The Entities operating in Vietnam are required to comply with the Vietnam Accounting System (“VAS”) which applies the historical cost convention. Accounting records are generally required to be maintained in Vietnamese language, but this can be combined with a commonly-used foreign language, if required.
YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Vietnam Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In Vietnam, the annual financial statements of all foreign-invested business entities must be audited by an independent auditing company operating in Vietnam. It has issued 26 accounting standards and 47 auditing standards which are primarily based on international standards with some local modifications
Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals can provides you auditing services for your business as required.
The State Bank of Vietnam is the central bank in Vietnam regulating the Banks in the Country. The major banks in Vietnam are ACB Asia Commercial Bank, VIETNAM EXPORT IMPORT BANK, VietinBank & the Vietnam Development Bank. All banks are stable, reliable and offer the same level of services. The accounts can be opened and maintained in multi-currency and is available for all major currencies with the Banks. The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening.
YourGlobalPro professional can facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Vietnam.