe Global, a world-leading network in corporate governance advisory, internal audit, and risk management, with a strong presence in 150 countries and over 798 offices globally. We deliver services that consistently meet international standards.
Crowe Vietnam brings together a team of highly experienced professionals holding prestigious certifications such as ACCA, ICAEW, CPA Australia, and CIA (Certified Internal Auditor). We provide evaluation, development, and enhancement of governance and internal control systems in accordance with global best practices.
We offer end-to-end solutions from assessment and review to process improvement in governance and internal control. Our services strictly adhere to professional standards and focus on optimizing operational effectiveness and strengthening compliance capabilities for our clients.
Crowe Vietnam is fully committed to protecting client information through rigorous internal control systems and strict confidentiality protocols, ensuring absolute security of corporate governance and risk control data.
As a professional partner within the Crowe Global network, we provide governance, risk management, internal audit, and compliance solutions on a global scale, helping businesses adapt to and comply with complex legal frameworks across international markets.
We are committed to delivering international-standard corporate governance, internal audit, and risk management services at highly competitive rates, ensuring clients achieve optimal value with a balanced investment in quality and cost efficiency.
Senior Personnel
Our senior team members responsible for this service are seasoned consultants with deep professional expertise. They hold specialized certifications and qualifications from Vietnam and/or international bodies and bring a wealth of experience across various industries and sectors.
