15 Feb Notice on financial statement audit for FDI companies
Notice on financial statement audit
According to the Dispatch No. 17/2012/NĐ-CP dated 13/3/2012 of the Ministry of Finance, the companies below must have their annual financial statements audited:
- Foreign-invested companies;
- The credit institutions established and operated within the Law on credit institutions, including branches of foreign banks;
- Financial institutions, insurers, reinsurers, insurance brokers, branches of foreign non-life insurers;
- Public companies, the organizations that issue and trade in securities;
- Other companies and organizations that must be audited according to relevant laws; the companies and organizations that must be audited by foreign auditors or their branches in Vietnam.
How to effectively save audit cost of annual financial statement report.
- Identify audit objectives, workload and choosing suitable auditor in advance.
- Get audit schedule and contract signed within the last quarter of the fiscal year to avoid busy season
- Effectively file and manage documents and business records in a clear and accurate manner (Business Record Management)
- Having professional accounting system as well as skilled staffs to provide information and explanations when needed.
It is highly recommended to find a prestigious audit party and sign audit contract from October 2016 to efficiently control the workload and avoid the busy season ( January to March) as well as to ensure service quality and get the best service price.
Read more :
Internal Audit Plan 2016