What Documents Should a Business Prepare Before an Audit?

Which Companies Are Required to Have Financial Statements Audited in Vietnam?

Businesses in Vietnam must comply with auditing regulations as stipulated in Decree 17/2012/ND-CP, including:

1. Companies with foreign investments, banks, financial institutions, insurance companies, and securities companies.
2. Other businesses as prescribed by the law.
3. State-owned enterprises and organizations implementing important national projects or Group A projects using state funds.
4. Enterprises in which listed organizations or securities business organizations hold 20% or more of voting rights.
5. Auditing companies and branches of foreign auditing companies in Vietnam.

Documents Businesses Need to Prepare Before an Audit: To facilitate a smooth auditing process, businesses need to prepare various types of documents and records in advance, including:

1. Financial statements in Excel format.
2. General ledger for the audited financial year.
3. Subsidiary ledgers, detailed accounts.
4. Allocation table, fixed asset depreciation schedule.
5. Bank subsidiary ledger, confirmation letter of bank balance.
6. Reconciliation minutes of accounts payable 131, 331, and confirmation letter at the end of the period.
7. Value-added tax, personal income tax, corporate income tax declarations, final settlement of corporate income tax, personal income tax.
8. Employment contracts, payroll, collective labor agreements, salary regulations, etc.
9. Sales and purchase contracts for goods and services.
10. Invoices for goods and services.
11. Printed accounting books.
12. Notarized copy of the business registration certificate.
13. Investment license of the enterprise.
14. Financial regulations, collective labor agreements.

Companies subject to mandatory financial statement audits should ensure they follow the prescribed procedures and timelines to avoid any disruptions to the auditing process. If readers have a need for auditing services for their businesses, do not hesitate to contact Viet Au Audit for prompt assistance!

Viet Australia
Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.