Core Service

Statutory audit support in Vietnam for foreign companies

Year-end financial statement preparation under VAS, audit liaison, IFRS reconciliation, and management of the audit process for licensed auditors.

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Overview

Most FDI companies are required to have an annual statutory audit by a licensed Vietnamese audit firm. Our statutory audit support service covers the year-end preparation, the audit liaison, and the IFRS reconciliation. We work with the auditor of your choice (typically a Big-4 or top-tier firm) and ensure the process runs smoothly.

Who needs this service

  • FDI companies required to be audited by Vietnamese law
  • Joint-stock companies and 2+ member LLCs
  • Foreign-owned companies preparing for an audit
  • Companies switching auditors and needing a clean baseline

Legal requirements

Audit requirement

Joint-stock companies, 2+ member LLCs, and FDI companies must be audited annually by a licensed Vietnamese audit firm.

Audit firm selection

The audit firm must be licensed by the Ministry of Finance. The shareholders appoint the auditor.

Audit report submission

The audit report is submitted to the tax authority and the licensing authority (DPI) as required.

Pricing

Indicative fees

ItemFee
Year-end preparation (FDI entity)from USD 2,500
Audit liaison and managementfrom USD 2,000
IFRS reconciliation (per period)from USD 1,500

Fees are indicative and depend on transaction volume, complexity, and reporting requirements. Request a tailored proposal.

Timeline

Typical engagement timeline

Phase 1 · December

Pre-audit planning

Audit plan, sample selection, walkthroughs, interim procedures.

Phase 2 · January

Year-end close

Year-end close, working paper preparation, draft financial statements.

Phase 3 · February–March

Audit fieldwork

Auditor field work, issue resolution, management letter.

Phase 4 · March 31

Sign-off

Final audit report, financial statements, CIT finalisation.

Watch out

Common mistakes we help you avoid

  • 01Choosing an audit firm without checking the licence and the audit-team credentials
  • 02Not preparing reconciliations in advance, leading to extended fieldwork
  • 03Missing the 31 March deadline for the audit report and CIT finalisation
  • 04Treating the auditor as the preparer (the company is responsible for the financial statements)
Why us

What you get

Smooth process

We manage the audit from planning to sign-off. Working papers are ready, reconciliations are prepared, and the auditor is briefed.

IFRS-ready

We prepare the IFRS reconciliation in parallel with the VAS financials, ready for your group consolidation.

Cost control

Pre-prepared working papers reduce the auditor's hours and the audit fee.

FAQ

Frequently asked questions

Is a statutory audit mandatory in Vietnam?
A statutory audit is required for joint-stock companies, limited liability companies with 2+ members, FDI companies, and entities in certain regulated sectors. The audit is performed by an independent audit firm licensed in Vietnam.
How is the auditor selected?
The shareholders appoint the auditor. For FDI companies, the head office typically proposes a Big-4 or top-tier firm, and the local entity's board ratifies. The appointment is for one year and renewable.
What is the audit timeline?
A statutory audit typically runs February to March 31 (for calendar-year companies). Fieldwork is 2–6 weeks depending on the size of the entity and the number of locations. The management letter and audit report are issued in March.
What is an unqualified audit opinion?
An unqualified opinion means the auditor concludes that the financial statements give a true and fair view. Qualified, adverse, and disclaimer opinions indicate issues that the user of the financial statements should be aware of.
Get Started

Ready to discuss statutory audit support?

Free 30-minute consultation. We'll review your situation and outline a fixed-fee engagement.

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