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WAREHOUSE OF ENTERPRISE MANAGEMENT KNOWLEDGE

Specialized content, carefully edited, compiled and updated by the Expertis Committee

Auditing knowledge for directors

  • Banks provide information to tax authorities: Do businesses need to worry?
  • Transfer pricing: Vietnamese enterprises are careful to collect tax arrears
  • Some new points Decree 102/2021/ND-CP on administrative sanctions in the field of accounting and auditing
  • How do tax regulations affect the presentation of financial statements?
  • What information do investors want to read from financial statements?
  • What is the difference between Compliance Audit and Internal Audit?
  • Why compliance audit? What benefits do businesses get from this?
  • Accounting for expenses incurred due to the impact of the Covid 19 epidemic
  • Converting financial statements from VAS to IFRS: detailed steps
  • Why apply IFRS in Vietnam and why should businesses care about IFRS?
  • Difference between VAS and IAS/IFRS
  • Where can I find the easiest and most accurate IFRS standards to download?
  • IFRS history: the process of formation, recognition and development
  • What is IFRS? What is the importance of IFRS today?
  • What are the benefits of auditing financial statements for businesses?
  • When did the audit start?
  • Auditing financial statements: what businesses need to know
  • Places to submit audited financial statements at the end of the year
  • Things to know about audit contracts
  • What is a financial statement and what is inside it?
  • Applying to convert financial statements from VAS to IFRS in Vietnam
  • Tax authorities and the fight against profiteering from value added tax (VAT)
  • Guidelines for the mechanism of prior agreement on tax calculation method (APA)
  • Affiliate transactions (transfer pricing) – Part 3: Classification of associated transactions and the principle that the substance determines the form
  • Internal audit helps relieve accounting pressure
  • Notes to the Board of Directors when preparing the Financial Statements
  • How artificial intelligence is changing the global economy
  • The importance of auditors
  • Vietnam economic forecast 2021
  • Financial planning for business
  • Witnessing inventory - Auditing method out of documents
  • COVID-19: Programs to assist businesses in responding to pandemic
  • Is financial reporting for tax purposes only?
  • How to optimize efficiency from using Annual Financial Statement Auditing Services
  • COVID-19: How do leaders maintain business continuity
  • Small and medium enterprises (SMEs) and continuity of activity during COVID-19
  • Business subjects often forget to audit their financial statements
  • Inventory of assets at the end of the fiscal year, the things that businesses should note
  • Use digital signature (electronic signature) to sign audit reports, why not?
  • COVID-19: Several solutions to improve cash flow management efficiency
  • Sample internal audit regulations applicable to firms
  • Reasonable and valid expenses are deductible when the enterprise makes tax finalization
  • Building processes, problems from letting go of management
  • Tax policy: a constant worry of foreign investors
  • Auditing Financial Statements: Enterprises "must" or "should" audit?
  • The role of audit compliance with the accounting financial system
  • Conclusion of audit contract: The time required to perform

Legal provisions on auditing

  • Decree 102/2021/ND-CP on penalties for administrative violations in the fields of taxation, invoices, accounting and auditing
  • Sanctions for administrative violations on accounting and auditing
  • Decree 84/2016 / ND-CP on auditing for units with public interest
  • Independent auditing law
  • Decree 165 / 2018 / ND-CP on electronic transactions in financial activities
  • Decree 41/2018/ND-CP on penalties for administrative violations in the field of accounting and auditing
  • Regulations on Consolidation of legal documents and how to use Consolidated documents

Audit standards

  • Professional ethical standards of accounting and auditing, issued together with Circular 70/2015 / TT-BTC
  • Vietnamese framework on guarantee service contracts, issued together with Circular 69/2015 / TT-BTC
  • Standard No. 4410 on financial information synthesis service, issued together with Circular 68/2015 / TT-BTC
  • Standard No. 4400 on Contracts for Implementation of Pre-Agreed Procedures for Information, issued together with Circular 68/2015 / TT-BTC
  • Standard No. 1000 on audit of settlement reports for completed projects, issued together with Circular 67/2015 / TT-BTC
  • Standard No. 3420 on service contracts to ensure the BC synthesizes TC information according to the convention in the prospectus, issued together with the Circular 66/2015 / TT-BTC
  • Standard No. 3400 on checking future financial information, issued together with Circular 66/2015 / TT-BTC
  • Standard No. 3000 on service contracts to ensure outside service auditing and reviewing TC information in the past, issued together with Circular 66/2015 / TT-BTC
  • Standard No. 2410 on reviewing interim TC information implemented by independent auditor of the unit, issued together with Circular 65/2015 / TT-BTC
  • Standard No. 2400 on reviewing past financial statements, issued together with Circular 65/2015 / TT-BTC
  • Quality control standard No. 1 on quality control enterprises performing auditing, reviewing financial statements, assurance services and other related services, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 810 on reporting services on summary financial statements, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 805 on notes when auditing individual financial statements and when auditing specific elements, accounts or items of the financial statements, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 800 on notes when auditing financial statements is prepared in accordance with the framework of preparing and presenting financial statements for special purposes, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 720 on other information in documents containing audited financial statements, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 710 on Comparative Information - Corresponding data and comparative financial statements, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 530 on audit sampling issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 550 on related parties issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 540 on auditing accounting estimates issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 706 on the paragraph "Matters to emphasize" and "Other issues" in the financial statements of financial statements, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 520 on analytical procedures issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 510 on the first year audit - Opening balance issued together with Circular No. 214/2012 / TT-BTC
  • Auditing Standard No. 505 on external confirmation issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 501 on audit evidence for special items and events issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 705 on the audit opinion is not a fully accepted opinion, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 500 on audit evidence attached to Circular 214/2012 / TT-BTC
  • Auditing Standard No. 450 on assessing errors detected during the audit process issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 402 on factors to consider when auditing an entity using external services, issued with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 700 on the formation of audit opinions and audit reports on financial statements, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 620 on the use of experts' work, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 610 on the use of work by internal auditors, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 600 on notes when auditing the Group's financial statements (including the work of member auditors), issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 580 on written explanations, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 570 on continuous operations, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 560 on events arising after the balance sheet date, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 330 on the auditor's handling of assessed risks, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 320 on materiality in audit planning and implementation, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 315 on identifying and assessing risks of material misstatement issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 300 on planning to audit financial statements issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 265 Communicating deficiencies in internal control with those charged with governance and management of the entity audited in conjunction with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 260 on communicating issues with management of entities audited, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 250 on Review of compliance with laws and regulations in auditing financial statements issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 240 on the auditor's responsibilities related to fraud in the auditing of financial statements, issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 230 on audit documents and records issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 220 on quality control auditing financial statements issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 210 on audit contracts issued together with Circular 214/2012 / TT-BTC
  • Auditing Standard No. 200 on the overall goals of auditors and auditors issued together with Circular 214/2012 / TT-BTC

Line of audit updates

  • Data sharing between Social Insurance (SI) and Tax Authority: What are businesses concerned about?
  • Transfer pricing: Vietnamese enterprises are careful to collect tax arrears
  • How do tax regulations affect the presentation of financial statements?
  • What information do investors want to read from financial statements?
  • Accounting for expenses incurred due to the impact of the Covid 19 epidemic
  • Applying to convert financial statements from VAS to IFRS in Vietnam
  • Affiliate transactions (transfer pricing) – Part 3: Classification of associated transactions and the principle that the substance determines the form
  • Home
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  • Standard No. 4410 on financial information synthesis service, issued together with Circular 68/2015 / TT-BTC

Standard No. 4410 on financial information synthesis service, issued together with Circular 68/2015 / TT-BTC

   

Scope of application

01. This Standard specifies and guides the responsibilities of practicing accountants, accounting firms and practicing auditors, and auditing firms (hereinafter referred to as "practitioners") when performing the exercise. services assisting entity management in preparing and presenting historical financial information without making any guarantees of such information and reporting on the performance of information aggregation services financial (hereinafter referred to as “integrated services”) in accordance with this Standard (See paragraphs A1 - A2 for guidance in this Standard).

02. This Standard applies to historical financial information aggregation services. Where necessary, this Standard may also apply to information aggregation services other than historical financial information and non-financial information aggregation services. "Financial information in the past"Hereinafter is understood as"Economic information"(See paragraphs A3 - A4 for guidance in this Standard).

03. When user entity management requests a practitioner to assist with the preparation and presentation of financial information, the practitioner may need to consider whether the service is subject to this Standard. are not. Factors that indicate a service to which a service is required under this Standard, including reporting in accordance with this Standard, include:

(1) Financial information is subject to relevant laws and regulations and is not disclosed;

(2) Persons other than those intended to use aggregated financial information, tend to associate practitioner names with that financial information and are at risk of misunderstanding about the extent of the practitioner's participation. profession on that information or not, for example:

    (i) If the information is used for purposes by parties other than management or those charged with governance, or the parties may be provided with or collected information that is not the intended use of the information. ;

    (ii) If the practitioner's name is displayed with financial information (refer to paragraph A5 of this Standard).

Relationship with Quality Control Standard 1

04. Accounting service firms and auditing firms (hereinafter referred to as “accounting and auditing firms”) are responsible for their own quality control system of policies and procedures. Quality control standard No. 1 - Quality control of firms performing audits, reviewing financial statements, assurance services and other related services (hereinafter referred to as “Quality control standards Quantity 1) applies to accounting firms and auditing firms in performing services that aggregate financial information in accordance with this Standard (See paragraph 04 Quality Control Standards No. 1). The requirements and guidelines of this International Standard relating to quality control at the level of each service contract that compile financial information are established on the basis that the firm is required to comply. Quality Control Standard 1, other professional requirements or relevant legal and regulatory requirements that are at least equivalent to Quality Control Standard 1 (See paragraphs A6 - A11 for guidance in this Standard).

Financial information synthesis service

05. Management of a user entity can request a practitioner to assist with preparing and presenting the entity's financial information. The value of performing an aggregate service contract in accordance with this Standard in providing users with financial information is the result of the practitioner's application of professional skills in accounting and financial reporting. profession, compliance with professional standards, including relevant ethical standards and regulations and specific information on the nature and extent of practitioner participation with financial information synthesized (See paragraphs A12 - A15 for guidance in this Standard).

06. Aggregate service is not a guaranteed service, so it does not require practitioners to check the accuracy or completeness of information provided by the Board of Directors to synthesize information and does not request Obtain evidence as a basis for expressing an auditor's opinion or making a review of the financial information after the synthesis.

07. Management is responsible for financial information, the basis of financial information preparation and presentation. This responsibility includes the application of judgments necessary to the preparation and presentation of financial information, including the selection and application of suitable accounting policies and the development of reasonable accounting estimates. when necessary (See paragraphs A12 - A13 for guidance in this Standard).

08. This Standard does not address the responsibilities of management or those charged with governance and has no greater effect than the laws and regulations relating to their responsibilities. Aggregate services in accordance with this International Standard's guidelines and guidelines are performed on the basis that management or entity management (to the extent applicable) has understood and agreed to its responsibility as a basis for general service practitioners (See paragraphs A12 - A13 for guidance in this Standard).

09. Financial information that is subject to aggregate service may be requested to synthesize for many different purposes, including:

(a) Comply with the requirements for periodic and mandatory financial reporting and presentation by applicable laws and regulations; or

(b) For purposes other than those related to the preparation and presentation of the financial statements required by applicable laws and regulations, for example:

     (1) To management or those charged with those charged with governance, established on a basis consistent with the specific purpose of those charged with management or those charged with governance (e.g., preparing financial information for internal use only );

     (2) Prepare periodic financial statements to a third party under contract or other agreement (for example, financial statements provided to the donor organization at the request of donors);

     (3) To carry out transactions, such as transactions involving a change in ownership of a business or a change in financial structure (for example, mergers or acquisitions).

10. Different financial reporting frameworks can be used for the preparation and presentation of financial information, from small and medium business accounting bases to standards of preparation and presentation. Financial statements as required. The financial reporting framework used by management in preparing and presenting financial information will depend on the characteristics of the entity and the intended use of the financial information.See paragraphs A16 - A18 for guidance in this Standard).

Applicable basis

11. This Standard covers the practitioner's goal of complying with this Standard, which lays out the rationale for the rules and instructions of this Standard to help the practitioner understand the work to be performed. in general service.

12. This Standard consists of the section "General Regulations", the section "Content of the Standard" and the section "Instructions for Application" appropriate to the specific circumstances to help the reader understand correctly this Standard.

13. The requirements of the mandatory “Standard content” section must be applied to ensure that the practitioner meets the objectives.

14. The section “Instructions for application” explains more about the rules and the instructions for implementing them. Guidance sets out how to apply regulations appropriately. Application guidance may also provide information necessary to assist in understanding its requirements to support the application and compliance of this Standard.

15. Practitioners shall comply with the provisions and instructions of this Standard in agreeing to and performing contracts for financial information synthesis services.

Users of services (customers) and related entities and individuals shall have the necessary understanding of the requirements and regulations of this Standard to coordinate work and deal with relationships. Involving financial information aggregation service agreements and performance.

 

Full text view Standard number 4410 (Vietnamese)

Full text view Standard number 4410 (English)

 

 

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Updated on September 28, 2020
Standard No. 4400 on Contracts for Implementation of Pre-Agreed Procedures for Information, issued together with Circular 68/2015 / TT-BTCVietnamese framework on guarantee service contracts, issued together with Circular 69/2015 / TT-BTC

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