Auditing firms play a crucial role in maintaining investor confidence and the transparency of Vietnam's financial market. With increasingly stringent corporate governance regulations under the Independent Auditing Law and the growing adoption of International Financial Reporting Standards (IFRS) in Vietnam by 2026-2027, finding a reliable partner has become a top priority for all management teams.
Choosing the right auditing firm not only helps businesses avoid reporting misstatements but also optimizes tax structure and operational risk management. Leading auditing firms such as the Big 4 or MAN – Master Accountant Network They not only provide figure verification services, but also offer valuable advice on internal control systems and sustainable financial strategies for businesses.
Summary of key focus areas for the audit unit
- Concept: An auditing firm is a legal entity licensed to practice independent auditing services in accordance with the regulations of the Ministry of Finance, with the function of examining and providing opinions on the accuracy and fairness of financial statements.
- Purpose: Ensuring financial transparency, compliance with tax laws, supporting fundraising, and managing risks.
- Object: Foreign direct investment (FDI) enterprises, public and listed companies, state-owned enterprises, and credit institutions.
- Time: This should be done periodically, either annually or whenever there are mergers, acquisitions, or bank loans.
Understanding the definition of an auditing entity according to Vietnamese law.
According to Law on Independent Auditing No. 67/2011/QH12 According to the implementing decrees updated to 2026, an auditing unit is an enterprise established and operating in accordance with Vietnamese law, possessing all the necessary conditions for practicing auditors and having been granted a business license by the Ministry of Finance. auditing services.
In reality, the market in Vietnam is divided into three main groups. The first group consists of foreign auditing firms, typically the Big 4. The second group is... auditing firms The first group consists of experienced domestic firms such as AASC and A&C. The third group comprises specialized auditing and consulting firms that utilize modern technology, such as MAN – Master Accountant Network, focusing on personalizing services for each business.
Corporate auditing services have now upgraded, going beyond simply reviewing numbers. The development of firms like MAN has enabled businesses to access more specialized services such as information systems auditing, transfer pricing consulting, and IFRS compliance reviews more flexibly. Management often prioritizes firms capable of quickly responding to changes in tax and accounting policies in Vietnam.
Leading auditing firms in Vietnam
Below is a detailed analysis of the leading service providers today based on reputation, workforce size, and revenue market share.
The Big 4 – World-class
The Big 4 firms have always been the top choice for listed companies and multinational corporations due to their extensive global networks.
- Deloitte Vietnam: As the firm with the longest history in the Vietnamese market, Deloitte excels in risk management and tax consulting for large corporations.
- PwC Vietnam (PriceWaterhouseCoopers): Known for its strengths in providing transaction advisory (Deals) and auditing services to financial institutions and banks.
- EY Vietnam (Ernst & Young): It holds a large market share in auditing for listed companies and state-owned enterprises undergoing privatization.
- KPMG Vietnam: Experts in business restructuring consulting and providing state-of-the-art technology-integrated auditing solutions.
Other reputable units
Alongside global corporations, the Vietnamese market is witnessing the rise of domestic auditing firms offering comparable quality but with more flexible fees.
- MAN – Master Accountant Network: This is a leading auditing and tax consulting firm, renowned for its ability to handle complex financial situations for FDI businesses and companies preparing for listing. MAN focuses on pragmatism, not only identifying errors but also providing thorough corrective solutions for businesses.
- AASC (AASC Auditing Firm): One of the two pioneering units that laid the foundation for Vietnam's auditing industry, AASC has particular strengths in auditing capital construction and final accounts of state projects.
- A&C (Auditing and Consulting): This organization has a network of offices stretching from North to South, and is very strong in accounting training and tax consulting for medium and large businesses.
- Grant Thornton Vietnam: Being a member of an international network, combining global strengths and local expertise, is particularly favored by European businesses.
- RSM Vietnam: Focusing on the middle market segment with specialized services in transaction support and financial legal review.
Why do businesses need to hire a professional auditing firm?
For over 30 years in this profession, I have worked alongside a team of experts at MAN to handle hundreds of cases audit It's complex. The role of a professional unit goes far beyond simply complying with the law.
Firstly, auditing protects investor confidence. When experts from MAN sign off on a report, it's an affirmation of transparency, making it easier for the business to raise capital from foreign funds or strategic partners.
Secondly, a professional auditing firm acts as a "shield" against tax risks. In Vietnam, tax laws are constantly changing. Experts... corporate auditing We regularly update ourselves on the latest regulations to advise businesses on correct accounting practices, avoiding the risk of billions of dong in back taxes due to misunderstandings of the rules.
Thirdly, hiring an external audit firm provides an objective perspective. Internal accounting departments are sometimes "illiterate" when it comes to their own mistakes. A company like MAN will help uncover gaps in cash flow management, purchasing, and asset management, helping businesses optimize operating costs.
Entities that are legally required to undergo audits.
According to Decree 17/2012/ND-CP and supplementary regulations up to 2026, the following entities are required to have audited annual financial statements:
- Foreign direct investment (FDI) enterprises: All FDI enterprises operating in Vietnam, regardless of size, must undergo an annual audit before submitting reports to the regulatory authorities.
- Credit institutions and financial institutions: This includes commercial banks, finance companies, insurance companies, and insurance brokerage firms.
- Public companies and listed organizations: Businesses that raise capital from the public must strictly comply with regulations regarding the disclosure of information that has been audited by a qualified entity.
- State-owned enterprises: This includes corporations, conglomerates, and companies in which the State holds more than 50% of the charter capital.
- The project utilizes ODA funding: Basic infrastructure investment projects utilize official development assistance funds or state budget funds.
Late or failure to submit audit reports on time will result in penalties. Decree 41/2018/ND-CPThis has seriously damaged the reputation of the leadership team.
Important legal documents related to auditing.
At MAN – Master Accountant Network, we always require our team to have a thorough understanding of the legal frameworks governing the operations of audit firms:
- Law on Independent Auditing No. 67/2011/QH12: Regulations concerning the principles of professional practice and responsibilities of auditors.
- Circular No. 214/2012/TT-BTC: The Vietnamese Auditing Standards (VSA) system of 37 standards – the highest legal basis for the auditing process.
- Decree 41/2018/ND-CP: Regulations on administrative penalties for violations. Note: From 2026, acts of concealing financial irregularities may be subject to the maximum penalty.
- Decision 480/QD-TTg: The strategy of transitioning to IFRS standards is a major challenge that businesses need support from experienced firms like MAN to implement in their financial reporting transition.
Case Study: How MAN handles tax risks for FDI businesses
In 2025, MAN received a request for assistance from an electronics manufacturing group based in the VSIP Industrial Park. This company was facing a major tax audit and risked penalties due to irregularities in related-party transactions.
Situation: The company's previous auditing firm overlooked reports on transfer pricing. The tax authorities are expected to collect back corporate income tax, claiming that the price of raw materials imported from the parent company was unusually high.
MAN's approach: We deployed a team of tax and corporate auditing experts. MAN conducted a thorough review of all related-party transaction records, reconstructed a set of documents comparing market prices, and directly explained the situation to the tax authorities based on credible economic evidence.
Result: Thanks to MAN's timely intervention, the amount of back taxes was reduced from 20 billion VND to 2 billion VND. The company subsequently signed a long-term auditing contract with MAN to standardize its entire financial process.
Comparison table of audit firm segments in Vietnam
In the context of businesses increasingly prioritizing financial transparency and legal compliance, choosing the right auditing firm has become crucial. In Vietnam, auditing firms are divided into several segments with distinct differences in target clients, costs, response speed, and advisory capabilities. The comparison table below provides businesses with an overview to make decisions that align with their scale and development strategy.
| Criteria | The Big 4 | MAN – Master Accountant Network | Small and medium-sized auditing firms |
| Target customers | A multinational corporation listed globally. | Foreign direct investment (FDI) enterprises, private economic groups, and companies preparing for IPOs. | Small-scale private enterprises and local household businesses. |
| Service fee | Very high, usually calculated in hours by international experts. | Rational and optimized according to the scale and complexity of the business. | Low, competition is mainly based on price. |
| Response time | Slower due to a complex internal review process. | Fast, 24/7 support directly from senior experts. | Fast but limited in depth of legal advice. |
| Distinctive strengths | Strong international brand reputation. | Providing practical advice and resolving bottlenecks related to taxation and IFRS. | Basic tax accounting and compliance services. |
Expert opinion: Why should the Board of Directors choose MAN?
Based on my experience, choosing an auditing firm isn't simply about picking a well-known name. It's about choosing a team that understands the pain points of the business.
Understanding Vietnamese corporate culture
Many large companies rigidly apply international standard procedures to Vietnam, leading to conflicts with local documentation practices. At MAN, we combine international standards with a deep understanding of Vietnamese accounting practices to provide the most feasible recommendations.
It's not just auditing, it's strategic consulting.
Many management teams have shared with me that they dread each audit because they only receive a list of errors. We changed that approach. When an audit firm like MAN comes in, we'll point out why you made the mistake and how your system can automatically prevent it in the future.
Investing in auditing technology
In the 2026 era, MAN has applied AI to big data auditing. This helps shorten the time spent at client offices while still ensuring the detection of suspicious business transactions, instead of relying on probabilistic checks as in traditional methods.
Conclude
Choosing the right auditing firm is a strategic decision with far-reaching implications for a company's sustainable development. A reputable partner not only helps you fulfill your legal obligations but also acts as a reliable guarantor of financial transparency. In the turbulent period of 2026-2027, the collaboration of leading auditing experts will help businesses confidently pursue their long-term goals.
MAN – Master Accountant Network proudly stands as a reputable auditing, accounting, and tax consulting firm in Vietnam. With over 500 trusted FDI clients over the years, MAN is committed to providing comprehensive financial solutions, helping businesses build transparent and optimized management systems according to international standards.
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 Audit Firms
Why are MAN's audit fees different from other firms?
MAN's fees reflect the value derived from a team of experts with over 20 years of direct experience, rather than relying on interns to handle most of the work like some other companies.
Does MAN provide support to businesses during tax audits?
Yes. This is MAN's strength. We always stand behind and defend our audited data against regulatory authorities.
Should a business hire a MAN to handle both accounting and auditing?
By law, to ensure independence, an auditing firm is not permitted to audit financial statements it has prepared itself. However, MAN has independent departments to provide management advisory services or support pre-audit reviews.
How long does an audit typically take?
Depending on the size of the company, it typically takes 1 to 4 weeks of on-site work after all the necessary documents have been prepared.
Does MAN provide audits for businesses located in remote provinces?
MAN has a nationwide network of experts ready to support businesses in all industrial parks and export processing zones from North to South.
