I. INDEPENDENT AUDIT:
Independent audit is an indispensable activity in the market economy with the role of bringing the reliability of financial information through audited financial statements, thereby creating a basis for party conducting economic transactions.
- What is the independent audit?
Independent auditing is the examination and confirmation of auditors and auditing firms about the truthfulness and reasonableness of documents, accounting data and financial statements of enterprises (auditing units) upon request of these entities.
- Operation principles of independent auditors:
- Complying with Vietnamese laws, audit standards.
- Take responsibility before law for professional activities and audit results.
- Compliance with ethics of the audit profession.
- Ensuring the professional independence, professionalism, interests and honesty, lawfulness and objectivity of the independent audit.
- Confidentiality of information of the audited units, unless otherwise agreed by the auditors or provided for by law.
- Compulsory audit:
The annual financial statements of the following businesses must be audited:
- Foreign-invested enterprises
- Organizations with credit activities, banks, and Development Assistance Funds
- Financial institutions and insurance businesses
- Particularly for joint-stock companies and limited liability companies participating in the listing and trading in the securities market, the audit shall be conducted in accordance with the law on securities trading; If borrowing capital from banks, the auditing shall comply with the provisions of the credit legislation.
II. AUDITED FINANCIAL STATEMENTS:
In a market economy, auditing has become an indispensable need for improving business performance and quality of management. Along with the development of the market economy, auditing becomes an indispensable activity for financial information of enterprises.
An audit of financial statements is a document prepared and published by an auditor to clearly state his or her official opinion on the financial statement of an audited unit.
Auditing financial statements help users assess the reliability of quantitative information on the financial statements make the right and effective economic decisions in economic relationships with organizations or businesses that have financial statements.
Especially, NVCS’s Auditing Service provides quick financial statements on the confirmation of 6 billion capital for real estate companies at reasonable prices.
III. PERFORMANCE AUDIT:
Performance audits are a systematic process of evaluating the effectiveness, efficiency, and economy of activities under management control and reporting to individuals appropriately on the results of the audit and make recommendations for improvement.Performance audit services are used for all programs or activities related to life, economy, society such as environment, education, health, etc. In companies, performance audits can be used for all management activities such as planning, marketing, production, sales, research, human resources, accounting, etc
Performance audits help companies focus on the management systems and control activities that are problematic, which are related to human resources, material, and financial resources.
Performance audits give managers a deep understanding of what has arisen in the operation and implementation process of the entity, thereby creating an opportunity to improve the management and operations systems.
NVCS provides performance auditing to help leaders of the audited entities improve the economics, efficiency and effectiveness of management and operational systems through recommendations that are stated in the audit report. As such, operational audits focus on the future of the entity. The results of the audit will help businesses operate more effectively
- COMPLIANCE AUDIT:
NVCS conduct compliance audits to help businesses check, evaluate the compliance with a certain regulation, or evaluate the compliance with the provisions of legal documents, terms, and commitments. contract or internal regulations of the business
- INTERNAL AUDIT:
With the development of the market economy, the integration of the WTO and the rapid development of the stock market, and the slowdown in the management of some enterprises, internal audits are necessary for business activities.NVCS conduct internal audits to bring businesses many benefits:
- Help businesses identify and improve weaknesses in the management system.
- Helping the board of directors and the board of governing committee has better control over operations, better manage risks, and increase the ability to achieve business goals.
- Help companies check, evaluate and confirm the quality and reliability of economic and financial information of financial statements, and management accounting reports of enterprises to increase the trust of shareholders, investors.
=> Conducting internal audit with 3 main objectives: growth, efficiency, and control to help companies develop sustainably
- AUDIT OF FINANCIAL STATEMENTS FOR TAX PURPOSE AND TAX SETTLEMENT SERVICES:
Conducting an Audit and giving opinions on the Financial Statements based on tax regulations, in order to help companies reflect honestly and reasonably on the important aspects of their financial situation, as well as income and expenses in accordance with applicable regulations that serve as a basis for tax purposes.
This financial statement is audited as a basis for tax finalization and determination of tax obligations.
VII. AUDIT THE COMPLETED INVESTED CAPITAL FINALIZATION REPORT
Conducting audits and making comments on the completed investment capital finalization report on the basis of all reasonable expenses made during the investment process to prepare reports on the basis of accounting standards, current accounting regime and regulations on finalization of current investment capital, compliance with laws and relevant regulations on construction investment management. Thereby reflecting truthfully and reasonably on the material aspects of the situation and investment results in order to put the project into use based on the design documents and cost estimates that have been approved, ensure compliance with standards and regulations, level, unit prices, financial – accounting regimes, economic contracts that have been signed and relevant government regulations.
The audit results and audit opinions will add to the reliability of the completed investment capital finalization report and serve as a basis for competent agencies to consider, examine and approve the completed investment capital finalization report.
VIII. AUDIT THE FINANCIAL INFORMATION ON THE BASIS OF THE PRE-AGREEMENT PROCEDURES:
In order to carry out the audit procedures that have been agreed in advance between the auditor, the audited unit and the relevant third party. NVCS provides financial information checking services based on pre-agreed procedures to report results. This financial information may be individual items, part of financial statements or the whole financial statement.
For this type of inspection, the test results report only presents the actual findings of the implementation of the agreed procedures, without giving any assurance opinion about the reliability of the financial information. Users of the test report must themselves evaluate the procedures and findings reported by the auditor and draw your own conclusions based on the test results. The nature of the examination of financial information on the basis of pre-agreed procedures is not the auditing of financial statements or the review of financial statements, so it is not necessary to give an assurance opinion about the reliability of financial information.
- AUDIT OF PROJECT FINALIZATION REPORT
Based on the approved project documents, financial and accounting regimes, and relevant state regulations, NVCS conduct an audit of the project finalization reports, thereby giving opinions the project finalization reports is:
- Make on the basis of accounting standards, accounting regime and regulations on project settlement reports.
- Compliance with relevant laws and regulations on construction investment management.
- Reflecting truthfully and reasonably on important aspects of the situation and investment results.
