SERVICES

Audit Services

Benefits of Financial Statement Audits

  • For businesses: Enhance credibility, identify and address weaknesses in the accounting system, and meet the requirements of partners and banks.
  • For investors: Reduce risk and provide a reliable basis for making investment decisions.
  • For regulators: Monitor legal compliance and prevent financial fraud.

Financial Audit Process
The process includes 6 key steps: planning, preliminary audit, detailed audit, evaluation, reporting, and post-audit follow-up.

Let MBA be your trusted partner with professional auditing services to optimize financial operations and enhance business value.

Pricing

Audit Services

Service Fee

15,000,000 ₫

Financial Statement Audit: Importance, Process, and Benefits

Auditing financial statements plays a critical role in business development. It is not only a legal requirement but also a tool to build trust and transparency with partners and investors. In this section, we will explore what a financial statement audit is, its process, and the value it brings to businesses.

What is a Financial Statement Audit?

A financial statement audit is the process of examining and assessing the accuracy and fairness of a company’s financial records and reports.

Objectives of Financial Statement Audit

  • Verify accuracy and fairness: Ensure published figures accurately reflect the company’s actual situation.
  • Evaluate legal compliance: Check adherence to accounting standards and current regulations.
  • Prevent errors and fraud: Detect material misstatements or potential fraud in the financial system.
  • Provide reliable information: Support investors, partners, and stakeholders in making informed decisions.
  • Support management: Ensure financial reports align with strategic and managerial goals.

Benefits of Financial Statement Audits

Audits provide significant value to businesses, investors, and regulatory bodies.

1. For Businesses

  • Increase credibility and trust with investors and partners.
  • Identify and improve weaknesses in internal controls.
  • Meet financial reporting requirements from banks or funding institutions.

2. For Investors

  • Ensure access to accurate and transparent financial information for investment decisions.
  • Minimize risks by selecting trustworthy companies.

3. For Regulatory Bodies

  • Monitor compliance with accounting standards and legal frameworks.
  • Prevent fraudulent activities or material errors in reporting.

Which Enterprises Are Required to Audit Financial Statements?

According to Decree 17/2012/ND-CP and relevant legal regulations, the following types of enterprises are required to conduct financial statement audits:

• Foreign-invested enterprises (FDIs).
• Public companies, issuing organizations, and securities trading organizations.
• Credit institutions, insurance companies, and financial organizations.
• State-funded enterprises, except for special cases involving national security.
• Enterprises implementing Group A projects or nationally important projects.

Financial Statement Audit Process

The audit process includes 6 main steps to ensure comprehensive and effective evaluation:

1. Audit Planning

• Assessing business risks and the enterprise’s operating environment.
• Defining audit scope, timeline, and necessary resources.

2. Preliminary Audit

• Evaluating the effectiveness of the internal control system.
• Identifying areas that require detailed inspection.

3. Detailed Audit

• Examining documents, confirming third-party information, and performing financial analysis.
• Verifying the accuracy of key items such as assets, liabilities, revenue, and expenses.

4. Evaluation and Conclusion

• Analyzing all evidence to form an audit opinion.
• Recommending necessary adjustments if errors or fraud are detected.

5. Audit Report Preparation

• Presenting the auditor’s opinion on the truthfulness and fairness of the financial statements.

6. Post-Audit Monitoring and Reporting

• Auditors monitor the implementation of adjustments and handle any subsequent events if necessary.

Why Use Financial Statement Audit Services?

A reputable audit firm not only ensures accuracy and transparency but also helps businesses enhance management and build credibility with partners.

Professional Audit Services at MBA

**MBA AUDIT FIRM CO., LTD** proudly provides high-quality financial audit services with the following commitments:
• On-time delivery with full responsibility.
• Absolute confidentiality of accounting data.
• Preparation of documents and records in compliance with legal requirements.

Conclusion
Financial statement audits are not only legal requirements but also strategic tools for transparency, credibility, and improved management. Contact MBA today to receive expert consultation and the best support for your financial audit needs.

FAQ

Frequently Asked Questions

What is auditing?

Auditing is the process of examining and evaluating a company’s financial statements to ensure compliance with legal regulations, accounting standards, and an accurate reflection of the company’s financial status.

When is an audit required for a company?

A company may need an audit in the following cases:

  • To comply with legal regulations (e.g. listed companies, public companies, or foreign-invested enterprises).
  • Upon request from partners, shareholders, or other stakeholders.
  • To ensure transparency and reliability of financial reports.
What are the benefits of auditing?
  • Enhances transparency and reliability of financial statements.
  • Detects and resolves errors or fraud.
  • Supports better business decision-making.
  • Meets the requirements of tax authorities, banks, or investors.
What does an audit service include?
  • Financial statement audit.
  • Internal audit.
  • Compliance audit.
  • Review and assurance services (e.g. financial statement review, risk assessment).
What should businesses prepare before an audit?
  • Provide all relevant documents and data related to financial reports.
  • Agree on audit scope, timeline, and requirements with the audit firm.
  • Ensure cooperation from relevant departments within the business.
How long does an audit usually take?

The audit duration depends on the size and complexity of the business, usually ranging from 2 to 6 weeks.

How is the audit service fee calculated?

Audit fees are determined based on:

  • Company size and audit scope.
  • Complexity of the financial statements.
  • Specific client requirements.
What’s the difference between internal and independent audits?
  • Independent audit: Conducted by external audit firms to ensure objectivity and independence.
  • Internal audit: Performed by the company’s own internal team to assess and improve business operations.
What are the steps in an audit process?
  • Audit planning.
  • Information collection and analysis.
  • Conducting tests and reconciling data.
  • Preparing the audit report and providing an opinion.
How to choose a reputable audit firm?



Businesses should consider the following factors:

  • Experienced auditors with professional certifications.
  • The company’s reputation and years of operation.
  • Feedback from previous clients.
  • Services that match the specific needs of your business.




8 YEARS OF EXPERIENCE

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We build strong, long-lasting relationships with each of our clients, helping them achieve their goals while ensuring the highest level of security and confidentiality in their business operations.


8+

Years of Practical Experience


140+

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Customer Satisfaction

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Contact

Contact MBA Auditing Firm Company Limited Now

Our consultants (lawyers and legal experts) are ready to assist you 24/7.

Head Office

21/3 Hong Lac Street, Ward 10, Tan Binh District, Ho Chi Minh City, Vietnam

Representative Office 00001

Room 610, 6th Floor, Safomec Building, No. 7/1 Thanh Thai Street, Ward 14, District 10, Ho Chi Minh City, Vietnam

Email

kinhdoanh@mba-au.com

Hotline

0984844099