Businesses whose financial statements are subject to audit are the entities governed by Article 37. Law on Independent Auditing No. 67/2011/QH12 and guiding circulars. In 2026, as financial transparency standards are raised, auditing will not only be about compliance with the law but also a "passport" for businesses to access international capital markets. Data from regulatory agencies shows that tightening post-auditing makes audit reports more important than ever for tax authorities and banks.
Accurately determining whether a company is subject to financial statement audits helps protect its reputation and optimize risk management. Decree 41/2018/ND-CPViolations can result in severe penalties and placement on a high-risk alert list within the tax system. This article will provide a detailed analysis of the target groups, deadlines, and important considerations for businesses to fulfill their audit obligations for the 2026 fiscal year.
Legal basis for determining whether a business must have its financial statements audited.
To ensure accuracy, businesses need to have a thorough understanding of the legal regulations in effect in 2026.
Current legal and regulatory system
The process of identifying a business must audit of financial statements Currently, based on:
- Independent Auditing Law 2011: The original document specifies the auditing procedures and mandatory subjects.
- Decree No. 17/2012/ND-CP: Detailed regulations on the scope of audits for entities with public interest.
- Enterprise Law 2020: Amendments to the definition of state-owned enterprises and the responsibilities of their representatives.
- Decree 41/2018/ND-CP: Sanctions in the accounting and auditing fields are being enforced effectively.
The role of audited financial statements in 2026
2026 marks a significant shift in financial reporting standards as VFRS moves closer to IFRS. For businesses required to have their financial statements audited, the auditor's opinion serves as a guarantee of the accuracy of revenue, expenses, and profits. This is particularly important when businesses are involved in M&A transactions or filing for large value-added tax refunds.
List of 6 groups of businesses required to have their financial statements audited in 2026.
Based on current regulations, the following is a detailed list of entities that are required to have their financial statements audited for the year 2026 (ending December 31, 2026).
Group 1: Foreign Direct Investment (FDI) Enterprises
All FDI enterprises, regardless of capital size or business type, are subject to auditing. financial reports annually. This is a mandatory regulation under Decree 17/2012/ND-CP aimed at controlling cross-border capital flows and ensuring transparency in corporate income tax obligations.
Even FDI enterprises enjoying tax incentives or with accumulated losses are still required to undergo auditing. This report is an indispensable component of the 2026 tax settlement dossier and serves as the basis for enterprises to legally repatriate profits in accordance with current regulations.
Group 2: Credit institutions and insurance companies
Due to the nature of holding public assets, the following entities are always required to have their financial statements audited:
- Joint-stock commercial banks, foreign-owned banks (100%).
- Finance companies, microfinance institutions, and leasing companies.
- The company engages in the business of life insurance, non-life insurance, and reinsurance.
Audit reports at these entities not only focus on profitability but also delve into capital adequacy ratios and liquidity under the close supervision of the State Bank of Vietnam.
Group 3: Public companies and listed securities organizations
Based on the Securities Law, public companies and listed organizations are subject to mandatory financial statement audits. This regulation aims to protect the rights of minority shareholders and ensure fairness and transparency in the securities market in 2026.
In addition to the 2026 audit, listed companies on HOSE and HNX must also conduct a review of their semi-annual financial statements. This work must be carried out by auditing firms approved by the State Securities Commission and included in the periodically published list.
Group 4: State-owned enterprises holding 50% of charter capital.
State-owned enterprises and companies with state capital contributions exceeding 50% (according to the 2020 Enterprise Law) belong to the group of enterprises required to have their financial statements audited. The main objective is to control the preservation of state capital and compliance in public investment activities.
State-owned corporations and enterprises are often subject to additional scrutiny by the State Audit Office. Hiring an independent auditing firm for annual financial statements is a mandatory requirement to complete the reporting dossiers submitted to the governing body and the Ministry of Finance.
Group 5: Enterprises implementing nationally important projects and Group A projects.
Legal entities managing or implementing national key projects and Group A projects using state budget funds, which are enterprises, must have their financial statements audited for the investment portion. This is a necessary legal step to ensure transparency in investment costs.
The final audit report on completed investment capital is a mandatory condition for the competent authorities to approve the final settlement. Only after receiving the report can the enterprise close the project account and hand over the assets for use in accordance with the Law on Public Investment.
Group 6: Fund management companies and securities investment funds
This group includes fund management companies, open-ended funds, closed-ended funds, and member funds. Auditing financial statements helps accurately determine the net asset value (NAV) per fund unit, ensuring fairness when investors make buy or sell orders.
Summary of audit subjects and regulations 2026
In 2026, auditing and financial reporting requirements will vary depending on the business group and industry sector. Identifying the correct legal entities helps businesses understand the types of reports required, mandatory audit obligations, and important considerations for compliance. The summary table below systematizes the groups of entities and their corresponding auditing regulations, assisting businesses in proactively planning, preparing complete documentation, and mitigating legal risks during information disclosure.
| Target group | The legal document that governs it. | Type of performance report | Important note |
| FDI enterprises | Decree 17/2012/ND-CP | Financial statements for 2026 | Tax returns must be submitted along with the tax return. |
| Public company | Securities Law 2019 | Annual Financial Statements & Six-Month Review | An approved contractor must be hired. |
| Credit institutions | Law on Credit Institutions | Annual Financial Statements & Safety Report | Comply with the standards of the State Bank of Vietnam. |
| State-owned enterprises (>50% capital) | Enterprise Law 2020 | Financial statements for 2026 | Maintain tight control over funds and debt. |
| Insurance Company | Insurance Business Law | Annual financial statements | Audit of technical reserves |
| Group A / National Project | Law on Public Investment | Project capital settlement | Conditions for approving capital settlement |
Deadline for submitting audit reports for the 2026 accounting period.
The deadline for submitting reports for businesses required to have their 2026 financial statements audited is calculated from the end of the accounting period (usually December 31, 2026).
For state-owned enterprises and FDI
The deadline for submitting audited financial statements for 2026 is no later than 90 days after the end of the accounting period. The deadline is usually on [date]. 31/03/2027Businesses need to proactively work with auditing firms early on to avoid an overload of paperwork at the end of the first quarter.
The report must be submitted simultaneously to the directly managing Tax authority, the Statistics authority, and the investment licensing authority. The absence of any receiving point for the report could lead to problems with post-audit inspections later on.
For listed companies and public organizations
The time pressure on listed companies whose financial statements need to be audited is immense. Beyond the 90-day deadline, companies must disclose information within 24 hours of receiving the audit report and submit it to the State Securities Commission in accordance with current regulations.
Sanctions and legal risks in 2026
In 2026, authorities will increase the use of technology to automatically review businesses that have not submitted audit reports through an interconnected electronic data system between the Tax Authority and the Department of Planning and Investment.
Current administrative penalty rates
According to Decree 41/2018/ND-CP, businesses are required to have their financial statements audited, but violations will result in administrative penalties.
- From 10 to 20 million VND: If financial statements are submitted to the competent authority without the required audit report.
- From 40 to 50 million VND: If the financial statements are not audited at all as required by law.
Tax and credit risks
Beyond just fines, the lack of audit reports puts businesses at high risk of being classified by the Tax authorities, making them more susceptible to retroactive corporate income tax collection. Furthermore, banks may downgrade credit ratings, directly impacting loan limits and reputation with foreign partners.
Standard procedure for preparing for the audit of financial statements in 2026.
Businesses that are required to have their financial statements audited should begin preparations as early as the fourth quarter of 2026 to ensure the progress of the work and the quality of the data and records.
Internal accounting
The accountant needs to finalize inventory, cash, and accounts payable figures as of December 31, 2026. Simultaneously, they should prepare legal documents, meeting minutes, and review related-party transactions to prepare documentation for determining transaction prices in accordance with current tax management regulations.
Choose a professional auditing firm.
Businesses should sign an audit contract early so that auditors can witness a physical inventory count by the end of 2026. This helps avoid an audit opinion being disqualified due to a lack of inventory evidence, a common error that undermines the credibility of reports.
Conclude
Businesses required to have their 2026 financial statements audited face stringent requirements regarding transparency and financial reporting standards. Complying with audit regulations not only helps avoid heavy penalties but also builds a professional image in the eyes of partners. A "clean" financial statement with a full unqualified opinion from the auditor is a solid foundation for sustainable growth and long-term financial success.
If you are looking for the optimal solution to fulfill your corporate obligation to audit your 2026 financial statements, contact MAN – Master Accountant Network immediately. With a network of leading auditing experts and in-depth knowledge of Vietnamese law, MAN is committed to providing financial statement auditing services Quality and speed. We support you from bookkeeping review to explaining data to regulatory authorities. Don't let accounting errors affect your growth – let MAN be your partner in financial transparency.
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 Businesses Requiring Financial Statement Audits in 2026
Do newly established FDI companies in 2026 need to undergo auditing?
Yes. By law, FDI enterprises that begin operations from the date of licensing are subject to annual financial statement audits, even if they have not yet generated revenue.
Can I choose any auditing firm I like?
Only companies meeting the eligibility criteria for operating under the Ministry of Finance's list may be selected. Listed companies, in particular, must choose entities approved by the State Securities Commission to ensure legal compliance.
Will I be penalized if I submit my audit report one day late?
Yes. The electronic reporting system records the submission time precisely down to the second. Even a delay of just one day can result in an administrative violation report as stipulated in Decree 41.
