Financial statement audit services involve the process of assessing and verifying the accuracy and reliability of the financial reports of an organization or business. Financial statement auditing is carried out by professional auditors to provide an assessment of the truth, fairness, and compliance with the accounting standards of the financial reports.
With extensive expertise and years of experience in delivering professional consulting services in auditing, accounting, taxation, and advisory for international companies and organizations, we have earned strong trust and support from our clients. This has helped to establish and solidify Vinasc’s reputable and reliable position in Vietnam.
Our team of experts in financial statement auditing services is equipped with the skills and relevant professional experience to deliver maximum benefits for your esteemed company. We are committed to providing you with services that fully meet your requirements, objectives, and expectations.
The operating principles of Vinasc
We focus on the following three main principles in providing audit services:
Compliance with the law: We are committed to adhering to legal regulations and maintaining professional competence to comply with auditing standards and relevant regulations.
Professional ethics: Professional ethics are always highly regarded and prioritized. All of our staff members are regularly updated on professional ethical guidelines to ensure compliance and proper implementation of these principles.
Respecting the truth: We place special emphasis on the accuracy and truthfulness of audit evidence, as well as the reasonableness and completeness of information in financial reports. Our team of auditors maintains a professional skepticism to minimize the negative impact of counterfeit information, unintentional errors, and fraudulent behaviors.
The process of financial statement audit services
A financial statement audit at Vinasc follows the following process:
Meeting and contract negotiation
Auditors and clients meet to discuss the audit scope, requirements, timeline, and service fees. Subsequently, both parties come to an agreement and sign the audit contract.
Information gathering and preliminary examination
Auditors collect documents and information related to the client’s accounting system, financial reports, and internal processes. Simultaneously, we conduct a preliminary examination to assess the internal control system.
Audit Planning
Auditors analyze the gathered information and determine the audit scope. Based on risk assessment and audit requirements, we then create a detailed plan for the subsequent stages of the audit process.
Performing the Audit
Financial statement audit services involve conducting audit procedures such as examination, verification, and evaluation of the financial information of the client. This includes assessing the accuracy and compliance of the financial report with regulations.
Internal control risk assessment
Auditors assess the risks and effectiveness of the client’s internal control system, identify weaknesses, and propose improvements if necessary.
Preparing the Audit Report
Vinasc will summarize the audit findings and prepare the audit report. The audit report typically includes the auditor’s opinion on the accuracy, truth, fairness, and compliance with regulations of the financial report.
Meeting and discussing with the client
The auditor meets with the client to present the audit opinion, explain the significance of audit findings, and engage in discussions about important issues in the financial report.
Completion of the audit
After the audit report is approved, the auditor issues the official audit report and concludes the financial statement audit service.
Audit timeline
A typical and smooth audit process would take place over a period of approximately 3 to 5 weeks. The timeframe can extend depending on the exchange of information, provision of documents by the business, and the time taken for responses to audit confirmation letters from relevant parties.
Audit services fee
The fee for financial statement audit services depends on the scale and complexity of the client’s business operations.
The audit service fee will be paid 50% after signing the audit contract and the remaining 50% upon issuance of the official audit report.
Contact
Financial statement audit services help ensure transparency, reliability, and legal compliance of financial reports, contributing to building trust from stakeholders such as shareholders, investors, banks, and government regulatory bodies.
If your company is interested in learning about financial statement audit services, please contact Vinasc using the information below. We will gather the details and provide a detailed quotation for your consideration.