Helping you navigate regulatory complexity and strengthen transparency
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.
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.
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.
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.
Robert Trong Tran, Director of Cyber Security and Privacy Services at PwC Vietnam, discussed how organisations can protect themselves against security vulnerabilities in the Internet of Things (IoT). Read more on Vietnam Economic Times.
The WannaCry ransomware has infected more than 300,000 devices in over 150 countries worldwide. This massive attack has pointed to the need for all organisations to take a formal approach to counter similar possible attacks in the future. Read on Vietnam Investment Review to see what advice our Director of Cyber Security and Data Privacy Services – Robert Trong Tran gave to organisations.
"...for many listed companies in Vietnam, internal audit is still a new concept. And there are a lot of concerns over how to set up and run this business function in a cost-efficient manner, and in time to comply with the new law," Risk Assurance Director Xavier Potier wrote in a new article on Vietnam Investment Review. Read to find out more.
According to Robert Trong Tran, Director of Cyber Security Services at PwC Vietnam, while cyber defense is the main protection against hackers, cyber insurance is the main financial protection for enterprises, as it can enable them to swiftly recover operations after being compromised. Read more on Vietnam Economic Times.
As the banking industry moves towards Basel II and seeks foreign capital for growth, it is high time that Vietnamese banks adopted the risk-based method for internal auditing. Xavier Potier, director of Risk Assurance Services at PwC Vietnam, shared his thoughts on the issue with Vietnam Investment Review.
IFRS 15 will become effective for the annual period beginning on or after 1 January 2018. According to Assurance Partner Tran Hong Kien, while IFRS 15 is not compulsory for businesses in Vietnam, getting to know IFRS 15 will help local entities familiarise with additional areas being considered by the Vietnamese authorities in future guidance of revenue recognition in Vietnam.
The State Bank of Vietnam is drafting a special law to boost bank restructuring and settle bad debts, which would remove all the obstacles in the existing legal regulations. In a recent interview on Vietnam Investment Review, partner of Business Restructuring Services Dao Thi Thien Huong shared her thoughts on the restructuring of banks and settlement of bad debts in Vietnam, and provided ideas and recommendations to speed up this process.
Richard Peters
Partner, Assurance Services Leader, HCMC Office, PwC Vietnam
Tel: +84 28 3823 0796
Mai Viet Hung Tran
Partner, Assurance Services, HCMC Office, PwC Vietnam
Tel: +84 28 3823 0796
Tran Thi Thanh Truc
Partner, Assurance Services, HCMC Office, PwC Vietnam
Tel: +84 28 3946 2246, Ext. 1015
