MAN's comprehensive auditing services today go beyond simply checking accounting figures; they have become a strategic management tool that helps businesses build trust with investors. In the context of integration, ensuring the integrity of accounting records is crucial. Financial reports Financial statements prepared according to VAS/VFRS standards are a mandatory requirement. FDI enterprises and public companies.
According to the Ministry of Finance, the number of post-audits is increasing sharply, making the need for a professional, comprehensive audit service from MAN urgent. Proper execution is essential. Law on Independent Auditing No. 67/2011/QH12 This helps businesses avoid legal risks and optimize their financial structure, paving the way for fundraising, IPOs, or mergers and acquisitions.
Understanding MAN's comprehensive audit services in the digital age.
In the digital age, MAN's comprehensive audit services go beyond simply verifying financial statements; they also support businesses in risk management and improving governance efficiency. This scope includes: audit of financial statementsIn addition to tax reviews, internal control consulting, and mid-year audits, these services help businesses gain a comprehensive understanding of their financial health, promptly detect errors, and fully comply with mandatory auditing regulations.
Concept and scope of work
MAN's comprehensive audit service is a series of professional activities performed by a team of independent auditors to verify the accuracy of financial information. This service package typically includes: annual financial statement audit, tax review, internal control consulting, and interim report review.
Implementing a comprehensive audit service at MAN provides businesses with a holistic view of their financial health. Auditors not only verify figures but also analyze material errors, making recommendations for improving the accounting system and helping businesses operate more professionally.
Who is required to use auditing services?
According to Article 37 of the Independent Auditing Law 2011 and Decree 17/2012/ND-CP, The following entities are required to submit financial statements. Audited annually:
| Business type | Applicable legal provisions | Frequency of execution |
| Foreign direct investment (FDI) enterprises | Clause 1, Article 37 of the Law on Independent Auditing | Annual |
| Credit institutions, financial institutions | Law on Credit Institutions | Annual |
| Insurance and reinsurance companies | Insurance Business Law | Annual |
| Public company, listed organization | Securities Law | Annually & Mid-year |
| State-owned enterprises | Decree 17/2012/ND-CP | Annual |
Failure to comply with auditing regulations can result in administrative fines ranging from VND 40,000,000 to VND 50,000,000 according to Decree 41/2018/ND-CP, and also seriously affect the company's reputation in the market.
Why do businesses need comprehensive audit services from MAN instead of fragmented audits?
Businesses are increasingly prioritizing comprehensive audit services at MAN over fragmented audits to optimize costs, save resources, and control risks more effectively. With a single point of expertise throughout the entire process... audit of financial statements When it comes to tax audits, data consistency is ensured, minimizing errors and unnecessary back taxes. This is a suitable solution for businesses that want to improve their financial reliability and focus on their core business activities.
Optimizing costs and human resources.
Utilizing MAN's comprehensive audit services allows businesses to significantly reduce costs incurred from hiring multiple separate entities. Instead of working with multiple teams of experts, businesses only need a single point of contact to handle everything from financial statement audits to tax settlements.
The audit team's in-depth understanding of the accounting system, gained through ongoing work, helps shorten review time. This is crucial for startups or SMEs that often have limited human resources and insufficient experience to handle complex audit requirements.
Ensuring consistency in financial data.
When using MAN's comprehensive audit services, the figures between financial statements and tax returns are always rigorously compared. Discrepancies between accounting and tax data often lead to significant late payment penalties or back taxes.
MAN's expert full-service auditors will assist in making timely adjusting entries before submitting reports to the government. This enhances the credibility of financial information for partners, banks, and stakeholders.
Detailed contents of a professional audit service package.
A comprehensive professional audit service package at MAN is designed to cover financial statement audits, tax reviews, and internal control system assessments. Beyond verifying the accuracy of data, the service helps businesses proactively prevent tax risks, identify operational weaknesses, and enhance business value, especially in fundraising, M&A, or dealings with banks and partners.
Financial statement audit
This is a key pillar of MAN's comprehensive audit services. The process includes examining assets, liabilities, equity, revenue, and expenses. Auditors employ methods such as confirmation letters, physical inventory, and trend analysis to confirm existence.
The ultimate goal is to issue an audit opinion (Unqualified Acceptance, Qualified Acceptance, etc.). For businesses preparing for M&A, the audit report from MAN's comprehensive audit service is the most important legal evidence for accurately determining the value of the business.
Tax Audit & Review
In MAN's comprehensive audit service package, tax review acts as a "shield" protecting businesses from audit risks. Experts will check the validity of invoices, the appropriateness of deductible expenses when calculating corporate income tax, and VAT refund procedures.
According to Circular 80/2021/TT-BTCTax management is becoming increasingly stringent thanks to information technology. Therefore, using MAN's comprehensive audit services to review taxes before an inspection is a smart move to minimize the risk of having legitimate expenses disallowed.
Review the internal control system.
A valuable component of MAN's comprehensive audit services is the assessment of internal controls. Auditors analyze approval processes, task allocation, and risk management to identify gaps that could lead to fraud or undue loss of assets.
Risk assessment table for MAN's comprehensive audit services:
| Evaluation criteria | Low risk | Medium risk | High risk |
| Approval process | Complete signatures, proper authority | Lack of written procedures | Oral approval, abuse of power |
| Cash fund management | Periodic inventory and reconciliation of subsidiary records. | Infrequent inventory | No reconciliation of subsidiary ledgers. |
| Warehouse management | Barcode encoding, complete inventory tags. | Handwritten inventory cards, minor discrepancies. | Large losses, no inventory |
The standard procedure for implementing comprehensive audit services at MAN.
MAN's comprehensive audit service implementation process is built on current auditing standards, comprising three phases from planning and on-site execution to report issuance. This systematic approach helps control the risk of material misstatement, ensuring the timeliness, transparency of data, and legal validity of the audit report for regulatory authorities, shareholders, and relevant partners.
Preparation and planning phase
Upon signing a comprehensive audit service contract with MAN, the audit firm will form a working group to understand the client's industry specifics. Determining materiality is a crucial step in focusing on areas with a high risk of errors.
Businesses need to provide documents such as: Business license, company charter, list of fixed assets, and major economic contracts. Thorough preparation from the client helps ensure that MAN's comprehensive audit service is carried out quickly, efficiently, and on schedule.
On-site audit execution phase
The team of experts providing comprehensive audit services at MAN will work directly at the company's office to examine original documents. Probability sampling techniques are applied to ensure representativeness of all transactions occurring during the period.
The core content includes reconciling bank balances, confirming accounts payable, and verifying the timeliness of revenue. The result of this phase in MAN's comprehensive audit service is a list of findings and necessary accounting adjustments (Audit Adjustments).
Report compilation and publication phase
After discussing the adjusting entries, the auditing firm will issue a draft report. Clients using MAN's full-service audit have the right to explain or provide additional evidence for any issues raised by the auditor in the management letter.
The official audit report will be issued after mutual agreement between both parties. This report serves the purpose of submission to government agencies, presentation to the General Meeting of Shareholders, or submission to banks to maintain credit limits and financial reputation.
Important considerations when choosing a full-service audit provider at MAN.
Choosing the right full-service audit provider at MAN plays a crucial role in ensuring legal validity and effective governance for businesses. Besides cost, businesses need to pay special attention to the professional licenses, reputation of the auditors, and their level of industry expertise. A suitable audit firm will not only issue reports that meet standards but also provide practical advice and support to enhance the capabilities of the internal accounting department.
The auditing firm's operating license and reputation.
Only qualified organizations are eligible to receive full-service audits at MAN. Businesses should check the list of licensed firms published annually by the Ministry of Finance. Firms like the Big4 are suitable for large corporations, while MAN is optimized for SMEs.
When choosing a comprehensive audit service at MAN, the reputation of the practicing auditor is a crucial factor. An audit report signed by a reputable expert will carry significant weight when dealing with tax authorities or international financial institutions.
Industry expertise and personnel
Each industry (Construction, Manufacturing, Startup) has its own specific accounting characteristics. MAN's comprehensive audit service provider, with experience in your field, will offer insightful advice to help address complex issues such as product costing.
Furthermore, the supportive attitude of the staff is also a criterion for evaluating the quality of comprehensive audit services at MAN. Timely interaction and in-depth answers help improve the skills of your company's on-site accounting team.
The core value of MAN's comprehensive audit services lies in sustainable development.
The core value of MAN's comprehensive audit services lies not only in legal compliance but also in laying the foundation for sustainable growth. Through financial transparency and standardized accounting systems, businesses build trust with investors, shareholders, and partners, while enhancing governance capabilities and preparing for expansion plans, fundraising, and international integration.
Building a strong foundation of trust.
Financial transparency through MAN's comprehensive auditing services is the "passport" for businesses to expand internationally. Investment funds always require independently audited financial statements before conducting funding rounds (Series A, B, C).
This transparency protects shareholder interests and helps management demonstrate competence. MAN's comprehensive audit services eliminate suspicions of fraud, thereby enhancing brand value and competitiveness in the stock market.
Strengthening the professional accounting system.
Working with auditors in MAN's comprehensive audit package provides on-the-job training opportunities for accounting staff. Through expert feedback, internal accountants will stay updated on the latest changes in tax policies and accounting standards.
Expert support from MAN's comprehensive audit services helps businesses standardize their professional document archiving processes. This creates a clean, easily accessible data system that supports internal management by the Board of Directors.
The risks of businesses conducting audits in-house without a comprehensive audit service from MAN.
Lack of oversight from a full-service audit provider like MAN can expose businesses to significant risks. Errors in expense classification or incorrect tax rate application often only become apparent during on-site inspections by the tax authorities.
At this point, the fines could be many times higher than the cost of hiring a full-service audit at MAN. Furthermore, serious discrepancies in financial statements erode shareholder confidence, leading to instability in governance structure and a decline in corporate reputation.
List of common mistakes that occur when there is no audit:
- Accounting for personal expenses as part of a business transaction is against regulations.
- Insufficient provisions were made for bad debts.
- Recording revenue at an incorrect time.
- Errors in calculating depreciation of fixed assets.
Pricing for comprehensive audit services at MAN
MAN's comprehensive audit service fees are structured with transparency and optimized benefits for clients. We categorize quotes based on revenue size and industry specifics, making it easy for businesses to choose the right package.
Below is a price list for our basic service packages:
| Business Size | Annual revenue (estimated) | Service fee (VNĐ/year) | Include |
| SME Package 1 | Under 20 billion | From 15,000,000 | Financial statement audit + Basic tax consulting |
| SME Package 2 | 20 billion - 100 billion | From 25,000,000 | Auditing of financial statements + Review of internal systems |
| FDI package | Depending on the scale of capital | From 35,000,000 | Audit according to VAS/IFRS + Consolidated reports |
| Enterprise Package | Over 100 billion | Contact us for a quote. | Comprehensive audit + In-depth tax risk review |
Note: Actual fees may vary based on document volume and number of branches. Please contact MAN for a detailed quote and the most optimal implementation plan.
Conclude
MAN's comprehensive audit services are key to protecting your business's achievements and unlocking new opportunities. In today's volatile financial world, data backed by a reputable firm is invaluable. Don't let accounting errors hinder your success.
At MAN – Master Accountant Network, we provide financial statement auditing services with a team of experienced professionals. MAN not only checks data but also advises on tax optimization and risk management. With our in-depth understanding of Vietnamese law, MAN is committed to helping businesses ensure transparency of information to all partners.
Other services
- Financial statement audit services
- Internal audit services
- Internal Control System Assessment Service
- Auditing services on request
- Professional tax audit services
- Construction auditing services
- Completed project settlement audit service
Service contact information at MAN – Master Accountant Network
- Address: No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City
- Mobile/Zalo: 0903 963 163 – 0903 428 622
- Email: man@man.net.vn
Content production by: Mr. Le Hoang Tuyen – Founder & CEO MAN – Master Accountant Network, Vietnamese CPA Auditor with over 30 years of experience in Accounting, Auditing and Financial Consulting.
Frequently Asked Questions about MAN's Full-Service Auditing Package
How are the full-service audit fees calculated at MAN?
The cost of a full-service audit at MAN depends on the size of the assets, revenue, and complexity of the internal systems. Typically, firms will conduct a preliminary survey before providing a formal quote to ensure fairness.
How long does a full-service audit typically take?
For SMEs, the process of conducting a full-service audit at MAN typically takes 1 to 3 weeks on-site. This timeframe may vary depending on the availability and transparency of documentation at the company.
Should newly established businesses (startups) hire a full-service audit from MAN?
Although not yet mandatory, startups should use comprehensive auditing services from MAN to build a solid financial foundation. This is highly beneficial when needing to demonstrate financial data to secure funding from foreign venture capital funds.
How long is an audit report valid?
An audit report confirms a specific accounting period. However, the bank loan value of the report is usually accepted for 6 months to 1 year from the date of issuance, depending on the regulations of each bank.
