Today, on-demand audit services are no longer just a simple data review procedure, but have become a strategic tool to help business owners control operational risks. Unlike mandatory audits required by law, these services are different from those mandated by law. Independent Audit No. 67/2011/QH12This type of service is designed to be personalized to meet specific objectives such as M&A due diligence, internal audits, or serving requirements from international financial institutions.
In the context of a volatile economy, using on-demand audit services helps FDI enterprises and multinational corporations in Vietnam maintain absolute transparency before tax audits. According to statistics from the General Department of Taxation, more than 751 businesses that undergo periodic review audits are better able to explain related-party transactions and significantly reduce the risk of tax arrears compared to entities that only undergo mandatory audits.
What are on-demand audit services? Common classifications
Agreed-Upon Procedures (AUP) are activities that examine and verify the accuracy and fairness of financial information based on procedures agreed upon in advance between the auditor and the client. While not legally mandated, this assurance service is extremely important in complex economic transactions.
In Vietnam, entities providing this service must strictly adhere to the Vietnamese Auditing Standards (VSA) and guiding circulars issued by the Ministry of Finance. This classification of services helps businesses easily choose a solution package that suits their specific circumstances.
Auditing financial statements for special purposes.
This type focuses on a part of financial reports or specific accounts as required by the bank when the business takes out large loans. The on-demand auditing service here helps to objectively verify the company's ability to repay and the status of collateral.
Internal audit and risk management
This acts as a "barrier" protecting businesses from fraud and systemic errors. Instead of waiting until the end of the year, on-demand internal control audits conduct quarterly or monthly reviews to detect early loopholes in spending and procurement processes.
Due Diligence Auditing in M&A
Before proceeding with a merger or acquisition, the acquiring party typically hires an on-demand audit service to review all implied liabilities, legal status, and the true value of assets. This ensures the transaction is fair and avoids future legal disputes.
Auditing the final accounts of investment capital for projects.
This is especially important for infrastructure construction projects or projects using budget funds. Auditors will check the validity of invoices, documents, and the actual construction volume against the initially approved budget.
Why do businesses need to hire on-demand audit services?
Utilizing on-demand auditing services delivers added value that far outweighs the costs. For businesses in the expansion phase, this is the fastest way to gain the trust of strategic investors and venture capital funds. Below is a comparison table of the benefits between mandatory audits and on-demand audit services to give you a clearer picture:
| Criteria | Mandatory audit | Auditing services on request |
| Legal basis | Independent Auditing Law 2011 | Agreement between the parties |
| Scope | Complete annual financial report | Customize to specific goals. |
| Time | End of accounting period | Whenever needed |
| Core values | Compliance | Risk management and optimization (Value-add) |
| The recipient of the report | Government agencies, shareholders | Treatment team, investors, banks |
Ensure compliance with the law and avoid penalties.
Although "on demand," findings from on-demand audit services often help businesses improve their documentation to meet the requirements of the 2015 Tax Law and Accounting Law. For example, reviewing related-party transactions according to Decree 132/2020/ND-CP This will help businesses avoid heavy penalties for transfer pricing.
Detecting errors and preventing financial fraud.
Even the most skilled in-house accountants can make mistakes or get caught up in repetitive workflows. On-demand audit services provide an independent perspective, highlighting weaknesses in expense approvals or inventory management that business owners might otherwise overlook.
Enhancing credibility with strategic partners.
When a business possesses audit reports from reputable entities within the MAN – Master Accountant Network, its profile becomes significantly more credible in the eyes of international contractors and partners.
The following entities should utilize on-demand audit services.
It's not just large businesses that need on-demand auditing services. In fact, small and medium-sized enterprises (SMEs) preparing for significant growth also require this specialized support to streamline their financial systems.
- FDI enterprises: The data needs to be reviewed before reporting to the parent company abroad or preparing for tax settlement.
- Startup businesses: Currently conducting Series A and B funding rounds, clean financial data is required for valuation.
- Construction companies: It is necessary to finalize the accounts for completed construction items according to the schedule in order to disburse funds.
- Non-governmental organizations (NGOs): There is a need for transparency in the use of funding for community projects.
- Individual investors: The goal is to examine the actual use of capital by the business owner.
Utilizing on-demand audit services in these cases is not just an expense, but an investment in insurance for the assets of the parties involved.
Legal regulations governing on-demand audit services.
The operations of companies providing on-demand auditing services must strictly comply with the Vietnamese legal system. This ensures that audit reports are legally valid and accepted by all parties.
Specifically, important legal documents include:
- Law on Independent Auditing No. 67/2011/QH12: Regulations on the professional practice conditions of auditors and auditing firms.
- Circular 214/2012/TT-BTC: The Vietnamese Auditing Standards (VSA) System of 37 Standards.
- VSA Standard 4400: Specific guidance on services performing pre-agreed procedures on financial information (This is the core foundation of on-demand audit services).
- Accounting Law 2015: Regulations on documents and records that audited entities must provide.
All conclusions in a commissioned audit report must be based on tangible, compelling, and clearly traceable audit evidence.
Top reputable companies providing on-demand audit services in Ho Chi Minh City.
Ho Chi Minh City is the most vibrant economic center in the country, home to numerous professional auditing firms. Choosing an on-demand auditing service here requires careful consideration of reputation and understanding of the local market. Below is a list of firms highly rated by the business community:
MAN – Master Accountant Network
MAN is not just a service provider, but a network of high-level financial experts. MAN's on-demand audit services stand out for their ability to advise on practical solutions for FDI businesses and startups. With experience working in multinational environments, MAN is committed to delivering accurate reports, helping businesses optimize tax costs and achieve absolute financial transparency.
The companies belonging to the Big4 group (PwC, Deloitte, EY, KPMG)
If your business is a large corporation listed on an international stock exchange, the Big4 firms are the top choice. Their on-demand auditing services are global in scope; however, the fees are usually very high and the work process is rigorous, suitable for multi-million dollar M&A deals.
Vietaustralia Auditing
As one of the reputable firms in Ho Chi Minh City, Viet Uc provides specialized on-demand audit services focusing on internal control and financial statement review. Their team of CPAs possesses in-depth knowledge of Vietnamese accounting regulations, supporting SMEs in quickly streamlining their financial systems.
TAF Audit
TAF is renowned for its comprehensive audit services and project investment capital settlement audits. Their on-demand audit services help investors closely control construction costs, ensuring the validity of each invoice and document in accordance with current regulations.
AASC and A&C Audit
These are some of the first domestic auditing firms with extensive experience working with state-owned corporations and ODA-funded projects. If you need on-demand auditing services for public projects or large investment projects in the South, these are names you can't overlook.
Latest price list for on-demand audit services.
The cost of on-demand audit services is usually not fixed but flexible, based on the scale and complexity of the work. However, to help businesses easily estimate their budget, MAN – Master Accountant Network provides a reference price range based on the general market:
| Type of service | Business size | Estimated fee (VNĐ) | Execution time |
| Audit review of financial statements | Revenue < 50 billion | 15.000.000 – 25.000.000 | 5-7 business days |
| In-depth internal audit | Corporation / Group | 50.000.000 – 150.000.000 | 15-30 business days |
| M&A Audit (Due Diligence) | According to the transaction value | 0.5% – 1% transaction value | Depending on the scale |
| Project settlement audit | Provincial/City-level projects | According to regulations of the Ministry of Finance | According to the project schedule |
| Audits on special request | Customize | Agree | In reality |
Note: The above price list is for reference only. To receive an accurate quote for customized audit services, please contact a MAN expert directly for a preliminary survey.
The process for deploying on-demand audit services at MAN.
At MAN – Master Accountant Network, we apply a 7-step audit process that meets international standards, helping businesses save time and optimize their results.
Step 1: Risk assessment and evaluation
Our experts will communicate directly to understand the client's objectives when hiring our on-demand audit services. We conduct a preliminary survey of the accounting system to assess the workload.
Step 2: Planning and Contract Signing
Define the scope of the audit, the personnel involved, and key timelines. A commissioned audit service contract will clearly state the agreed-upon procedures to ensure transparency.
Step 3: Gather data and evidence
The accounting department provides the necessary documentation. Our team can work in person at the client's office or conduct remote audits through secure digital platforms.
Step 4: Perform detailed inspection procedures.
Utilize techniques such as reconciliation, recalculation, confirmation letters (for accounts receivable/payable), and on-site warehouse inspections to perform the requested audit services.
Step 5: Discuss preliminary results
Before releasing the report, we will hold a meeting with the management team to explain the findings and listen to feedback from the company.
Step 6: Release the report and Management Letter
The audit report will clearly present the procedures performed and the results obtained. The accompanying management letter will provide recommendations for system improvement.
Step 7: Post-audit support
MAN is committed to working alongside businesses in implementing recommendations and providing explanations to stakeholders (if any).
Important considerations when choosing an auditing firm.
Choosing the wrong auditing firm can lead to unrecognized reports or even leaks of critical data. Business owners should consider the following criteria:
- Operating license: The entity must be on the list of qualified auditing firms published annually by the Ministry of Finance.
- Personnel: Preference will be given to companies with auditors holding CPA Vietnam, ACCA, or CPA Australia certifications.
- Industry experience: Each industry (Manufacturing, Real Estate, E-commerce) has its own specific accounting characteristics. Choose a firm that has experience providing customized audit services in your industry.
- Confidentiality commitment: This is a crucial element. The auditing firm must include clauses in the contract guaranteeing absolute confidentiality of financial information.
Conclude
On-demand auditing services are key to unlocking transparency and sustainability in the digital age. Proactively reviewing data not only helps you avoid legal troubles but also creates a huge competitive advantage when working with international investors and financial institutions. Don't view auditing as a cost burden; see it as a solid foundation for all future development strategies.
If you are looking for a reputable, professional, and dedicated on-demand audit service provider, contact MAN – Master Accountant Network today. We don't just provide numbers; we offer peace of mind and in-depth accounting and tax consulting solutions to help businesses optimize cash flow and protect asset value sustainably. Let MAN's experts accompany you on your journey to conquer new business heights!
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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.
FAQ – Frequently Asked Questions about on-demand audit services
How does on-demand auditing differ from a financial statement review?
A review typically has a narrower scope, primarily based on analysis and information exchange. In contrast, on-demand audit services allow clients to specify detailed testing procedures (such as inventory counts, debt confirmations) to achieve more precise results for specific objectives.
Are the results of a requested audit legally valid when dealing with tax authorities?
Yes. Although the tax authorities have their own inspection procedures, a report from a reputable audit service will be strong evidence to help businesses explain their economic transactions, thereby minimizing the risk of being taxed.
What preparations does a business need to make before auditors arrive?
Businesses need to prepare detailed ledgers, original documents, accounts receivable reconciliation statements, and especially the cooperation of accounting personnel to explain any questions that may arise during the audit process.
How long does a requested audit typically take?
Depending on the scope of work, a quick review might take 3-5 days, while a full internal audit for the corporation could take several weeks. MAN is always committed to meeting the deadlines agreed upon in the contract.
Why do the fees for on-demand audit services vary among different firms?
Service fees reflect the level of risk, the time invested by experts, and the brand value of the auditing firm. At MAN, we optimize our processes to offer the most competitive fees while ensuring the highest quality standards.
