Hanoi auditing services help businesses ensure financial transparency and legal compliance. Independent Auditing Law 2011 and regulations applicable during the 2026–2027 period. In the context of increased scrutiny of electronic invoice data by tax authorities, accurately audited financial statements help businesses mitigate tax risks and avoid administrative violations. Decree 41/2018/ND-CP, while also enhancing credibility with partners, banks, and regulatory agencies.
Utilizing reputable Hanoi auditing services is a strategic step that helps management identify management gaps early, review non-deductible expenses, and optimize tax obligations safely. This in-depth article from an auditing expert with 30 years of experience will comprehensively analyze the latest legal regulations such as Decree 90/2025/ND-CPStandard procedures, real-world tax risk hotspots, and comprehensive audit solutions for businesses operating in Hanoi and surrounding provinces.
The legal nature and mandatory subjects for using auditing services in Hanoi.
Which businesses are required to have their financial statements audited annually?
According to Article 15 of Decree 17/2012/ND-CP, amended and supplemented by Decree 90/2025/ND-CP detailing the implementation of some articles of the Law on Independent Auditing, the following types of businesses are required to register for auditing services in Hanoi to audit their annual financial statements:
- Foreign direct investment (FDI) enterprises Currently operating manufacturing and business activities in Vietnam.
- Credit institutions are established and operate in accordance with the Law on Credit Institutions, including branches of foreign banks in Vietnam.
- Financial institutions, insurance companies, reinsurance companies, insurance brokerage companies, and branches of foreign non-life insurance companies.
- Public companies, securities issuers, and securities trading organizations.
- State-owned enterprises, except for state-owned enterprises operating in fields related to state secrets as stipulated by law.
- Enterprises implementing nationally important projects and Group A projects using state capital.
- Large-scale businesses According to Decree 90/2025/ND-CP: Businesses that are not publicly listed companies but meet at least two of the following three criteria in the immediately preceding fiscal year (Having an average annual number of employees participating in social insurance of over 200; Having total annual revenue of over 300 billion VND; Having total assets at the end of the year of over 100 billion VND)
Decree 90/2025/ND-CP also clearly stipulates: If a large-scale enterprise fails to meet two out of three criteria mentioned above for two consecutive fiscal years, it will be exempt from mandatory auditing until it meets them again. In addition, the period during which a practicing auditor is permitted to sign an audit report for an entity has been extended to a maximum of five consecutive years (instead of three years as previously stipulated).
Besides mandatory audits, small and medium-sized enterprises (SMEs) in Hanoi, even those not yet large-scale, still seek Hanoi auditing services for purposes such as bidding on projects, increasing bank loan limits, or reviewing all accounting records before tax audits.
Legal risks and penalties for violating regulations on auditing financial statements.
The failure to conduct an audit. financial reports Submitting audit reports late will result in extremely serious financial and legal penalties. Below is a summary table of administrative penalties stipulated in Article 53 of Decree 41/2018/ND-CP in the field of accounting and independent auditing:
| Violation | Fine amount (VND) | Additional legal consequences |
| Submitting financial statements without an audit report (for those required to do so). | 40.000.000 – 50.000.000 | Assessed as high risk by the tax authorities and placed on the priority inspection list. |
| Submitting the audit report late compared to the stipulated deadline. | 10.000.000 – 30.000.000 | Impact on the company's reputation score in the tax administration system. |
| Failure to publicly disclose financial statements accompanied by audit reports as required by regulations. | 20.000.000 – 30.000.000 | Reduced creditworthiness when dealing with banks and investors. |
| Preparing financial statements that do not conform to audited figures. | 30.000.000 – 50.000.000 | Requires the preparation and submission of accurate financial statements. |
Understanding these regulations helps businesses proactively plan for the use of auditing services in Hanoi at the right time, avoiding unnecessary penalty costs.
Why is the demand for auditing services in Hanoi increasing sharply in the northern region?
The unique business environment and strict tax management in Hanoi.
Hanoi is a leading economic and political center with a continuously growing density of newly established businesses and FDI enterprises. This dynamic business environment demands a very high level of legal compliance. In particular, the Hanoi Tax Department is one of the leading units in applying information technology and artificial intelligence to analyze electronic invoice data, automatically reconcile revenue and expenses, and identify tax risks for businesses.
Given the strict controls and the expansion of mandatory audits for large-scale private enterprises under Decree 90/2025/ND-CP, businesses operating in Hanoi face a high risk of tax arrears and late payment penalties if errors appear in their accounting records. High-quality Hanoi auditing services provide business owners with an objective view, helping to detect discrepancies between accounting and tax records early, allowing for timely adjustments before regulatory authorities issue inspection decisions.
Comparison table of internal audit and external independent audit services.
Many businesses are torn between building their own internal audit department or hiring an external audit service provider in Hanoi. Below is a detailed comparison to help managers make the right decision:
| Comparison criteria | Internal audit | Independent auditing services in Hanoi |
| Objectivity | Relatively speaking, this is due to being under the direct management of the Board of Directors. | Absolutely objective, adhering to professional ethics and independence. |
| Legal liability | It has no legal validity with third parties (Tax Authority, Bank). | It has full legal validity before the law and all relevant parties. |
| Maintenance costs | High fixed costs (salaries, bonuses, benefits for the dedicated staff) | Costs are flexible depending on the scale and actual audit contract. |
| Qualifications & Experience | Limited to the company's internal industry. | Our team of experts has diverse experience from thousands of businesses. |
| Main objective | Assessing compliance with internal operating procedures. | Verify the reliability of financial statements & Tax risk management |
In comparison, outsourcing auditing services in Hanoi ensures both the highest level of legal compliance and significant cost savings for businesses in terms of operating expenses and personnel.
The 6-step process for providing audit services in Hanoi according to international standards.
A reputable Hanoi auditing service must strictly adhere to the Vietnamese Auditing Standards (VSA). The professional workflow is implemented through the following six transparent steps:
- Step 1: Gather information and conduct an on-site survey of the business: Auditors gather general information about the company's operating model, business sector, accounting processes, and internal control systems. The goal is to identify key risk areas to optimize working time.
- Step 2: Develop a detailed audit plan and sign the contract: Based on the survey results, the Hanoi-based auditing service provider develops a specific audit plan, assigns experienced auditors, and finalizes a detailed work schedule with the business to avoid disrupting daily production and business operations.
- Step 3: Perform control tests and baseline tests: The team of auditors works directly at the business to examine documents, reconcile detailed ledgers with summary ledgers, conduct inventory checks of fixed assets, and send confirmation letters for accounts receivable, accounts payable, and bank deposits.
- Step 4: Review tax risks and discuss directly with the Management Team: Auditors conduct in-depth analysis of expenses at risk of being disallowed during corporate income tax settlement, reviewing risky input invoices and related-party transactions. The results of the review will be discussed directly with the chief accountant and the Board of Directors to find appropriate adjustments.
- Step 5: Issue the draft audit report and management letter: The Hanoi auditing service unit sends the draft audit report along with a Management Letter to the enterprise. The Management Letter will clearly state the weaknesses in the internal control system, potential tax risks, and specific recommendations for remediation from the expert.
- Step 6: Issue the official audit report: After both parties agree on the adjusted figures, the auditing firm finalizes and issues the official audit report, signed by the Certified Public Accountant (CPA) and bearing the audit firm's seal, ensuring full legal validity as required by regulations.
See more articles at: Top 10 Reputable and Professional Auditing Service Companies in Ho Chi Minh City
In-depth insights from an expert with 30 years of experience on corporate tax risks.
Common errors in financial statements and tax return filings.
In practice, many businesses in Vietnam are making fundamental mistakes that lead to serious tax recovery consequences. According to MAN – Master Accountant Network, a company with over 30 years of experience in the industry, the most common mistakes include:
- Expenses without non-cash payment documentation: Invoices exceeding 20 million VND (including VAT) paid in cash or via bank transfer to personal accounts not registered with the tax authorities will be entirely disqualified from deductible expenses when calculating corporate income tax according to Law 38/2019/QH14 on Tax Administration.
- Incorrect provision for bad debts: Registration for provisions for doubtful receivables, inventory devaluation, or financial investments with incomplete supporting documentation is required according to Circular 48/2019/TT-BTC.
- Invoices from businesses that have absconded or temporarily ceased operations: Businesses often fail to proactively review the operational status of their suppliers, leading to the declaration of input invoices from businesses on the high-risk tax list.
- Failure to correctly define the criteria for large-scale enterprises: Businesses that do not proactively review their labor and social insurance data, revenue, and total assets according to Decree 90/2025/ND-CP may miss mandatory audit obligations and be subject to administrative penalties.
- Salary and payroll expenses are unrealistic: Payroll records may lack employment contracts, financial regulations may not clearly specify bonus terms, or there may be no actual payment documentation.
Experts at MAN, with 30 years of experience, note that tax authorities now extract data automatically very quickly. If businesses do not have a prior review through Hanoi auditing services, the risk of being penalized during an inspection is extremely high.
Cost-effective risk management solutions and related party transactions.
Related-party transactions, as defined in Decree 132/2020/ND-CP, are currently a "hot topic" for inspections of FDI enterprises and private corporations in Hanoi. Many businesses have had their taxes assessed for failing to prepare documentation to determine transfer pricing (Master File, Local File, CbCR) or for failing to demonstrate the business nature of transactions with related parties.
The solution from MAN – Master Accountant Network helps businesses standardize all related-party transaction records, accurately review market price margins, and build strong justifications. Integrating the review of related-party transactions into the auditing services in Hanoi helps businesses proactively protect their legitimate rights before the tax authorities.
See more articles at: Reputable auditing firms: Top 15 leading firms and solutions from MAN
Comprehensive audit service solutions in Hanoi from MAN – Master Accountant Network
Professional competence and legal responsibility from MAN
MAN – Master Accountant Network is a leading brand in auditing, accounting, and tax consulting in Vietnam. MAN's core differentiator lies in its team of experts with over 30 years of experience and a deep understanding of the practical realities of tax risk management in Vietnam.
When choosing MAN's Hanoi audit services, clients can rest assured because:
- Our team of auditors holds CPA Vietnam professional certifications and international certifications such as ACCA and CPA Australia.
- 100% is committed to protecting the financial information and business data of its customers.
- The auditor bears ultimate legal responsibility for the opinions expressed in the audit report.
- We support businesses in explaining their financial data directly to the tax authorities during inspections and audits.
Latest price list for auditing services in Hanoi.
To help businesses easily plan their budgets, MAN would like to provide the following reference fee schedule for Hanoi audit services. Actual fees will be flexibly adjusted based on revenue, total assets, the number of documents generated, and the specific industry characteristics of each business.
| Annual revenue size (VND) | Estimated total assets (VND) | Reference audit service fees in Hanoi (VND) | Estimated completion time |
| Under 10 billion | Under 10 billion | 15,000,000 – 25,000,000 | 3-5 days |
| From 10 billion to 50 billion | From 10 billion to 30 billion | 25,000,000 – 45,000,000 | 5-7 days |
| From 50 billion to 150 billion | From 30 billion to 100 billion | 45.000.000 – 75.000.000 | 7-10 days |
| From 150 billion to 300 billion | From 100 billion to 200 billion | 75.000.000 – 110.000.000 | 10-14 days |
| Over 300 billion | Over 200 billion | Survey & Get a Quote Separately | Agreement on progress |
Note: The price list below is for reference only. Please contact MAN directly for detailed pricing and the latest offers.
Service coverage includes districts in Hanoi and key provinces and cities.
MAN's Hanoi audit services cover all 30 districts, towns, and communes in the capital city, with a strong focus on bustling economic centers such as:
- Central districts: Cau Giay, Nam Tu Liem, Bac Tu Liem, Thanh Xuan, Dong Da, Ba Dinh, Hoan Kiem, Hai Ba Trung.
- Key industrial zones: Thang Long Industrial Zone (Dong Anh), Quang Minh Industrial Zone (Me Linh), Sai Dong B Industrial Zone (Long Bien), Hoa Lac High-Tech Industrial Zone.
Furthermore, with its extensive network, MAN's auditing services extend beyond Hanoi to northern provinces such as Bac Ninh, Hai Duong, Hai Phong, Hung Yen, and Vinh Phuc, and are expanding nationwide to key economic regions in the South, including District 1, District 7, Thu Duc City (Ho Chi Minh City), Binh Duong, Dong Nai, and Ba Ria - Vung Tau.
Real-world case study: Optimizing tax risks for FDI enterprises in Hanoi.
Customer scenario: Company M (a South Korean-owned FDI enterprise, registered under number 100%, located in Bac Thang Long Industrial Park, Hanoi) operates in the field of electronic component manufacturing. Prior to the tax settlement period, the company recorded technical support and technology licensing expenses from its parent company abroad worth over 15 billion VND. However, the internal accounting department had not prepared the related-party transaction documentation and lacked supporting documents to prove the actual services provided.
Solutions from MAN – Master Accountant Network:
The team of experts from MAN was directly involved in the Hanoi audit service for Company M. During the review process, MAN's experts with 30 years of experience:
- Instruct businesses to fully supplement work acceptance reports and technical performance evaluation reports on a monthly basis.
- Prepare supplementary Transfer Pricing Documents (Local File) in accordance with the regulations in Decree 132/2020/ND-CP, applying the exact comparative profit method.
- Adjust the accounting method for management allocation expenses from the parent company to comply with Vietnamese tax regulations.
Result: When the Hanoi City Tax Department conducted a routine tax audit, the entire 15 billion VND expense of Company M was accepted as a legitimate and reasonable expense. The company was not subject to back taxes on corporate income tax and avoided an estimated penalty of over 3.6 billion VND.
Conclude
Hanoi auditing services offer the safest and most effective solution to help businesses standardize their financial systems, detect tax risks early, and enhance their reputation in the market. Proactively auditing financial statements before tax settlement periods not only helps businesses strictly comply with the law but also protects their finances from unfortunate penalties and tax arrears.
Other 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
- Financial statement audit services
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
- E-mail: man@man.net.vn
- Google Business Profile: View MAN – Master Accountant Network's Google Business Profile
- LinkedIn Founder: View expert Le Hoang Tuyen's LinkedIn profile.
Responsible for production and professional content review by: Mr. Le Hoang Tuyen – Founder & CEO of MAN – Master Accountant Network, CPA Vietnam with over 30 years of experience in accounting, auditing, taxation, and corporate financial consulting.
Frequently Asked Questions about Hanoi Auditing Services (FAQ)
What is the deadline for submitting the audit report on financial statements?
According to the provisions of the Accounting Law 2015 and the Tax Administration Law 38/2019/QH14, the deadline for submitting audited financial statements is no later than 90 days from the end of the fiscal year (usually March 31st of each year for fiscal years that coincide with the calendar year).
How do large-scale businesses calculate labor, revenue, and asset indicators according to Decree 90/2025/ND-CP?
According to Decree 90/2025/ND-CP, the average annual social insurance contribution rate is calculated by dividing the total number of employees participating in social insurance for the 12 months of the preceding year by 12. Revenue and total assets are based directly on the financial statements of the preceding year.
Is it absolutely necessary for newly established businesses to hire auditing services in Hanoi?
Newly established businesses, if they fall into the mandatory category (such as FDI businesses), must hire financial statement auditing services even if they have not yet generated revenue. For typical Vietnamese businesses, hiring auditors is voluntary, unless they reach the threshold for large-scale enterprises as stipulated in Decree 90/2025/ND-CP or are required by banks or partners.
Can an audit report replace a tax inspection report?
An independent audit report is not a substitute for a tax authority inspection report. The audit report reflects the independent audit firm's opinion on the fairness and accuracy of the financial statements. However, a high-quality audit report from a reputable firm like MAN will provide a reliable basis for the tax authority to assess the company's risk level, reducing the frequency of direct inspections.
What factors determine the price of auditing services in Hanoi?
The cost of auditing services in Hanoi is calculated based on: total assets, total revenue, number of invoices and supporting documents generated, number of branches/subsidiaries, the complexity of the business sector, and the specific requirements of the enterprise regarding completion timelines.
Are auditing firms in Hanoi liable if a business is penalized for tax violations?
If errors arise from the auditor's omission or providing an audit opinion that deviates from the actual accounting documents provided, the auditing firm shall be liable for damages in accordance with the terms of the contract. At MAN – Master Accountant Network, we are committed to the highest level of legal responsibility and will always be there to explain and support businesses.
