Accounting health check
Professional – Optimized – Reliable
Services
General description of the service
With Accounting Health Check Services, Crowe Vietnam’s team of professionals supports enterprises in assessing their accounting systems and reviewing accounting records, supporting documents and financial statements to identify errors, determine risks and evaluate compliance with current accounting regulations. This provides enterprises with a basis for improving the quality of financial information and enhancing management effectiveness.
The deliverables include a Management Letter, summarising findings, deficiencies and risks identified in the accounting function, together with specific recommendations to rectify errors, improve accounting processes and strengthen internal controls.
The service helps enterprises enhance the accuracy, transparency and reliability of financial statements, while also optimising financial management activities.
Service Usage Context
- Small and Medium-sized Enterprises (SMEs): Require assessment of the accounting system, identification of errors and improvement of processes for recording and consolidating financial information.
- Large Enterprises or Multinational Companies: Require reviews of data consistency, assessment of accounting processes and enhancement of internal controls.
- Enterprises Facing Accounting Errors or Deficiencies: Require identification of root causes, assessment of impacts and recommendations for appropriate adjustments and corrective actions.
- Enterprises Preparing for Financial Statement Audits: Require a pre-audit review of accounting records, supporting documents and financial statements to proactively address outstanding issues.
- Enterprises Undergoing Restructuring or Accounting System Transformation: Require assessment of the current state, identification of areas for improvement and enhancement of the operational efficiency of the accounting function.
Service delivery process and timeline
Service process
- Discuss with the client to understand its business model, organisational structure, accounting system and any difficulties or issues arising during operations.
- Define the scope of the Accounting Health Check and agree with the client on the areas and procedures to be performed.
- Collect financial statements, accounting books and records, accounting documents, and other relevant records and supporting documentation required for the review.
- Review the completeness, accuracy and reasonableness of data recorded in the accounting books and financial statements.
- Reconcile data between the general ledger, subsidiary ledgers and relevant reports.
- Assess the consistency of the recognition, consolidation and presentation of accounting information in the financial statements.
- Review material accounting transactions, including revenue, expenses, cash and cash equivalents, accounts receivable, accounts payable, inventories, fixed assets, investments, borrowings and provisions.
- Review the completeness, validity and appropriateness of accounting documents, and assess the reasonableness of the recognition, classification and accounting treatment of transactions.
- Select transaction samples for detailed examination of supporting documents, contracts, invoices, receipts, payment vouchers, payment records and other relevant documentation.
- Assess compliance with applicable accounting laws and the accounting regime adopted by the enterprise.
- Review the application of accounting principles and policies in the recognition, measurement, classification and presentation of transactions.
- Assess the appropriateness of the accounting records, accounting processes and related internal control activities, and identify deficiencies and potential risks that may affect the reliability of financial information.
- Identify errors, areas of non-compliance and other deficiencies in accounting records, document management and financial statement preparation.
- Assess the impact of identified errors and risks on the accuracy, completeness and reliability of financial information.
- Recommend appropriate adjustments, corrective actions and improvements to the accounting function based on the enterprise’s actual circumstances and applicable regulations.
- Prepare a summary report on the results of the Accounting Health Check, setting out the findings, errors, risks and matters requiring priority attention.
- Issue a Management Letter with recommendations to improve the quality of accounting practices, strengthen the internal control system and enhance the enterprise’s financial management processes.
Timeline for Service Delivery
The timeline for accounting health check services depends on the scope of work, scale of operations, complexity of the accounting system and the client’s level of cooperation, particularly from the accounting and finance teams.
Typically, the service can be completed within approximately 2 - 4 weeks. For urgent engagements, Crowe Vietnam may flexibly allocate additional resources and adjust the implementation plan, subject to agreement with the client and while ensuring the quality of the work.
Quotation process and service fees
To prepare and send you a tailored quotation, we kindly request that you provide relevant information via our form and/or through an in-depth discussion. Based on the information collected, we will analyze your needs and specific requirements in order to:
- Assess the feasibility of service delivery: Determine whether we can provide the requested service appropriately and at a guaranteed quality level.
- Advise on optimal solutions: Recommend alternative solutions (if any) to help optimize efficiency and cost-effectiveness for your organization.
If we are able to support you, we will propose a reasonable fee based on:
- An estimated workload of the engagement;
- The level of professional expertise required from our team.
Estimated response time: The quotation process will be completed within 12 to 24 hours upon receiving your request.
Frequently asked questions
1. Does Crowe’s accounting service ensure the confidentiality of enterprise information?
We are committed to maintaining the absolute confidentiality of all client information under a Non-Disclosure Agreement (NDA) and apply advanced data security measures to ensure information is protected.
2. When should an enterprise optimise its accounting processes?
- An enterprise should consider optimising its accounting processes when its operations expand, costs increase or financial reporting becomes less accurate.
- This is also important where risk controls or regulatory compliance are not sufficiently effective, or during digital transformation.
- In particular, before capital raising, listing or entering into international cooperation, a transparent and optimised accounting system can help strengthen the enterprise’s competitiveness.
3. Do small enterprises need to engage accounting services?
Yes. Regardless of size, accounting errors may still result in penalties or create difficulties as the enterprise expands. Using professional accounting services helps ensure regulatory compliance, minimise errors and legal risks, improve financial efficiency and reduce personnel costs, allowing the enterprise to focus its resources on core business activities.
4. Can an enterprise change its accounting outsourcing service provider?
Yes. Enterprises may change their accounting outsourcing service provider if the current service no longer meets their requirements. We support data migration, document handover and onboarding to help ensure a smooth transition.
Brand commitment
Crowe Vietnam is committed to building and delivering on its brand personality, with the goal of fostering trust and providing an exceptional experience throughout our journey with clients and partners.
High professional quality at a reasonable cost
Crowe Vietnam is committed to delivering high quality solutions and services at reasonable costs, ensuring an exceptional client experience. We consistently strive for differentiation and continuously enhance the professional capabilities of our team to best meet the evolving needs of our clients.
A portrait of our clients & business partners
We aspire to collaborate with clients and partners who are committed to:
Insights
News
Overview of Crowe Vietnam
Top 9
International brand in Audit, Accounting, Tax, and Business Advisory
Top 9
Audit service provider for FDI enterprises in Vietnam
Top 15
Audit and Advisory service providers in Vietnam
18+
Years of operation (since 2008)
200+
Personnel (350+ including personnel of Crowe’s business associates in Vietnam)
4
Offices
1000+
Clients (1500+ including clients of Crowe’s business associates in Vietnam)
Crowe Vietnam Introduction Video
Why choose us for this service?
Choosing the right service partner is a key factor in ensuring both effectiveness and peace of mind. Here’s why Crowe Vietnam is the trusted choice for you.
International Brand
Crowe Vietnam is a member of Crowe Global, one of the world’s top 10 networks in accounting, audit, tax and business advisory services. With a network of 798 offices across 150 countries, we are committed to delivering accounting services that meet international standards to all our clients.
Assured Expertise
With a highly qualified team holding professional qualifications such as CPA Vietnam, CTA, ACCA, CPA Australia and ICAEW, Crowe Vietnam delivers reliable, accurate and transparent accounting services in compliance with Vietnamese regulations and international standards.
Professional Services
We strictly comply with professional standards. Our clients also receive useful newsletters and publications, attend professional seminars with experienced specialists, and access practical support tools developed and continuously enhanced by Crowe Vietnam.
Strict Confidentiality
At Crowe Vietnam, client confidentiality is always a top priority. We apply rigorous internal controls systems and advanced security standards to ensure that all accounting and financial data is securely protected and information security risks are minimised.
Global Support
With direct support from the Crowe Global network, we provide comprehensive accounting advisory solutions that address clients’ needs in Vietnam and support international expansion, ensuring regulatory compliance and optimising business efficiency across multiple markets.
Reasonable Fees
We are committed to delivering services of a quality comparable to leading global firms at highly competitive fees, ensuring that clients receive optimal value and an appropriate balance between cost and quality when using our accounting services.
Senior Personnel
Nam Nguyen
Chairman & Managing PartnerFCCA, FCPA, CA (SGP), CTA
Lam Vu
General Director & Audit DirectorCPA VN, CPA AU, CTA, MA
Linh Nguyen
Partner, Tax & AdvisoryCPA VN, CPA Aust., CTA
Phat Tran
Partner, Audit & AssuranceFCCA, CIA, CPA VN, CTA