#audit firm in Vietnam

[tokyoconsultingfirms]

Navigating the Landscape of Audit Firms in Vietnam

Vietnam's rapid economic growth, business expansion, and increasing international trade have elevated the significance of audit firms within the country's financial ecosystem. As businesses become more complex and regulations more stringent, audit firms play a pivotal role in ensuring financial transparency, accountability, and compliance. This article delves into the world of audit firms in Vietnam, highlighting their functions, challenges, regulatory framework, and importance in maintaining the integrity of the business environment.

The Role and Functions of Audit Firms

Audit firms in Vietnam are entities specializing in providing independent and objective evaluations of an organization's financial statements, internal controls, and operational processes. Their primary goal is to assess the accuracy and reliability of financial information, providing stakeholders – including investors, regulators, and shareholders – with the confidence that the reported financial data is accurate and transparent.

The key functions of audit firms include:

Financial Statement Audit: Audit firms meticulously review an organization's financial statements, verifying their accuracy and adherence to accounting standards. This process helps in detecting errors, misstatements, or fraudulent activities.

Internal Control Evaluation: Audit firms assess the effectiveness of an organization's internal controls. Strong internal controls safeguard against financial irregularities and ensure efficient operations.

Risk Assessment: Audit firms identify and evaluate potential risks that could impact an organization's financial health. This aids in the formulation of strategies to mitigate these risks.

Compliance Verification: Audit firms ensure that companies adhere to relevant laws, regulations, and accounting standards, fostering transparency and accountability.

Challenges Faced by Audit Firms in Vietnam

Audit firms in Vietnam encounter a range of challenges, some of which include:

Regulatory Complexity: Navigating the intricate web of regulatory frameworks in Vietnam can be challenging. Frequent changes in regulations require audit firms to stay updated and adapt swiftly.

Quality and Capacity: Ensuring consistent audit quality while managing a high volume of audits can be demanding. Maintaining a skilled workforce and managing workloads are crucial factors.

Cultural and Language Barriers: In an increasingly globalized business environment, audit firms must bridge cultural and language gaps to effectively communicate with clients and stakeholders.

Emerging Technologies: Embracing and integrating advanced technologies like data analytics, artificial intelligence, and automation is essential for enhancing audit efficiency and accuracy.

Regulatory Framework for Audit Firms in Vietnam

The regulatory landscape for audit firms in Vietnam is governed by the Ministry of Finance and its associated bodies. Audit firms must adhere to the Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS) when conducting audits.

The Audit Law of 2010 outlines the legal framework for audit activities in Vietnam. It requires audit firms to be registered with the State Securities Commission (SSC) and the Ministry of Finance. Additionally, audit firms must obtain a practicing certificate and adhere to ethical guidelines set by the Vietnam Association of Certified Public Accountants (VACPA).

Importance of Audit Firms in Vietnam

Audit firms play a vital role in promoting trust and transparency in Vietnam's business environment. Their independent assessments provide assurance to investors, lenders, and stakeholders about the accuracy and reliability of financial information. This, in turn, contributes to attracting foreign investment, fostering economic growth, and maintaining the stability of the financial market.

In a rapidly developing economy like Vietnam, the role of audit firms is paramount. As businesses continue to expand and internationalize, the demand for transparent and trustworthy financial information will only increase. Through their diligent assessments and adherence to regulatory frameworks, audit firms contribute significantly to the overall health and credibility of Vietnam's business landscape.

[mariacallous]

The Western press rarely shows China’s leader, Xi Jinping, smiling broadly or laughing, seeming to prefer photos of him that project a stern, even dour demeanor. Yet last week, Western media coverage of Xi’s face-to-face meeting with U.S. President Joe Biden in Woodside, California, near San Francisco, featured image after image of a jovial Xi cheerily waving as he strolled along a garden path with Biden or smiling warmly as he gripped Biden’s hand on the red carpet.

The lingering question is: Why the change?

Was it, as some coverage portrayed it, that the United States suddenly had the upper hand in the ongoing contest between the leading powers after years of trailing growth, leaving Xi softened or humbled? Or was it, relatedly, that Xi had become so alarmed by the post-pandemic stall-out of the Chinese economy that he felt obliged to show up in California as a lightly disguised supplicant in bad need of foreign investment?

Neither of these explanations is especially persuasive. In terms of economics, the relative fates of superpowers rarely hinge on trends that can be measured in as few years as the brief period in which China’s economy has begun to lag. The idea that Xi came to California hat in hand, looking for China’s enormous economy to be bailed out or revived by a new burst of Western investment is also belied by the facts. Xi abstained from making direct appeals for investment, and he made no public concessions to the foreign business types who have begun to complain about the increasingly difficult operating environment they have faced in China, from politically targeted audits and the arbitrary detention of executives to the ongoing theft of intellectual property.

It is more likely that diplomatic rather than economic motives underlie Xi’s new style. Under his leadership, Beijing has pursued a foreign policy in several parts of the world of jutting jaws and squared shoulders, often speaking bluntly and in a patronizing tone toward other countries. And while this seems to have paid off for a while at home, making some audiences there swell with pride that their country had become a power to be reckoned with, over time it has produced sharply negative returns.

Even with the United States experiencing big stumbles of its own—such as a badly botched withdrawal from Afghanistan, a war that looks increasingly stalemated in Ukraine, an increasingly incoherent populist right-wing Republican Party, a dysfunctional Congress, and great looming uncertainty over the next presidential election, which will pit an unprecedentedly old Biden against an unhinged (and almost as old) Donald Trump—Xi’s China has been steadily losing diplomatic ground due to its assertive approach.

This can be seen in numerous parts of the world, but it is clearest in China’s own neighborhood, where it matters most to Beijing. There, countries as disparate and far-flung as the Philippines, India, Australia, and Vietnam have been firming up their ties with the United States as a hedge against pushiness from China.

I shared my own theory about Chinese assertiveness under Xi in a book I wrote about China’s conceptions of itself as a global power over a span of many centuries. In it, I explained that since the late 19th century, the preoccupation of Chinese elites and much of China’s state behavior have been wrapped up in recovering a position that the country takes—not unreasonably, given its large population size and long and distinguished history—as its natural and deserved place at the center of world affairs. During his first 10 years in power, Xi was no different; only his tactics marked a departure from the recent past.

I assessed that Xi had become persuaded that China had a limited window of opportunity to cement strong gains in power relative to the rest of the world—and especially the United States. The chief reason for this was that even a decade ago, it had become widely understood that China was set to experience an enormous and globally unprecedented wave of aging and population decline and that a shift in demographic fundamentals as profound as this would impose huge costs on the state—in lost labor and output as well as in the huge new outlays of capital that would be required to take care of older adults and the chronically ill amid a stark dearth of young people.

For Xi, this meant that China had to move fast and with ambition and focus to improve its position in the world and lock in those gains. This helps explain the enormous Belt and Road Initiative that Xi rolled out shortly after taking power. It helps explain the large increases China has made in armaments, and especially in costly naval and ballistic power, during this period. And it explains China’s assertiveness in the East and South China Seas of the far-western Pacific as well as the feeling that Taiwan has increasingly had during this time of wearing a bull’s-eye on its back.

Unfortunately for Xi, who has removed formal limits on the length of time he can serve as leader but who still faces human limits like anyone else, the trends that are most important to China’s medium- and longer-term prospects have dramatically worsened over this time. And even for a leader famously averse to changing course, this has begun to render a policy of sharp elbows prohibitively costly.

According to one Chinese demographic expert, the country’s overall population declined by 850,000 people in 2022 and will continue to shrink strongly until 2097. Despite an aggressive recent reversal of the country’s infamous one-child policy and official encouragement to women to have more babies, China’s fertility rate has seen a continuation or even acceleration of the decline in the average number of babies born per woman. According to official statistics, a new record low was reached in 2022, with 1.09 children per woman on average. Demographers say that 2.1 children per woman is the number needed to simply maintain a steady population size.

China’s population accounted for 22 percent of the global total in 1980. By 2020, the percentage had fallen to 18. And according to the United Nations’ median projections, that number will stand at only 14 percent by 2050, with more continued decline in sight. In 2050, people over 65 will account for 30 percent of the population, or more than twice the present level. This will render guns-versus-butter choices for China excruciating, including making recruitment and staffing for the world’s largest armed forces in terms of manpower much more difficult and expensive.

There may be no reason thus far to believe that Xi has fundamentally altered his views about the Chinese economy, which have strongly favored state corporations over private enterprise, both domestic and foreign. There are, however, increasingly strong reasons to believe that after years of strengthening, China’s overall position in the global economy is under severe pressure and may even decline.

In one of the most sobering recent assessments of China’s prospects by a prominent economist, Ruchir Sharma wrote in the Financial Times that China’s economy is set to decline this year in nominal terms. Over the last three decades, China has usually been a leader in driving the growth of the world economy. Its share of global output rose nearly tenfold between 1990 and 2021. Using China’s own data, though, Sharma wrote that in 2023, China will account for none of the world’s economic growth. The United States alone, he said, will generate 45 percent of the $8 trillion of expected expansion in the global GDP. India, Indonesia, Mexico, Brazil, and Poland will supply almost all the rest. “That is a striking sign of possible power shifts to come,” Sharma wrote.

Xi did not come to the United States humbled by any of these realities, and China’s medium- to longer-term objectives as a world power have not turned in some new direction on a dime. China’s daunting recent fundamentals are sobering enough, though, that even this man, one of the most willful leaders the world has seen in decades, is having to take stock.

[isocertificationinfrance]

The Role of SOC 2 Certification in Providing Digital Trust and Security for Modern Organisations

What is SOC 2?

SOC 2 Certification in Afghanistan  or Service Organisation Control Type 2, is a cybersecurity compliance framework developed by the American Institute of Certified Public Accountants (AICPA). Its primary goal is to ensure the security of client data held by third-party service providers. It describes how organizations should manage client data in accordance with the Trust Services Criteria (TSC), which include security, availability, confidentiality, processing integrity, and privacy.

How do you attain SOC 2 compliance?

SOC 2 Consultants in Australia let’s look at how your organization can achieve SOC 2 compliance now that we've covered what it is and why it's important. The nine steps to achieve SOC 2 compliance are:

Understand your scope.

Select the appropriate trust service requirement.

Perform a gap evaluation.

Develop policies and procedures.

Implement security controls.

Monitor and audit.

Engage a third-party auditor.

Remedy and improve

Maintain continuing compliance.

Let us examine each one in depth.

What is the SOC 2 Audit?

SOC 2 Audit in China  differs from some security standards, such as ISO 27001 and PCI DSS, which have strict requirements.

Controls and attestation reports are unique to each organization.

Each organization develops its own controls to meet its Trust Services Criteria.

An outside auditor is then brought in to ensure that the company's controls meet SOC 2 standards.

Following the audit, the auditor prepares a report assessing how well the company's systems and processes adhere to SOC 2.

Every organization that completes a SOC 2 audit receives a report, regardless of whether or not the audit was passed.

Auditors use the following terminology to characterize the audit results:

Unqualified: The corporation passed the audit.

Qualified: The company passed, but some areas require attention.

Adverse: The company failed its audit

Disclaimer of Opinion: The auditor doesn’t have enough information to make a fair conclusion.

What are the benefits of SOC 2 compliance?

SOC 2 compliance confirms that your company has enough procedures in place to ensure information security in your environment. SOC 2 Implementation in France is more credible than your word that you are compliant because it is an impartial audit conducted by a third-party CPA firm.

Companies choose to demonstrate SOC 2 compliance for several reasons, which are listed below:

Differentiate yourself from your competitors.

Identify important controls for your clients and test them to validate their design and operation.

Create more controlled and consistent processes.

In some circumstances, you cannot enter a specific market without a SOC 2. For example, if you're selling to financial organizations, they'll almost definitely want a Type II SOC 2.

How much does achieving SOC 2 attestation cost?

SOC 2 Cost in Vietnam pays between $40,000 and $140,000 to prepare for and conduct a SOC 2 compliance audit, as well as receive a SOC 2 Type 2 Service Auditor's Report. Remember that a SOC 2 report is not a certification, but rather an explanation of audit results.

Some of the factors that can influence SOC 2 audit expenses are:

The extent of the information management system that is under audit.

The number of sites within scope

The number of Trust Services Criteria in scope for the audit.

The size of the organization under audit

The "gap" between existing controls and policies and what SOC 2 requires

Additional security technologies, employee training, etc. are required to close current holes.

Requires consultation and other outsourced services to prepare for the SOC 2 audit.

The preferred SOC 2 audit type (SOC 2 Type 1 or SOC 2 Type 2)

How to get a SOC2 consultant ?

SOC 2 Registration in Bangalore-“B2B CERT”offers consulting services to help organizations achieve and maintain SOC 2 compliance. Our team will collaborate with yours to ensure that all of your security policies, procedures, and practices comply with the SOC 2 Trust Services Principles and Criteria. We will also offer advice on how to appropriately manage potential threats to data privacy and integrity so that your organization can achieve the necessary degree of security maturity. With “B2B CERT” SOC 2 expertise, you can count on us to assist your organization achieve verifiable security and compliance.

[tcfvietnam]

Accounting services in Vietnam

Accounting services in Vietnam refer to the professional services provided by accounting firms or certified public accountants (CPAs) to assist businesses with managing their financial records and complying with local regulations. These services typically include bookkeeping, financial statement preparation, tax compliance, audit, and advisory services.

In Vietnam, accounting services are regulated by the Ministry of Finance and the Vietnamese Association of Certified Public Accountants. Businesses are required to maintain accurate financial records and submit periodic financial reports to the government. Therefore, many businesses in Vietnam rely on accounting services to ensure that they meet regulatory requirements and manage their finances effectively.

Accounting services in Vietnam may also include specialized services such as payroll processing, financial analysis, and risk management. Many accounting firms in Vietnam also offer consulting services to help businesses improve their financial performance and make strategic decisions.

Accounting services in Vietnam refer to the process of managing financial transactions, recording them accurately, and producing financial statements and reports for businesses and organizations operating in Vietnam.

Vietnam's accounting system is primarily based on Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS). Accounting services in Vietnam are crucial for businesses and organizations to ensure their compliance with local laws and regulations, as well as to make informed decisions about their financial performance.

Some common accounting services in Vietnam include bookkeeping, tax compliance, auditing, financial reporting, payroll processing, and budgeting. Many businesses in Vietnam outsource their accounting services to specialized firms that have the expertise and experience to handle complex financial transactions and comply with local regulations.

Overall, accounting services in Vietnam play a vital role in ensuring the financial stability and growth of businesses and organizations operating in the country.

Checkout:>>> Accounting services in Vietnam

[iso9001certificationinitaly]

Determining the scope of the food safety management system

What is ISO 22000 certification?

Certification requires a food safety management system that complies with ISO 22000.It describes the actions a company must take to demonstrate that it can control the risks to food safety in order to ensure that food is safe. The Food Safety Management System ISO 22000 can be implemented by any organisation along the entire food supply chain, from farm to fork. A business can demonstrate to clients that it has a food safety management system in place by obtaining ISO 22000 certification.ISO 22000 Registration in Vietnam Customers will have more faith in the goods as a result.This issue is growing more and more important as consumers demand safe food and food processors demand safe ingredients from their suppliers.

The International Organization for Standardization produced the Food Safety Management System Certification: ISO 22000.To apply to food safety, ISO and its member nations modified the Quality Management System approach by combining the widely accepted and effective  principles and Good Manufacturing Principles addressed by Prerequisite Programs in ISO 22000.

Benefits of ISO 22000 certifications for organisations in vietnam?

Boost risk management safeguards all along the food supply chain.

Boost the trust that consumers, suppliers, and other interested parties have in the Safety of your product and your capacity to lower health risks. ISO 22000 Services in Vietnam

Increased use of resources on a global scale

Increased corporate profits

Employment of higher quality in the food industry

Enhanced economic expansion

Greater food safety

Decreased incidences of food-borne illness

Effective techniques, processes, and methods documentation

It is provided that there may be a harmonisation of national food standards.

 How much does ISO 22000 Certifications cost in vietnam?

The price of obtaining ISO 22000 certification varies depending on the organisation. Fundamentally, after your management systems and all of your processes have been approved by an internationally recognised certifying authority for ISO Certification, they will provide you a price quote for the certificate. Also, the cost of obtaining ISO certification largely depends on your firm, including factors like the number of employees, branches, and more.ISO 22000 Certification cost in VietnamThe actual cost of ISO certification is the amount of time and money needed to submit an application and maintain certification. ISO has admirable goals and has contributed, but like most bureaucratic institutions, it has grown overly complex and expensive to operate. Despite this, many businesses, especially those in government, utilise ISO certification as a crude filter to sift out companies that are vying for contracts.

To even start at the front of the pack in the industry you are targeting, you have to determine whether the business you are in requires ISO certification.

How business will get benefits by setting ISO 22000 Certification in Vietnam ?

Worldwide Recognition:-India's ISO 22000 Audit is well-known and respected worldwide. The establishment of internationally recognised business procedures thanks to the ISO 22000 Standard opens up new opportunities for you to expand your corporation. The ISO 22000 Certification in India not only increases your compliance with international food safety standards but also gives you recognition on a global scale.

Credibility and Openness:-One of the organisational characteristics that is difficult to find in the modern food chain industry is credibility. ISO 22000 Certification process in Vietnam You can increase your transparency and, as a result, your credibility with clients and shareholders by working with an ISO 22000 Certification Consultant in vietnam. The ISO 22000 Standard eventually supports the expansion of your business.

Business continual improvement:-Your company can improve consistently with ongoing system and practise updates. Making the systems efficient is another benefit of the ISO 22000 Certification procedure for a firm. A company can enhance its food business continuously with ISO 22000 Certifications.

Greater assurance among participants:-The ISO 22000 standard certification confirms the calibre of your food safety Management system and the practises of hazard control, which further increases stakeholder and supplier confidence in your company.

How to get ISO 22000 certifications in vietnam?

Contact certvalue Services right away to receive an Information Security Management solution that is easier, quicker, and more reasonably priced. ISO 22000 Implementation in Vietnam workers have received thorough training on the ISO 22000 process, and your data is protected. Our training, documentation recommendations, and expertise of our qualified consultants will guarantee that your organization receives the required training in the quickest, simplest, and most effective way possible.

[startupbusiness10]

Environmental Marketing Consultant Cambodia

The ambition of the organisation was to reach beyond options provided by present service suppliers by adding sophisticated analysis and ongoing retail advertising providers to its existing strengths as mall administration and operators. 

By creating a truly comprehensive service offering, The Mall Company offers the one complete retail real estate and mall administration resolution in Cambodia.

Almond Hospitality Group offers complete or partial resort & restaurant administration services; building from a strong base of years of experience in creating successful brands for hotels to prime-notch F&B outlets in Cambodia. Singapore, 12 June 2015 — Deloitte Southeast Asia expands its regional footprint by officially opening its Cambodia follow today. 

Joining 10 other native practices – Brunei, Guam, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam – Deloitte Cambodia aims to draw on the regional and international experience inside the Deloitte community to deliver high quality services to firms working in or out of the country. 

Here, we believe that a sense of camaraderie and open communication inside the team are critical in constructing a high performance staff. Azuri Engineers is licensed to provide professional engineering services by the Professional Engineers Board .

Chief APO Resource Person for this in-county Development of National Productivity Organisation implementation program that skilled a total of 18 Consultants of the Malaysia Productivity Corporation in January 2012. Together with two other Resources Persons from Japan and Taiwan, the school brought members through 2 weeks of intensive coaching on superior productiveness matters of enterprise innovation and process reengineering. 

Through our expansive trade experience within PwC, we assist create integrated, finish-to-end digital solutions from strategy and innovation via to execution to solve our purchasers’ most complex enterprise challenges. Our regional presence brings access to one of the best of native data and a longtime network of sector expertise across South East Asia. 

Asia CEO Awards presented by Aseana City represents the grandest alliance of native and worldwide enterprise individuals ever created to advertise Philippines on the world stage.

 As one of many largest occasions of its type within the Asia Pacific region, it is thought of a must-attend event for business leaders active in Southeast Asia. We can improve your in-house Project Management skills through a combination of formal and informal training in both Project Management Methodologies and Soft Skills Training in managing project groups in addition to the connection with external customers.

Our earlier clients embrace both national and worldwide and United Nations corresponding to International Center on Research on Women , World Bank, FAO, UNDP, UNIDO, ILO, VSO, FACT, Survey Distribute Ltd, and so on. EDI is devoted to the success of our shoppers by offering probably the most trusted and respected professional research and consulting providers for the nation's business group. 

Oliver Ho & Associates is nicely-trained consultancy firm in every area of business management. Each of our consultants are capable of create an tough environment to audit your small business. Soon after we will provide in-depth suggestions to additional increase the standard management of your organization. 

You will establish efficiency gaps and training alternatives and ensure the easy operations of all L&D programs and initiatives. You will serve as consultant for performance management activities including talent mapping, objective setting and particular person development planning.

Deloitte Cambodia can faucet into this full spectrum of world and regional insights, and at the similar time, present in-depth local market data which is crucial when navigating the local enterprise, tax and regulatory setting. Our mission is to be recognised by our repeat and new shoppers as a reliable skilled consultancy agency, that understands and adds worth to their businesses.

 Alphasearch is an Asia-Pacific centered Executive Search firm that gives business and functional experience delivered by a group of extremely skilled recruitment professionals. The capability of Alphasearch extends throughout Commerce, Industry and Professional Services with each distinct sector driven by highly-reputed industry and useful specialists. 

Alphasearch is particularly noted for its success supporting the regional 'Emerging Markets' and it presents a superb track-record of success constructing complete teams in addition to delivering ad hoc appointments. Interested candidates will supply no less than 10 years’ senior-stage F&B management expertise complemented by P&L accountability and multi-territory/website accountability ideally gained within a multinational, branded F&B enterprise. 

In addition, the profitable candidate could have proven capability to lead and inspire multi-functional teams to ship high efficiency whilst also providing experience in building relationships with Franchise Partners.

The course lined sharing of the experiences masking more than 18 productiveness methods utilized in Singapore and Philippines. Chief Resource Person to plan, supervise and conduct the 2-week in-Country Advanced Development of Productivity Practitioners Course training forty consultants for Thailand Productivity Institute in Thailand in 2009. The course coated sharing of the experiences overlaying greater than 30 productivity techniques utilized in Singapore, India and Malaysia. 

Technical Expert on Productivity and Consultancy for the Development of Productivity Specialist course organized by the Development Academy of the Philippines and the Asian Productivity Organization since 2002. The work involved preparing and coaching of government officers from National Productivity Organisations, in the in-company productivity diagnosis of firms within the Philippines. 

Conducted 9 runs of the course training 250 members from Asian countries including Bangladesh, Cambodia, Fiji, India, Indonesia, Iran, Lao DPR, Malaysia, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, Vietnam, Myanmar and Brunei. Technical Expert for the Asian Productivity Organization for the project on Structured On-the-Job training in Malaysia for the Malaysian Productivity Corporation in the course of the period 2007 and 2009.

The growth, scheduled for completion in 2020, may also characteristic a 3rd fifty five-storey tower containing places of work and a 300-room Shangri-La Hotel, atop a five-storey retail podium. Residential unit sales for Tower 2 will go international next month with a Singapore launch, deliberate be adopted by further launches in China and Hong Kong later this yr.   startup management meaning

CK&A Consultancy International Pte Ltd has a comprhensive position on the project, offering design providers for Town Planning, Architecture, C&S + M&E Engineering and Traffic Engineering, as well as Project Management.

Meinhardt Group has just lately expanded its world operations with the opening of its new workplace in Phnom Penh, Cambodia. Member firms are independently constituted and controlled in accordance with relevant native legal requirements. Services offered by a member agency are governed by the phrases of engagement between the member agency and the consumer. 

Acted for the Stock Exchange of Thailand in relation to authorized comparative examine on capital market associated laws focusing on shareholder protections. Acted for Hitachi Ltd., a Japanese multinational conglomerate company, in relation to its Cambodian three way partnership firm’s labour registration and other regulatory filings.

My success in building lasting consumer relationships is evident via the belief placed in me by my purchasers and the numerous referrals that I have obtained from them in consequence. During 2017 I accomplished numerous massive and small workplace leasing transactions, in addition to finishing numerous, complicated valuation and consultancy reviews.

He can be confident that Deloitte Cambodia will play a key position in uplifting and transforming accountancy sector to another level of superior stage. Deloitte is presently the most important professional companies organisation on the earth with mixture revenue of US$34.2 billion and a headcount of over 210,000 professionals.

 Azuri Engineers Pte Ltd is a younger and dynamic firm with offices in Singapore and Cambodia. "Conjunct Consulting is a meaningful project that helps VWOs align their strategy with their mission. This platform offers the scholars an actual experience of the corporate world and appreciation of the Social Service Sector." Our strategy initiatives could also be adopted by an implementation project for profitable execution. 

Tight research and reliable information are needed for grant proposals, evaluations, fiscal monitoring, useful resource allocation and project planning. We also can help you analyse and draw insights from the programme data you could have collected.

[businessdevelopmentvietnam]

Business & Economics

Those companies embody coal gasification, geothermal exploration, and smelting of ores similar to nickel and copper. All PT PMA corporations must acquire the Principal Licence earlier than it could possibly begin operations. Subsequently, the corporate should obtain the Business Licence or different exercise-specific licences before it could commence revenue-generating activities.

Most generally generally known as KITAS by the native, this work visa is familiar to expats who are working and doing enterprise in Indonesia on a full-time foundation with Indonesian residence. KITAS allows its holder to reside in Indonesia for up to 5 years, and has to be renewed annually. With a much clearer and more clear Indonesian visa system, many foreigners are nonetheless confused between a piece visa and enterprise visa in Indonesia. There are several kinds of visa to work and do business development Vietnam based mostly on applicant’s intended use.

As a end result, it's extremely really helpful so that you can understand the type of visa that is appropriate for you based on your wants and necessities. Indonesia's economy contracted for the first time in more than two decades last year as household consumption slumped and companies delayed investment as a result of coronavirus pandemic. Singapore has traditionally been the biggest foreign investor in Indonesia.

It is required for the company to be managed by a Board of Directors, which in flip ought to be supervised by a Board of Commissioners. Many overseas traders coming into the Indonesian market at an early stage often select to arrange an Agency Agreement or a Representative Office. However, as soon as the enterprise starts to develop they may apply for Foreign Direct Investment Company status. This section discusses the incorporation of a foreign funding restricted liability company in Indonesia, often known as Perseroan Terbatas Penanaman Modal Asing . 

An overview of the authorized system; international funding, including restrictions, forex laws and incentives; and business autos and their relevant restrictions and liabilities. The Doing Business project offers goal measures of business laws and their enforcement. Looking at domestic small and medium-dimension corporations and measures the regulations applying to them by way of their life cycle.

In this regard, ESG and SBF have led mission trips and launched Singapore companies to regional governments in Indonesia to share our corporations’ competencies and focus on potential areas of collaboration. You must submit a copy of your Employment Pass, Blue IC, Work Permit or "PR". Applicants who've been issued with a new Singapore Work Pass which shows a QR code should provide a printout the expiry standing through accessing the Ministry of Manpower 's SGWorkPass app. This print out must present the current date and confirm that the work move is valid. 

Applicants who wish to remain in Indonesia for greater than 30 days, or usually are not arriving and departing Indonesia from any of the Airports and Seaports listed above, should apply for a Tourist Visa. Single-entry and Multiple-entry visa candidates who provide a telex approval from the Indonesian Government, must supply an authorisation letter from the Indonesian workplace.

You must additionally retain your earlier cell gadget with the TraceTogether app up to 14 days after departure from Singapore. This is as a result of the TraceTogether app information saved in your earlier cellular gadget also needs to be retained for that duration, as set out within the RGL Terms and Conditions. Yes, all travellers to Singapore must download and activate the TraceTogether app. They should stay isolated on the accommodation until the test result is confirmed to be adverse.

Once the RPTKA is approved, a piece allow and limited keep permit are issued. This requires cost of an annual Skill and Development Fund fee amounting to USD 1,200 per foreigner. If a RGL returnee subsequently exams constructive for COVID-19 within 14 days after leaving Singapore, he/she might be required to addContent his/her TraceTogether app data through the TraceTogether app, utilizing an addContent code provided by MOH. 

If the traveller had used the TraceTogether app on a cellphone that was provided by the host/sponsor, the host/sponsor will be required to upload the TraceTogether app knowledge via the identical course of. Travellers must retain the TraceTogether app with the information on their cell units for 14 consecutive days after departing from Singapore.

The tourism minister said the Indonesian authorities also plans to launch an utility that can not only hint however observe the motion of tourists. Corporate Secretary tracks adjustments in your organization’s construction and top administration, compiles papers and reports to the government about your small business. No, travellers ought to seek help from their Host to make the purchases on their behalf to limit the contact with the area people. Any deviation from controlled itinerary could result in the cancellation of Visit Pass.

Indonesia’s stated coverage is to take care of its national GAAP and steadily converge it with IFRS. As of 1 January 2017, Indonesia has converged to IFRS applicable as of 1 January 2016 . All public listed firms, state owned firms, firms handling public money and corporations having a turnover above IDR 50 billion (USD three.eight million), should have their accounts audited by a registered Indonesian CPA. 

For some industrial activities that include tourism and mining, having an Indonesian associate is compulsory with the proportion of equity required various across the completely different fields of exercise. Gain a greater understanding of Indonesia’s business surroundings and structure by reading via this guide.

Thailand has managed to realize zero native instances for over 20 days and is considering allowing inbound journey for enterprise visitors. Income tax is applied to resident companies and people on most sources of increase in financial wealth. Income tax is collected both directly and at source through a wide range of withholding taxes. Individuals who're residents in Indonesia for greater than 183 days in any 12-month period or who intend to settle in Indonesia are taxed on their worldwide revenue and are usually allowed a credit for taxes paid overseas. The government of Indonesia opens international funding opportunities to an extended record of industries, some of which can require local equity partnership or different circumstances.

You must also take observe that Indonesia has just lately handed a new Law No. 6 in 2011 on immigration and international agreement, with extra visa options out there. In this text, we'll provide some insights to allow you to resolve which visa kind might be your best match. Limited Liability Company is the most commonly used type of business relevant in Indonesia. 

Passive partner, is the associate who only invest funds to the active companion and never contain within the business of the corporate. Passive associate is responsible to the risks to the extent of the capital invested. Firms , regulated under Commercial Code, Firm is a partnership to carry out enterprise by two or extra folks with joint name.

Alternatively, some venues permit you to complete SafeEntry by presenting your passport as identification. A traveller who doesn't have a TraceTogether-appropriate system must secure in advance the rental of a TraceTogether-suitable gadget prior to arrival. For extra information on the rental of Trace-Together appropriate gadgets, please visit the Changi Recommendation website here. 

Please be sure that you retain your cell system’s Bluetooth operate turned on so that the TraceTogether app stays activated throughout your stay in Singapore. If you change your SIM card however are nonetheless using the same cellular device, you'll not have to obtain the TraceTogether app again.

The TraceTogether app supports nationwide efforts to fight COVID-19 by enabling group-pushed contact tracing. It facilitates the contact tracing course of by exchanging Bluetooth signals with close by cellular units running the same app.

In somewhat greater than 20 years, Indonesia has gone from being a minor player within the international coal industry to playing a central role as a key consumer and producer of coal. And at the same time as traders and key export markets are shifting towards alternative energy sources, Indonesia’s legal guidelines are more and more tying future economic growth to the fossil gasoline. 

In the realm of infrastructure, there is additionally a growing demand throughout Indonesia in areas similar to transportation, utilities and sanitation. In addition, the rise of know-how opens up alternatives for sensible city options similar to the event of e-authorities platforms, clever transportation and sensible street lighting.

[antlawyers]

How Cross-Border Supply of Services Works?

Bilateral or multilateral free trade agreements between countries are formed majorly based on the WTO agreement system. In particular, GATS as an Agreement under the WTO system, is the first and only set of multilateral rules governing international trade in services. Ways or modes of trading services are basic provisions of GATS, including: Cross-border supply (mode 1), Consumption abroad (mode 2), Commercial presence (mode 3), Presence of natural person (mode 4). The categorization of modes covering its own regulations depends on the territorial presence of the supplier and the consumer at the time of the transaction. 

                       International trade dispute law firm in Vietnam

According to GATS, cross -border supply means supply of a service from the territory of one Member into the territory of any other member, and supplier and consumer of a member do not present within the territory of other member. Consumption abroad means supply of a service in the territory of one Member to the service consumer of any other member. Presence of natural person means supply of a service by a service supplier of one member, through presence of natural persons of a member in the territory of any other member. It should be noted that cross-border supply of services is defined depending on each Agreement. Under CPTPP, cross-border supply includes modes 1, 2 and 4 above. In this article, cross-border supply is equivalent to mode 1, under GATS.

When participating in GATS, members make commitments for market access with respect to each mode of service supply and sub-sector. The GATS provides a set of general principles that all WTO members must adhere to, which there is no unnecessary barriers applied to trade. However, GATS expressly recognizes the rights of member governments to manage and regulate the supply of services in pursuit of their own policy objectives. GATS also does not interfere in internal affairs ad policies of members. Therefore, the governments absolutely have the right to decide and adopt their trade policies. The enterprise of a member must comply with domestic regulations in the territory of other member where they conduct business and trade in services and refer to that Member’s Schedule of Specific Commitments to understand market access obligations and national treatment.

Most sub-sectors do not restrict market access and national treatment for foreign suppliers providing cross-border services in Vietnam (legal, accounting, auditing, tax, architecture, advertising, management consulting, …). Although the market access is not restricted, it does not mean that the foreign suppliers freely provide services in Vietnam without satisfaction of conditions or without the consent of the competent state authorities. To consider this mater and have a correct understanding, the national treatment principal should be reviewed, it requires that each member shall accord to services and service suppliers of any other member the treatment no less favourable than that it accords to its own like services and service suppliers. Having said that, in the event that a member maintains business conditions for the domestic services and service suppliers, these conditions may also apply to the foreign services and service suppliers.

Such as accounting service business, foreign service suppliers are not restricted in market access and national treatment under the Schedule of Specific Commitments in Services. It means that a foreign accounting firm can provide accounting services to a Vietnamese enterprise. However, accounting service is a conditional business applicable to domestic firms. According to the national treatment principle, Vietnam has the right to impose similar conditions on foreign suppliers. Reference to the provisions of Vietnamese laws, the foreign accounting firm must fully meet the conditions of head office and personnel to be licensed its business in Vietnam. Further, there are tax liabilities arisen which obligations of registration and declaration depend on particulars of transactions. It is suggested that international trade lawyers are consulted to avoid potential disputes or non-compliance of cross-border supply of services.

We are a law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529

[bond-villains-are-winning]

So is the “Must Go to War with Iran” “Crisis” over? If so why? What has Iran done to Change? Asking because...

What ever happened to Venezuela? Getting tired of being manipulated.

The supposedly mainstream media saw the US v Iran as “growing crises” and “tense stand-off”. They couldn’t wait for the advertising revenue from covering another fireworks war zone.

In reality it was 100% Dementia Don and his lap dogs Bolton & Pompeo creating an artificial crises. Unless something changed in Iran from last Thursday, or was it the Thursday before...I can’t keep track? Otherwise, just manipulation

For ham handed but successful manipulation, I’ve been researching 9/11 facts:

Former CIA asset Bin Laden denied having involvement in the hijacking and attacks.

The alleged translation of the 2004 supposed “confession” tape has no details of the planning, nor references to meeting with the terrorists. Scholars point out that there are mistranslations in the official CIA text.

Doesn’t discuss in the 2004 tape why the two airline stocks had massive shorts, as did the stock for the firm on the floors targeted in the first tower. Nor discussion of the flurry of international bank transactions on 9/10 on the floors targeted in the 2nd Tower. Nor the unaccounted $1.5T in Defense spending being audited by the civilian accountants recently moved to the otherwise unoccupied section of the Pentagon targeted by the third plane.

Al Qaeda captured leaders did ‘confess’, under torture, to planning 9/11

The FBI identified the 19 terrorist attackers as Saudis, Egyptians, etc. None were Afghanis.

28 pages of the official 9/11 report were completely redacted. These involved the FBI investigation into the involvement of Saudi officials and Saudi Intelligence agents. Later declassified; years later

The Taliban and Pakistan said that Bin Laden and Al Qaida were not based in Afghanistan.

The Taliban just wanted to be left alone to wipe out the curse of Opium

Nonetheless, the US invades Afghanistan. After unsuccessfully trying to blame Iraq for 9/11. Then...

Opium production skyrockets

The US has an Opioid Crises.

The US forces cannot trackdown the world’s tallest diabetic in Afganistan.

Bin Laden and other Al Qaeda higherups are eventually killed or captured in Pakistan.

Similar scenario preceded the invasion of Iraq. WMDs! Oops!

Of course now we have to go into Iran, or Venezuela, for the same reasons as Iraq in 2003, Afghanistan in 2001, Vietnam in 1968, Cuba in 1961 & 1898, Russia in1918, Europe in 1917, Mexico in 1916 & 1846, Canada in 1812 & 1755, Tripoli in 1801: We are told that someone attacked us or one of our ships In a far off place. Or attacked us from a far off place.

In every f*cking instance a place where, by surprising coincidence, American Big Money saw an opportunity to get even Richer.

In the meantime, the Orange Grifter has unilaterally decided to hand over nuclear bomb technology to Saudi Arabia, the biggest exporter and economic backer of Islamic Fundamentalism in the world. A country mired in the Middle Ages.

The country named by the FBI as being involved in 9/11 in the redacted 28 pages of the 9/11 report. A country whose leader ordered the torture and live dismemberment of a US based journalist. The country currently engaged in the Yemen genocide.

The Orange Grifter trusts the Saudi Murderer like he trusts the Russian Murderer, the North Korean Murderer, the Philippine Murderer, the Turkish Murderer, the Venezuelan Murder, and all the “very nice people” among US White Racist Murders, and his proto-Gestopo ICE child abusers.

Handing over Nuclear technology is cause for impeachment followed by trial for...how is what he is doing different from Ethel & Julius Rosenberg? Yeah, Him and Jared.

Trump and Saudi Arabia are far greater threats than Iran ever could be. Don’t get me started on the “threat” of Venezuela.

[businesslawyersinvietnam]

How to Close a Business in Vietnam

How to Close a Business in Vietnam?

All corporations, companies, partnerships, branch offices, representative offices and other business entities are legal entities in Vietnam which can only be dissolved through formal procedures.

I. What are the major challenges with closing a business in Vietnam?

The main thing to remember throughout the process is that the dissolving company, a branch office or a representative office, one  should pay close attention to the involvement of all key stakeholders, i.e. the employees, customers, creditors, business partners and relevant authorities.

The following are key information to gather for thorough analysis

-Company size in terms of capital and number of employees?

-Enterprise’s business sector?

-Tax invoice usage declaration?

-Annual profit?

-Compliance with tax procedures?

-Administrative violations in the field of taxation?

-Any outstanding tax?

-Tax document filing records?

-Other tax matters?

II. What does the dissolution process involve?

Once an analysis has been through, the next procedures mostly deal with reporting and submitting the relevant documents to the various regulatories and tax authorities at each step of the process, terminating contracts, liquidating assets and settling liabilities, and general administrative work such as returning the corporate seal, registration certificates, and having the company’s name removed from the system of the license authorities.

III) How to prepare document to close a business in Vietnam?

1. Documents submitted to the licensing authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on liquidation;

-Report on enterprise asset liquidation;

-The list of creditors and the paid debt;

-Documents evidencing that enterprise has fulfilled all of its tax;

-Confirmation on social insurance for employees after the dissolution decision;

-The seal and certificate of seal sample registration.

2. Documents submitted to the tax authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on dissolution;

-Audit reports and tax settlements;

-The financial statements for the year to date the decision on dissolution;

-The company’s tax liabilities audited by tax authority;

-Verification of tax obligations of the enterprise.

Closing a business in Vietnam might be a lengthy process and more complicated than setting up a company in Vietnam. Sometimes, it is important to make a decision to exit and start a new venture.  As a law firm in Vietnam, we do assist clients to close the business, exit the investment and deal with pending issues with licensing authorities including department of planning and investment, department of labour, tax bureau and others.

[isocertificationinfrance]

Understanding SOC 1 Certification and Its Importance in Business Operations

In today's corporate context, data security, compliance, and risk management are top priorities for businesses of all sizes. Among the different frameworks and certifications that assist firms in ensuring these elements, Service Organisation Control (SOC) reports stand out. Specifically, the SOC 1 certification focuses on a service organization's controls that are relevant to user entities' internal control over financial reporting. SOC 1 Certification in Afghanistan, its significance, the process involved, and the benefits it brings to enterprises.

Recognising SOC-1 Certification:

SOC 1 in Australia  is one of several SOC reports created by the American Institute of Certified Public Accountants (AICPA). It is specifically designed for service organizations that have an impact on their clients' financial reporting. SOC 1 reports are critical for service organizations in demonstrating that they have effective controls in place to secure their clients' financial data.

Types of SOC 1 Reports

There are two kinds of SOC 1 reports:

Type I Report: This report explains the service organization's system and the adequacy of control design at a certain moment in time.

Type II Report: This report has the same information as a Type I report, but it additionally includes the auditor's assessment of the controls' operational effectiveness over a given time, often six months to a year.

Importance of SOC 1 Certification

SOC 1 certification is important for a variety of reasons:

Client Assurance: It assures clients that the service provider has effective measures in place to protect their financial information.

Regulatory Compliance: Many companies require SOC 1 reports to meet regulations and requirements.

Competitive Advantage: SOC 1 Consultants in China can provide a service organization with a competitive advantage by demonstrating a commitment to high levels of control and security.

Risk management assists in recognising and minimizing risks associated with financial reporting.

Who may do a SOC1 audit?

SOC 1 Audit in France  competent CPA from a CPA firm that specializes in IT and business process controls conducts a SOC1 audit. A qualified CPA firm is defined as an entity or firm that has been qualified by the American Institute of Certified Public Accountants (AICPA) and is listed on their website. The CPA firm audits and verifies by delivering an opinion on whether it agrees with management's assertions about the controls claimed to be in place by the service organization and that the controls match the report's objectives. 

How much does SOC1 certification cost?

SOC 1 Cost in China may vary depending on a number of criteria. The following elements are frequently considered when determining the cost of SOC1 certification. It encompasses, but may not be limited to—

Size of the firm and the number of employees in the scope

Location of offices and data centers in scope.

The scope of the SOC1 audit includes the number of business process control objectives.

Type of Audit Report (Type I vs. Type II report)

Complexity of IT, business processes, and applications

Technology Platforms and Cloud Infrastructure in Use

Risks associated with services and data storage

The advantages of SOC 1 Certification:

Obtaining SOC 1 has various benefits for service organizations:

Enhanced Credibility: Shows the organization's dedication to high levels of internal control and data protection.

Increased Client Trust: Assures clients that their financial information is secure, which helps strengthen company ties.

Regulatory Compliance: Assists in meeting regulatory obligations while avoiding potential fines and penalties.

Operational benefits: SOC 1 Implementation in Vietnam process of preparing for SOC 1 certification can assist discover and address control deficiencies, resulting in operational benefits.

How can I get certified as a SOC1?

The SOC 1 (Service Organisation Control 1) certification, which is frequently sought by organizations such as "b2b cert," focuses on internal controls over financial reporting. This certification assures that the service organization's systems are built and functioning properly to manage and process client data, particularly in a way that may affect the client's financial statements. SOC 1 Registration in Bangalore reports are critical for firms that provide outsourced services that have an influence on customer financial reporting, since they give clients and stakeholders assurances regarding the service provider's systems' reliability and security.

[tcfvietnam]

Audit Services in Vietnam

Internal audit in Vietnam: Internal controls are a crucial aspect of every corporation to maintain stability, reliability, and to prevent any suspicious activities. Hence, it is necessary for a company to have a reliable, independent entity to constantly analyze its operations, and proactively seek to maintain the company’s integrity by performing internal audit Services in Vietnam. One of the most efficient ways to insure a company against such risks is to perform regular internal audits.

Recently, there have been numerous cases of financial incidents involving foreign subsidiaries in Vietnam. One of the main causes of these issues is inefficient work at the foreign subsidiary, due to lack of monitoring from the parent company. If audit is performed directly at the subsidiary, the company has to dedicate much time and effort – and therefore cost – to do so. In addition, when doing auditing & assurance in Vietnam the company may not originally know the customs and regulations specific to Vietnam, leading to even more difficulties.

At Tokyo Consulting Firm, we have employed reliable professionals with sound educational backgrounds and high experience in audit services in Vietnam, specifically tailored to the authorized system. Our staff comprises Certified Internal Auditors and Certified Public Accountants, which allows us to perform audit Services in Vietnam with constant, rigorous controls at our customers’ companies via internal audit in Vietnam. Furthermore, by performing auditing services in Vietnam for our clients, we enhance the governance process and levels of control of the company over its operations. This ability is constantly demonstrated in the improvement of our clients’ operational organization and risk-management effectiveness.

With the help of professionals, our clients are offered expert service for Audit Services in Vietnam. A pioneer in the industry, TCF Vietnam is here to offer the best auditing services in Vietnam that actually add value to the functioning of your organization. Moreover, we also provide the essential personnel, expertise, and methodology to cater the present and ever-changing needs of our clients in the near future.

GET FREE EMAIL CONSULTING

[technologylawyersinvietnam]

How to Close a Business in Vietnam

How to Close a Business in Vietnam?

All corporations, companies, partnerships, branch offices, representative offices and other business entities are legal entities in Vietnam which can only be dissolved through formal procedures.

I. What are the major challenges with closing a business in Vietnam?

The main thing to remember throughout the process is that the dissolving company, a branch office or a representative office, one  should pay close attention to the involvement of all key stakeholders, i.e. the employees, customers, creditors, business partners and relevant authorities.

The following are key information to gather for thorough analysis

-Company size in terms of capital and number of employees?

-Enterprise’s business sector?

-Tax invoice usage declaration?

-Annual profit?

-Compliance with tax procedures?

-Administrative violations in the field of taxation?

-Any outstanding tax?

-Tax document filing records?

-Other tax matters?

II. What does the dissolution process involve?

Once an analysis has been through, the next procedures mostly deal with reporting and submitting the relevant documents to the various regulatories and tax authorities at each step of the process, terminating contracts, liquidating assets and settling liabilities, and general administrative work such as returning the corporate seal, registration certificates, and having the company’s name removed from the system of the license authorities.

III) How to prepare document to close a business in Vietnam?

1. Documents submitted to the licensing authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on liquidation;

-Report on enterprise asset liquidation;

-The list of creditors and the paid debt;

-Documents evidencing that enterprise has fulfilled all of its tax;

-Confirmation on social insurance for employees after the dissolution decision;

-The seal and certificate of seal sample registration.

2. Documents submitted to the tax authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on dissolution;

-Audit reports and tax settlements;

-The financial statements for the year to date the decision on dissolution;

-The company’s tax liabilities audited by tax authority;

-Verification of tax obligations of the enterprise.

Closing a business in Vietnam might be a lengthy process and more complicated than setting up a company in Vietnam. Sometimes, it is important to make a decision to exit and start a new venture.  As a law firm in Vietnam, we do assist clients to close the business, exit the investment and deal with pending issues with licensing authorities including department of planning and investment, department of labour, tax bureau and others.

[vietnamlawyers]

How to Close a Business in Vietnam

How to Close a Business in Vietnam?

All corporations, companies, partnerships, branch offices, representative offices and other business entities are legal entities in Vietnam which can only be dissolved through formal procedures.

I. What are the major challenges with closing a business in Vietnam?

The main thing to remember throughout the process is that the dissolving company, a branch office or a representative office, one  should pay close attention to the involvement of all key stakeholders, i.e. the employees, customers, creditors, business partners and relevant authorities.

The following are key information to gather for thorough analysis

-Company size in terms of capital and number of employees?

-Enterprise’s business sector?

-Tax invoice usage declaration?

-Annual profit?

-Compliance with tax procedures?

-Administrative violations in the field of taxation?

-Any outstanding tax?

-Tax document filing records?

-Other tax matters?

II. What does the dissolution process involve?

Once an analysis has been through, the next procedures mostly deal with reporting and submitting the relevant documents to the various regulatories and tax authorities at each step of the process, terminating contracts, liquidating assets and settling liabilities, and general administrative work such as returning the corporate seal, registration certificates, and having the company’s name removed from the system of the license authorities.

III) How to prepare document to close a business in Vietnam?

1. Documents submitted to the licensing authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on liquidation;

-Report on enterprise asset liquidation;

-The list of creditors and the paid debt;

-Documents evidencing that enterprise has fulfilled all of its tax;

-Confirmation on social insurance for employees after the dissolution decision;

-The seal and certificate of seal sample registration.

2. Documents submitted to the tax authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on dissolution;

-Audit reports and tax settlements;

-The financial statements for the year to date the decision on dissolution;

-The company’s tax liabilities audited by tax authority;

-Verification of tax obligations of the enterprise.

Closing a business in Vietnam might be a lengthy process and more complicated than setting up a company in Vietnam. Sometimes, it is important to make a decision to exit and start a new venture.  As a law firm in Vietnam, we do assist clients to close the business, exit the investment and deal with pending issues with licensing authorities including department of planning and investment, department of labour, tax bureau and others.

[disputeattorneysinhanoi]

How to Close a Business in Vietnam

How to Close a Business in Vietnam?

All corporations, companies, partnerships, branch offices, representative offices and other business entities are legal entities in Vietnam which can only be dissolved through formal procedures.

I. What are the major challenges with closing a business in Vietnam?

The main thing to remember throughout the process is that the dissolving company, a branch office or a representative office, one  should pay close attention to the involvement of all key stakeholders, i.e. the employees, customers, creditors, business partners and relevant authorities.

The following are key information to gather for thorough analysis

-Company size in terms of capital and number of employees?

-Enterprise’s business sector?

-Tax invoice usage declaration?

-Annual profit?

-Compliance with tax procedures?

-Administrative violations in the field of taxation?

-Any outstanding tax?

-Tax document filing records?

-Other tax matters?

II. What does the dissolution process involve?

Once an analysis has been through, the next procedures mostly deal with reporting and submitting the relevant documents to the various regulatories and tax authorities at each step of the process, terminating contracts, liquidating assets and settling liabilities, and general administrative work such as returning the corporate seal, registration certificates, and having the company’s name removed from the system of the license authorities.

III) How to prepare document to close a business in Vietnam?

1. Documents submitted to the licensing authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on liquidation;

-Report on enterprise asset liquidation;

-The list of creditors and the paid debt;

-Documents evidencing that enterprise has fulfilled all of its tax;

-Confirmation on social insurance for employees after the dissolution decision;

-The seal and certificate of seal sample registration.

2. Documents submitted to the tax authority in Vietnam

-Liquidation notice of enterprise;

-Minutes of the meeting of Management Board/ Board of Directors decided on the dissolution of enterprises;

-The company’s decision on dissolution;

-Audit reports and tax settlements;

-The financial statements for the year to date the decision on dissolution;

-The company’s tax liabilities audited by tax authority;

-Verification of tax obligations of the enterprise.

Closing a business in Vietnam might be a lengthy process and more complicated than setting up a company in Vietnam. Sometimes, it is important to make a decision to exit and start a new venture.  As a law firm in Vietnam, we do assist clients to close the business, exit the investment and deal with pending issues with licensing authorities including department of planning and investment, department of labour, tax bureau and others.

[linkacct-blog]

Link Accounting

What  As stated by the Australian Accountants Directory they're,"a professional of accountancy or bookkeeping, that is the measurement, disclosure or provision of assurance about financial advice that helps investors, managers, tax authorities and many others make decisions about financial resources"("About Accountants"). As you might already know, different regions of the planet have different specialist bodies of bookkeeping.

Link Accounting

For Example, not each state utilizes the American Institute of Certified Public Accountants (AICPA). As its name implies, that is only utilized in the USA. Australia, nevertheless, has three lawfully recognized local expert accounting bodies; the institute of public accountants (IPA), CPA Australia (CPA), and the institute of chartered accountants of Australia (ICAA).

Link Accounting

The IPA Has Existed since 1923 and Continues to increase in the business now. After 90 years it now sits over 26,000 members and pupils across 64 countries and is rated in the best professional accounting bodies on earth ("Institute of Public Accountants"). They obtained a complete membership of the International Federation of Accountants (IFAC) at 2005 and the Confederation of Asian and Pacific Accountants (CAPA) at 2011. They're actually working towards building connections and measuring knowledge abroad. They're innovative in everything they do since they are known among the top 20 in BRW's most advanced companies in Australia listing for 2012. The IPA has three degrees of membership, Associate (AIPA), Member (MIPA), and Fellow (FIPA).  An Associate membership requires you to possess a Australian Advanced Diploma of Accounting or a Bachelor's degree in Accounting which may be equivalent in character. MIPA membership demands Australian Advanced Diploma of Accounting, two decades of pre-IPA program fulltime job experience in accounting or related disciplines along with also a mentored experience application. A FIPA membership necessitates seven years' MIPA standing or equivalent and 10 years' experience in bookkeeping the previous five years need to be in a senior level ("Institute of Public Accountants").

According To CPA Australia, they're among the world's biggest accounting bodies using a worldwide membership of over 150,000 members operating in 120 countries around the world, and more than 25,000 members working in senior leadership positions ("Around Us"). They supply instruction, training, technical assistance and advocacy. They had been also an early entrant in the Asian Market, in which their participation started in the early 1950s and aimed at strengthening and developing the accounting profession from the area. As of now nearly one-quarter of CPA Australia's members live out of Australia, with over 35,000 in Asia. They now have nineteen staffed offices around Australia, China, Hong Kong, Malaysia, Singapore, Indonesia, Vietnam, New Zealand and the united kingdom.  To be a member of the program candidates must maintain a postgraduate award that's recognized by CPA Australia, and demonstrate proficiency in the necessary knowledge areas and, in just a six year period, successfully complete the CPA Program ("Around Us"). They need to also have three decades of professional expertise in finance, or accounting for company. To provide public accounting services, CPAs should also finish CPA Australia's Public Practice program, which entails distance learning plus a residential element, and has to maintain a Public Practice Certificate in compliance with the CPA Australia's by laws.

The  Australia. They now have over 50,000 members and 12,000 pupils ("News and Updates"). To Be Able to become a part of this institute, one Must finish the Chartered Accountants Program that includes analysis of Graduate degree  In Chartered Accounting (GradDipCA) and three decades of practical experience.  But those holding non-accounting levels may also be allowed  Entrance after further requirements are satisfied. If a person does become a Chartered Accountant they need to complete a total of 120 hours  Continuing skilled Education every 3 decades.  Founding member of the Global Accounting Alliance (GAA).  Members of the  Alliance are part of this global accounting coalition of this  Planet's highest accounting figures. Chartered Accountants audits 100  Percentage of the top rated ASX-listed firms in Australia. They're  Recognized by the global accounting bodies of this top  Financial centers of the world. At November 2013, the ICAA merged Together with the New Zealand Institute of Chartered Accountants and are currently  Called"Chartered Accountants Australia and New Zealand"("News and Updates").