Accounting process & policy review and optimisation
Professional – Optimized – Reliable
Services
General description of the service
With this service, our team of professionals supports enterprises in reviewing and improving their existing accounting processes to ensure accurate compliance with applicable regulations and optimise financial efficiency. The service includes assessing and evaluating the enterprise’s accounting system, identifying issues or weaknesses requiring improvement, and providing specific solutions to optimise workflows.
The deliverable of this service is a management letter, in which we set out in detail the findings identified during the review and assessment, together with recommendations for improvement.
Our objective is to help enterprises not only ensure compliance but also optimise their processes, thereby enhancing financial efficiency and protecting their legitimate interests.
Service Usage Context
- Small and Medium-sized Enterprises (SMEs): Require review and optimisation of accounting processes to ensure regulatory compliance without the need to maintain a large in-house accounting function.
- Large Enterprises or Multinational Companies: Require optimisation of accounting processes and policies to minimise risks, reduce costs and ensure compliance with both international and domestic regulations.
- Enterprises Facing Issues with Existing Financial Processes: Require improvements to workflows, optimisation of financial operations and reduction of errors.
- Enterprises Preparing for Changes or Expansion: Require review and enhancement of accounting processes to support business growth and ensure continued compliance and financial efficiency during new stages of development.
Service delivery process and timeline
Service process
- Hold detailed discussions with the client to understand the enterprise’s existing accounting system.
- Identify issues or areas requiring improvement within the accounting processes and agree with the client on the optimisation objectives.
- Analyse weaknesses and risks within the client’s accounting system, including deficiencies that may lead to errors, fraud or non-compliance with applicable regulations.
- Assess areas requiring optimisation to improve operational efficiency, minimise risks and enhance transparency in financial reporting.
- Provide specific recommendations to improve accounting processes.
- Recommend new internal control measures and accounting procedures that are better aligned with current regulatory requirements.
- Develop or revise the client’s accounting policies and processes to align with applicable regulatory requirements and optimisation objectives.
- Establish new procedures and provide detailed implementation guidance to ensure accurate and efficient compliance with accounting regulations.
- Support the client in implementing new policies and processes, including training staff on the changes and providing guidance on the use of new accounting software or systems, where applicable.
- Support the client in carrying out procedures related to updating accounting policies and help ensure that all activities comply with applicable regulations.
- Monitor the implementation of optimisation solutions and assess the effectiveness of changes made to accounting processes after a period of implementation.
- Evaluate the results and effectiveness of the improvements against the agreed objectives, and make further adjustments where necessary to continue optimising the processes.
- Provide the client with a Management Letter setting out the findings identified during the review, the solutions implemented and further recommendations to support the continued improvement of the enterprise’s accounting processes.
Timeline for Service Delivery
The timeline for accounting process & policy review and optimisation services depends on the scope of work, the complexity of the processes requiring improvement and the level of cooperation from the client, including relevant parties such as management, accounting personnel and other related partners.
Typically, we complete this service within 4 to 6 weeks. However, for engagements with urgent timelines, we may implement special measures, such as allocating additional resources and flexibly adjusting the process, to meet the client’s requirements in a timely manner. Active cooperation from the client is also required to help achieve optimal results.
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