Any companies with foreign capital even the slightest amount must be audited once yearly by a Certified Public Accountant (CPA). ePCA Consulting can take care of this process for you:
If your accounts are with us, ePCA Consulting will confirm you the audit fee by the CPA after the yearly company accounting and financial statements are made (end of March/April of each year). It is usually around 10.000.000VND when there is no or low activity during the year.
Audit is a straightforward process only if the accounting has been made knowingly, so please let your accountant know that your accounts will have to be officially audited to avoid huge corrections and modifications at the end of the year.
All companies in Vietnam must be audited after the first quarter of each calendar year for the year before.
If you company has been incorporated for 3 months or less during a year, that year must not be audited but will be audited together with the following year. Your accountant will have to file for that postponement, it is not automatic and your company will be fined if this is not respected.
The fine is 20.000.000VND to 50.000.000VND (as at May 2020) per year unaudited + interest.
According to Điều 15 Nghị định 17/2012/NĐ-CP:
Here are the list of companies that must be audited:
+ Public companies
+ Banks and credit institutions
+ Insurance business companies
+ Auditing trading companies
+ Securities trading companies
+ Companies with which securities business companies hold 20% of their charter capital
+ State-owned companies
+ Companies where State corporations hold 20% of charter capital
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