Assurance

Our audit and assurance group provides assurance on the financial performance and operations of your business. We can also help your business improve its external financial reporting and adapt to new regulatory requirements, including Vietnamese Accounting System, Vietnamese Accounting Standards and International Financial Reporting Standards (IFRS). We can also help your organization report externally on non-financial information, and strengthen your corporate governance procedures.

Our services include:

• Audit of financial statements
• Review of financial information
• Agreed-upon procedures
• IFRS conversion
• Technical accounting advice

Audit of financial statements

The financial statements audit has never been more important. In today's business environment, there is more scrutiny and scepticism of a company's financial statements than ever before. Investors now expect greater reliability, more oversight and clear evidence of internal controls. Meeting investor expectations begins with the completeness and accuracy of information contained in a company’s financial statements. Our audit approach, which is at the leading edge of best practice and draws upon our extensive industry knowledge, is tailored to suit the size and nature of your organisation.

Review of financial information

We provide services in relation to a review of interim or annual financial statements. A review provides less assurance than an audit since the review procedures are limited primarily to inquiries of company personnel and analytical procedures applied to financial data. Depending on the purposes for which the financial information is being used, a review may be considered sufficient and, in particular, cost effective and less time-consuming than an audit.

Agreed-upon procedures

From time to time you may need a professional firm to perform certain procedures to satisfy your business needs or to assist you in your decision making process. We work with you to understand your issues/needs and we will tailor the specific procedures to be performed. At the end of an agreed-upon procedures engagement, we will provide you with a factual report detailing the exceptions identified.

IFRS conversion

PwC has a proven track record in helping companies successfully complete the transition to IFRS. Our conversion specialists bring technical, training, communications and change expertise to the project. And while a lot of the issues are common across all businesses, some impact more on certain sections so we’ll make sure our industry specialists are involved. We can help to:

• Identify potential GAAP differences between your existing VAS reporting framework to - US GAAP/IFRS
• Quantify the differences identified
• Advise on the form and presentation of the financial statements
  

Technical accounting advice

Given our practical experience and conversance with Vietnamese Accounting Standards (plus other local accounting regulations) and other accounting frameworks such as IFRS, we can advise you on how to account for complex transactions or contentious accounting issues which you may encounter in your day-to-day business. We also provide input to the accounting set-up for newly established companies or to review for compliance with local accounting regulations.

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