Services
IFRS
Standards – Transparency – Accuracy – Efficiency
Our services
Are you seeking professional advice on the roadmap for adopting International Financial Reporting Standards (IFRS) for your business? Are you looking to convert your financial statements to IFRS, enhance your accounting systems for stability and compliance, or train your personnel on IFRS? Regardless of your specific needs from initial preparation to implementation and consolidated reporting Crowe Vietnam offers tailored solutions.
Explore our comprehensive IFRS service packages below to begin your effective and professional transition journey.
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. Is my business required to adopt IFRS?
Currently, the adoption of IFRS is not mandatory for all businesses in Vietnam. However, the Ministry of Finance is gradually implementing a roadmap to apply IFRS for specific entities. Proactively transitioning to IFRS will help businesses prepare for future legal requirements and facilitate smoother international cooperation.
2. How can IFRS advisory services help businesses comply with regulatory requirements?
IFRS (International Financial Reporting Standards) advisory services can help businesses effectively manage compliance with regulatory requirements, particularly as Vietnam integrates more deeply with international accounting standards. Specifically:
1. Compliance with Domestic Regulations
- Vietnam is on a roadmap toward IFRS adoption, requiring certain enterprises especially listed companies, foreign direct investment (FDI) enterprises, and financial institutions to transition from VAS (Vietnamese Accounting Standards) to IFRS.
- Advisory services help businesses proactively prepare to ensure compliance with the new regulations from the Ministry of Finance and the State Securities Commission.
2. Support in Transitioning from VAS to IFRS
- Analyzing gaps between VAS and IFRS to identify necessary changes.
- Providing guidance on adjustments to financial statements and accounting policies to align with IFRS.
- Training accounting staff on the procedures for preparing financial statements in accordance with IFRS.
3. Mitigation of Legal and Financial Risks
- Ensuring transparency in financial reporting to avoid violations related to information disclosure requirements.
- Minimizing issues related to audit and tax compliance when IFRS becomes mandatory.
- Better meeting regulatory requirements to reduce the risk of penalties.
4. Attracting Investors and Enhancing Corporate Reputation
- Applying IFRS helps financial statements become more transparent and reliable, aligning with international standards.
- Foreign investors often require IFRS-based financial statements for easier assessment of a company’s financial position.
5. Supporting Businesses in International Market Expansion
- Businesses can more easily engage with foreign partners, list on international stock exchanges, or attract funding from global investment funds.
- Helping businesses meet financial reporting requirements when expanding operations abroad.
IFRS advisory services help businesses not only comply with regulatory requirements but also enhance their financial capabilities and strengthen their market position.
3. What does Crowe Vietnam's International Accounting (IFRS) service include?
We provide services such as developing an IFRS adoption roadmap, supporting financial statement conversion, advising on IFRS-compliant accounting systems, personnel training, and assisting in the consolidation of financial statements according to parent company requirements.
4. Can small businesses adopt IFRS?
Absolutely. Depending on their goals and development orientation, many small and medium-sized enterprises still choose to adopt IFRS to enhance transparency, gain an advantage in fundraising, or expand international cooperation.
5. After converting to IFRS, what does a business need to maintain?
Businesses need to ensure that their accounting systems, software, accounting policies, and personnel are consistently updated in line with changes in IFRS to maintain long-term compliance and operational efficiency.
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.
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.
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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 member of Crowe Global, one of the top 10 largest audit and advisory networks in the world, with over 798 offices across 150 countries. This enables us to deliver internationally standardized IFRS conversion and implementation services tailored to the specific characteristics of each business, thereby enhancing credibility and global competitiveness.
With a team of experienced professionals who are well-trained in IFRS and hold international certifications, Crowe Vietnam is committed to supporting businesses in accurately and transparently converting their accounting systems and financial reporting in full compliance with legal requirements, meeting the needs of listed companies, FDI enterprises, and joint ventures.
We offer a comprehensive advisory process, from assessment and planning to implementation, personnel training, and ongoing support in resolving IFRS-related issues. This ensures that businesses operate efficiently and standardize their financial reporting in accordance with international standards.
Crowe Vietnam strictly adheres to regulations on client confidentiality, ensuring that all financial data and IFRS transition strategies are fully safeguarded throughout the advisory and implementation process.
Leveraging the global network of Crowe Global, we are equipped to support businesses across all industries and sizes, connecting with IFRS experts worldwide to stay updated on the latest standards. At the same time, we ensure flexible adaptation to multinational business environments and international capital markets.
Crowe Vietnam is committed to providing IFRS advisory services at a reasonable cost, delivering high value and optimal efficiency for businesses. We help clients prepare thoroughly and confidently for sustainable integration into the international financial landscape.
Senior Personnel
