An audit firm is an organization specialized in providing auditing services to businesses and organizations. The role of an auditor is to assess and examine the validity, reliability, and compliance of financial and managerial information within an organization. An audit company operates independently and adheres to the ethical principles and regulations of the auditing profession to ensure the accuracy and independence of the auditing process.
Independent auditing activities in Vietnam
Independent auditing activities began to develop in Vietnam from 1991. Over the past 30 years, this industry has witnessed growth, with around 200 independent audit companies currently operating across the country.
Vietnam’s auditing services company are continuing to develop both in terms of service quality and customer base. This demonstrates the role of the auditing industry in meeting the increasing demands of businesses and legal regulations.
During its development, the auditing industry is also undergoing rapid cultural and ethical growth. Ethical standards and social responsibilities are being valued more than ever, with a focus on clients, fairness, and transparency. Audit companies are setting high objectives to ensure that auditing is carried out with utmost reliability and quality. They contribute to building trust and sustainable development for the Vietnamese economy.
Expanding the scope of auditing
In addition to traditional financial auditing, many auditors have expanded the scope of their work. This includes internal auditing, environmental and social auditing, project auditing, smart contract auditing, and auditing emerging technologies such as blockchain, risk auditing, information security auditing, and quality management auditing. This requires auditors to have extensive domain knowledge and a deep understanding of various industries.
Audit firm in a new environment
The development of technology and artificial intelligence is significantly impacting the auditing industry. Technologies such as artificial intelligence, machine learning, and process automation can alter how audits are conducted. Intelligent tools and software can enhance data analysis capabilities, identify risks, and detect errors.
Furthermore, big data is becoming increasingly popular and essential in the business environment. Auditors can utilize big data analytics to identify trends, recognize risks, and optimize the auditing process.
Regulations and rules regarding auditing are continuously changing to adapt to a more diverse and complex business environment. Auditors will need to grasp and adhere to these changes, ensuring compliance and transparency in the auditing process.
Introducing Vinasc audit firm
Vinasc is an independent audit firm, offering core services including auditing, taxation, and consulting. Our objective is to assist clients in identifying and proactively mitigating risks, fostering confidence in their business operations in Vietnam.
We generate value through our highly skilled, dedicated, and customer-centric team of experts. Our strength lies in multilingual consultancy coupled with experience in working with clients in various countries across the world.
Vinasc maintains a long-term vision, acts responsibly for the benefit of the community, and preserves a legacy for future generations.
Vinasc boasts a professional and experienced team that meets quality standards and regulations in the fields of auditing and consulting. The company provides services to organizations and businesses nationwide, contributing to the development and transparency of the financial system in Vietnam.
Vinasc's operating motto
Vinasc focuses on three main principles: legal compliance, professional ethics, and respect for truth.
- Legal Compliance: We maintain a professional level to adhere to auditing standards and relevant legal regulations according to the standards of an audit service company.
- Professional Ethics: Prioritized by our leadership, all staff members exchange and regularly update professional ethics regulations.
Respect for Truth: Vinasc highly values the true and reasonableness of data and information in financial reports. Our team of auditors emphasizes professional skepticism to minimize the negative impact of fraudulent information, unintentional errors, and intentional fraud.
Overview of Vinasc Audit Services Company's process
- Client acceptance procedures
- Initial audit planning
- Identification of audit strategy
- Understanding and evaluating internal control activities
- Familiarizing with the client’s business environment
- Assessing initial risks
- Designing additional audit procedures
- Performing audit procedures, including test of control and test of detail
- Summarizing issues, discussions, and advising appropriate solutions for the client
Issuing the audit report and management letter.
Contact
If your business is interested in learning more about Vinasc Audit Services Company, please contact us using the information provided below. We will explore and send a detailed quotation for your convenience in consideration.