This industry is an easy place to grab money from unexperienced Clients. Most of companies, at least at first, are always looking for the cheapest service available believing in some kind of magic. This is where trouble starts. Most of the unregistered accountants in Vietnam run a worry-free activity which is called being “your accountant” but in the facts, the job only consist in handing over the required-by-law declaration(s) and report to the Government but rarely caring about what is inside those.
We call this non-value-added accounting, and you do not need an accountant for that job! That accountant, sometimes a private person, will perform as if everything was “great” until the first tax inspection comes. At that moment, companies must pay the price for penalties, fines and malpractice, our approach of accounting at PCA Company Services is quite different and combines accounting, taxation, legal and audit altogether. Read our article about the usual Vietnamese accountant experience!