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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.
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Translation of legal documents
The process of consulting, carrying out legal procedures, it is necessary to translate documents from the foreign investor’s language into Vietnam or vice versa.
Translation of legal documents is not similar to normal translation. Therefore, La Défense provides professional translation services for many different languages exactly.
Moreover, documents of foreign customers will be supported by La Dé fense with procedures other than translation such as: consular legalization, notarization, authentication…
Reasonable cost, quick time, work is promoted quickly, convenient for the transaction process of investors.
https://investtovietnam.com/translation-of-legal-documents/
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Measuring purely by confirmed kills, the worst mass murderer ever executed by the United States was the white supremacist terrorist Timothy McVeigh. On April 19, 1995, McVeigh detonated a massive bomb at the Murrah federal building in Oklahoma City, killing 168 people, including 19 children. The government killed McVeigh by lethal injection in June 2001. Whatever hesitation a state execution provokes, even over a man such as McVeigh — necessary questions about the legitimacy of killing even an unrepentant soldier of white supremacy — his death provided a measure of closure to the mother of one of his victims. “It’s a period at the end of a sentence,” said Kathleen Treanor, whose 4-year old McVeigh killed.
McVeigh, who in his own psychotic way thought he was saving America, never remotely killed on the scale of Kissinger, the most revered American grand strategist of the second half of the 20th century.
The Yale University historian Greg Grandin, author of the biography Kissinger’s Shadow, estimates that Kissinger’s actions from 1969 through 1976, a period of eight brief years when Kissinger made Richard Nixon’s and then Gerald Ford’s foreign policy as national security adviser and secretary of state, meant the end of between three and four million people. That includes “crimes of commission,” he explained, as in Cambodia and Chile, and omission, like greenlighting Indonesia’s bloodshed in East Timor; Pakistan’s bloodshed in Bangladesh; and the inauguration of an American tradition of using and then abandoning the Kurds.
No infamy will find Kissinger on a day like today. Instead, in a demonstration of why he was able to kill so many people and get away with it, the day of his passage will be a solemn one in Congress and — shamefully, since Kissinger had reporters like CBS’ Marvin Kalb and The New York Times’ Hendrick Smith wiretapped — newsrooms. Kissinger, a refugee from the Nazis who became a pedigreed member of the “Eastern Establishment” Nixon hated, was a practitioner of American greatness, and so the press lionized him as the cold-blooded genius who restored America’s prestige from the agony of Vietnam.
Not once in the half-century that followed Kissinger’s departure from power did the millions the United States killed matter for his reputation, except to confirm a ruthlessness that pundits occasionally find thrilling. America, like every empire, champions its state murderers. The only time I was ever in the same room as Henry Kissinger was at a 2015 national-security conference at West Point. He was surrounded by fawning Army officers and ex-officials basking in the presence of a statesman.
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Every single person who died in Vietnam between autumn 1968 and the Fall of Saigon – and all who died in Laos, and Cambodia, where Nixon and Kissinger secretly expanded the war within months of taking office; as well as all who died in the aftermath, like the Cambodian genocide their destabilization set into motion – died because of Henry Kissinger. We will never know what might have been, the question Kissinger’s apologists, and those in the U.S. foreign-policy elite who have stood in or who imagine themselves standing in Kissinger’s shoes, insist upon when explaining away his crimes. We can only know what actually happened. What actually happened was that Kissinger materially sabotaged the only chance for an end to the war in 1968 as a hedged bet to ensure he would achieve power in Nixon’s administration or Humphrey’s. A true tally will probably never be known of everyone who died so Kissinger could be national security adviser.
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long read but important, the memes are funny but i don’t know how much everyone knows about WHY. touches on cambodia/vietnam, bangladesh, chile, and more. i definitely learned some things
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I am of a certain age. This is in my living memory.
Every single person who died in Vietnam between autumn 1968 and the Fall of Saigon — and all who died in Laos and Cambodia, where Nixon and Kissinger secretly expanded the war within months of taking office, as well as all who died in the aftermath, like the Cambodian genocide their destabilization set into motion — died because of Henry Kissinger.
<snip>
What actually happened was that Kissinger materially sabotaged the only chance for an end to the war in 1968 as a hedged bet to ensure he would achieve power in Nixon’s administration or Humphrey’s. A true tally will probably never be known of everyone who died so Kissinger could be national security adviser.
It's a long article. Read it for a history lesson. Read it to better understand how we got to where we are today.
#Fuck Henry Kissinger#Burn in hell#If you can't say anything good about the dead...#He's dead. GOOD.
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Rolling Stone goes IN on Kissinger
Their coverage is strikingly different from almost all of the rest of the US and most western media.
Whoever wrote the Daily Mail eulogy linked in the second Rolling Stone article is on the shiny shiny drugs. Also, the recommended tags that popped up for this were ... amusing, let's say.
Presented without further comment.
GOOD RIDDANCE Henry Kissinger, War Criminal Beloved by America’s Ruling Class, Finally Dies (rollingstone.com) The infamy of Nixon's foreign-policy architect sits, eternally, beside that of history's worst mass murderers. A deeper shame attaches to the country that celebrates him BY SPENCER ACKERMAN NOVEMBER 29, 2023
Henry Kissinger died on Wednesday at his home in Connecticut, his consulting firm said in a statement. The notorious war criminal was 100.
Measuring purely by confirmed kills, the worst mass murderer ever executed by the United States was the white-supremacist terrorist Timothy McVeigh. On April 19, 1995, McVeigh detonated a massive bomb at the Murrah federal building in Oklahoma City, killing 168 people, including 19 children. The government killed McVeigh by lethal injection in June 2001. [...]
McVeigh, who in his own psychotic way thought he was saving America, never remotely killed on the scale of Kissinger, the most revered American grand strategist of the second half of the 20th century.
The Yale University historian Greg Grandin, author of the biography Kissinger’s Shadow, estimates that Kissinger’s actions from 1969 through 1976, a period of eight brief years when Kissinger made Richard Nixon’s and then Gerald Ford’s foreign policy as national security adviser and secretary of state, meant the end of between three and four million people. That includes “crimes of commission,” he explained, as in Cambodia and Chile, and omission, like greenlighting Indonesia’s bloodshed in East Timor; Pakistan’s bloodshed in Bangladesh; and the inauguration of an American tradition of using and then abandoning the Kurds....
ZERO ACCOUNTABILITY Media, Conservatives Team Up to Lionize War Criminal Henry Kissinger The notorious U.S. diplomat responsible for millions of deaths died on Wednesday at the age of 100 BY CHARISMA MADARANG NOVEMBER 30, 2023
Henry Kissinger, a national security adviser and former secretary of state under two presidents, has evaded accountability, even after death. On Wednesday, the notorious war criminal responsible for the deaths of millions, died at the age of 100.
During his lifetime, Kissinger prolonged the Vietnam war and expanded it to Cambodia and Laos; green-lit Indonesia’s bloodshed in East Timor, Pakistan’s bloodshed in Bangladesh, and supported military coups in Chile and Argentina. According to Yale University historian Greg Grandin, author of the biography Kissinger’s Shadow, the estimated death toll for foreign policy policies tied to Kissinger is between 3 million and 4 million.
Yet the headlines following his death have been astonishingly void of accountability, but not surprising. Publications from both the left and right lionized the war criminal. The Wall Street Journal credited Kissinger as the man who “Helped Forge U.S. Foreign Policy During Vietnam and Cold Wars,” while BBC called him the “Divisive diplomat who towered over world affairs.” In a loaded headline, Daily Mail lauded the him as a “Nobel Prize winner who stared down the Soviets,” while also labeling Kissinger as a “VERY unlikely sex symbol.” [...]
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Sorry but who is this henry kissinger dude and why is he a war criminal? I can’t find info about him having committed war crimes anywhere
Uh...what search terms are you using? Because...
^Those are just the first three results that came up when I searched "Henry Kissinger war criminal". It's what did during the Vietnam war, including bombing Cambodia.
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Headed Straight to the Worst Part of Hell! Criminal Boak Bollocks Henry Kissinger, Secretary of State to Richard Nixon, Dead at 100. Stay, Rest, Rot and Burn 🔥 in Hell Forever.
A Republican party giant and Nobel peace prize winner, the former national security adviser was a key architect of US foreign policy
— Martin Pengelly in New York | The Guardian USA | November 29, 2023
Henry Kissinger after receiving an award at the Pentagon in 2016. Photograph: Brendan Smialowski/AFP/Getty Images
The War Criminal Henry Kissinger, who was national security adviser and secretary of state to Richard Nixon before becoming an eminence grise of world affairs, has died. He was 100.
His consulting firm Kissinger Associates announced his passing in a statement on Wednesday evening, but did not disclose a cause of death.
A giant of the Republican party, Kissinger remained influential until the end of his life, in large part thanks to his founding in 1982 of Kissinger Associates, a geopolitical consulting firm based in New York City, and the authorship of several books on international affairs.
He even made an appearance in Siege, Michael Wolff’s Trump exposé which was published in 2019. According to Wolff, Kissinger regularly advised Jared Kushner. At one point, the book said, Donald Trump’s son-in-law and senior White House adviser even suggested that Kissinger, well into his 90s, should return as secretary of state.
Wolff also quoted Kissinger as being witheringly critical of a Trump foreign policy “based on a single unstable individual’s reaction to perceptions of slights or flattery”.
Kissinger was a Harvard academic before becoming national security adviser when Nixon won the White House in 1968. Working closely with the president, he was influential in momentous decisions regarding the Vietnam war including the secret bombing of Cambodia in 1969 and 1970. That was part of what Nixon called the “madman theory”, an attempt to make North Vietnam believe the US president would do absolutely anything to end the war.
As secretary of state, Kissinger did achieve peace in Vietnam, although not before initiating a heavy bombing campaign at Christmas 1972, while talks continued.
He survived Nixon’s downfall in the Watergate scandal and served Gerald Ford, leaving government after Jimmy Carter’s election win in 1976. Kissinger’s policy towards the Soviet Union was not confrontational enough for the Reagan administration, precluding any thought of a 1980s comeback.
Famously, the Singer-satirist Tom Lehrer Responded: “Political Satire Became Obsolete When Criminal Henry Kissinger Was Awarded the Nobel Peace Prize.”
On the political and intellectual right and left, Kissinger’s legacy differs.
On the right, he is seen as a brilliant statesman, a master diplomat, an exponent of power politics deployed to the benefit of America, the country to which his family fled on leaving Germany in 1938.
On the left, hostility burns over his record on Chile, where the CIA instigated the overthrow of Salvatore Allende; on Pakistan, where he and Nixon turned a blind eye to the slaughter of hundreds of thousands; on the Middle East; on Cyprus; on East Timor and more.
In the early 2000s, Kissinger supported the administration of George W Bush in its invasion of Iraq.
Another supporter of that war, the Journalist Christopher Hitchens, famously wrote that Kissinger should be tried for war crimes.
In fact, for negotiating the Paris treaty which ended the Vietnam war, Kissinger and Le Duc Tho were awarded a shared Nobel prize, although the North Vietnamese negotiator refused to accept the honour.
Famously, the Singer-satirist Tom Lehrer responded: “Political Satire Became Obsolete When Henry Kissinger Was Awarded the Nobel Peace Prize.”
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How to start a business in Vietnam as a foreign investor?
Vietnam is one of the fastest-growing economies in Southeast Asia, with a young and dynamic population, a favorable business environment, and a strategic location. Additionally, Vietnam's government has been increasingly enacting more preferential policies to facilitate foreign investors' entry into the country to do business in Vietnam. If you are interested in starting a business in Vietnam, here are some steps you need to follow:
Step 1: Choose a business entity type
There are different types of business entities in Vietnam, such as limited liability company joint-stock company partnership, branch office, representative office, etc. Each type has its own advantages and disadvantages, depending on your business goals, capital, and legal requirements. You should consult a local law firm in Vietnam to help you decide which entity type suits your needs best.
Step 2: Register your business in Vietnam
After chosing your business entity type, you need to register your business with the relevant authorities in Vietnam. This involves submitting various documents, such as: business name, address, charter capital, shareholders, directors, tax code, etc. Depending on the type and scope of your business, you may also need to obtain additional licenses or permits from other agencies, such as the Ministry of Industry and Trade, the Ministry of Health, the Ministry of Planning and Investment, etc.
Step 3: Open a bank account in Vietnam
You need to open company’s bank account after registering your business. You will need to provide your business registration certificate, tax code certificate, and other documents to the bank. You can choose from various local or foreign banks operating in Vietnam, depending on your preferences and needs.
Step 4: Hire staff and set up your office in Vietnam
The next step is to hire staff and set up your office in Vietnam. You will need to comply with the labor laws and regulations in Vietnam, such as: minimum wage, social insurance, health insurance, working hours, etc. You will also need to find a suitable location for your office and equip it with the necessary facilities and equipment.
Step 5: Start your operations and marketing
You will need to develop a business plan and strategy that suits the local market and culture in Vietnam. You will also need to build relationships with customers, suppliers, partners, and authorities in Vietnam. You can use various channels and methods to promote your products or services, such as: social media,online platforms, events, etc.
Starting a business in Vietnam can be challenging but rewarding. By following these steps and seeking professional advice from the law firm in Vietnam when needed, you can successfully establish and grow your business in Vietnam.
ANT Lawyers is the reliable law firm in Vietnam that will always contact the authorities to obtain legal updates on issues pertaining to do business in Vietnam.
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How to Establish Travel Services Business in Vietnam?
How to Establish Travel Services Business in Vietnam?
Because passenger transportation is one of the investment areas subject to restrictions for foreign investors in Vietnam, a foreign investor can only form a joint venture with a travel agency in Vietnam to establish a travel services business there.
It is impossible to deny the significant impact that information technology has had on the travel services industry. The utilization of booking reservation framework application on cell phone and web are inescapable that make travel has never been more straightforward. The travel services market would be interesting for a foreign investor to explore. Nonetheless, 100 % foreign owned company is not allowed to set-up travel services business in Vietnam. Due to the conditionality of this investment area, a Vietnam-based law firm should be consulted to ensure compliance with local regulations.
The application process and documents requirements to establish travel business in Vietnam are briefly
1.Required documents to establish travel business in Vietnam
-Application for the International Travel Business License (form);
-Certificate of business registration (copy – certified)
-Business plan for the international travel agency;
-Tour schedule
-Proof of at least 4 years of experience in international travel business operations
-Certified copies of the tourist guides’ cards whereby at least 3 international tourist guides are required
-Confirmation of bank deposit (as per regulations);
-Proof of offi
2. Business License Application Procedure to establish business in Vietnam
-Submitting the required documents to the appropriate authority (the province or city's Department of Culture, Sports, and Tourism).
-Within 10 working days of receiving a valid application, the province or city's Department of Tourism completes the appraisal records and sends a written request along with the agency's records to Vietnam's Ministry of Culture, Sports, and Tourism. At the point when cases are not qualified for the proposed grant to the state organizations, the commonplace the travel industry office will refer to the particular purposes behind refusal.
Within ten working days of receiving the file and written request from the state agency of tourism in the province, the international travel business must be reviewed and licensed by the state management agency of tourism (VNAT – Ministry of Culture, Sports, and Tourism). In the event of refusal, the service will express the particular motivations to the state and commonplace the travel industry specialists.
3. Number of records
-Submission to the Department of Culture, Sports and Tourism: 01
– Tourism Authority Filed in: 01
ANT Lawyers – a law firm in Vietnam will always follow up with authorities for legal update on matters relevant to investment registration or business registering in Vietnam.
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When Arbitration Lawyers in Vietnam Could Settle a Dispute?
When Arbitration Lawyers in Vietnam Could Settle a Dispute?
Under the Law on Business Mediation powerful Jan first, 2011, and other directions, on a basic level, discretion must be utilized in questions among parties that emerge from business exercises, debates among parties something like one of whom conducts business exercises, and different debates among parties which are specified by regulation to be settled by intervention in Vietnam. From drafting the arbitration agreement to resolving the arising dispute, an arbitration lawyers in Vietnam should be consulted.
Arbitral tribunals are entitled to resolve the disputes mentioned above if the concerned parties have a valid arbitration agreement agreed, before or after the dispute arises.
At the point when the court is mentioned to determine one of the debates of the above sorts which a legitimate discretion understanding exists, the court will look at records encased with the request to decide and in the event that the court observes that the question is under a mediation understanding and such assertion understanding is substantial the court will give a choice to end the settlement, return the request and reports.
The question will be dealt with by the court however it is under a discretion arrangement, except if generally concurred by the gatherings concerned or endorsed by regulation: the court gives a choice to dissolve the arbitral honor or the choice made by the arbitral council; or on the other hand there is a choice to suspend the arbitral council or mediation focus from settling questions; or on the other hand the mediation arrangement isn't suitable.
ANT Lawyers, a Vietnam-based law firm, will be available to help clients resolve disputes outside of court, in court, or through arbitration lawyers in Vietnam.
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How to Determine Interest Rate for Late Payment Obligations in Commercial Transaction?
The most important obligation of the parties to a commercial contract is to deliver or provide services and pay in full and on time as agreed. However, in reality, there are times that one party or the parties fail to perform their payment obligations, causing damages to the other party. In particular, in the case of a breach of the payment obligation, the aggrieved party may request the person having caused damage to pay late payment obligations interest. Potential dispute on this matter might arise between parties.
How to Determine Interest Rate for Late Payment Obligations in Commercial Transaction?
Article 306 of the Commercial Law 2005 provides for the application of the interest rate due to the delay of payment as follows: Where a contract-breaching party delays making payment for goods or payment of service charges and other reasonable fees, the aggrieved party may claim an interest on such delayed payment at the average interest rate applicable to overdue debts in the market at the time of payment for the delayed period, unless otherwise agreed or provided for by law.
The interest rate for late payment of obligations in commercial business is applied according to the average interest rate on overdue debts in the market at the time of payment corresponding to the late payment period, unless otherwise agreed or otherwise provided by law.
However, the Commercial Law 2005 at that time did not have a specific regulation on the average interest rate of overdue debts on the market. The Resolution No. 01/2019/NQ-HDTP has detailed instructions on this interest rate. When determining the interest on late payments, the Court shall determine the interest rate on late payments on the basis of average interest rates on overdue debts announced by at least 03 (three) commercial banks (such as Vietcombank, VietinBank, Agribank, etc.) whose headquarters, branch or transaction office is located in the same province or central-affiliated city where the headquarters of the Court in charge of the case is located at the payment date (the date of first-instance trial), except otherwise agreed upon by the parties or regulated by laws.
In case of late payment liabilities defined in a contract which includes the parties’ agreement on interest payment, the judgment debtor is liable to pay interest on the outstanding judgment debt at the agreed interest rate which must be conformable with applicable laws; if the agreed interest rate is not available, the Court shall decide application of the interest rate prescribed in Clause 2 Article 468 of the 2015 Civil Code. In case interests are charged on amounts payable to the state budget as regulated by laws, the judgment debtor is liable to pay an interest on the judgment debt arrears calculated at the interest rate prescribed in Article 357 or Article 468 of the 2015 Civil Code, unless otherwise prescribed by laws.
In order to protect the best interest of parties, it is important to consult with dispute lawyers in Vietnam for advice.
ANT Lawyers - English speaking law firm in Vietnam, recognized by Legal500, IFLR1000. We are an exclusive Vietnam member of Prea Legal, the global law firm network covering more than 150 jurisdictions. The firm provides a range of legal services to multinational and domestic clients.
Source ANTLawyers: https://antlawyers.vn/library/how-to-determine-interest-rate-for-late-payment-obligations-in-commercial-transaction.html
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HR Consulting Company in Vietnam: Unlocking Talent and Transforming Businesses
In the dynamic business landscape of Vietnam, companies are increasingly recognizing the importance of effective human resources management. An HR consulting company can bridge the gap between organizational needs and workforce potential, enabling businesses to thrive. From talent acquisition to organizational development, HR consulting firms in Vietnam play a pivotal role in driving growth and innovation.
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About Civil Outsourcing
Civil Outsourcing is a premier Engineering Outsourcing Company headquartered in Ho Chi Minh City, Vietnam’s largest economic hub. With a proven track record of delivering 10,000+ successful projects and backed by a team of over 50 skilled engineers, we specialize in AEC outsourcing services, including Civil Engineering Outsourcing, Outsource Land Development Design, Land Survey Drafting, Civil 3D Drafting Services, and CAD Drafting Services.
Our mission is to provide tailored, high-quality solutions to Civil Engineering firms, Land Surveying professionals, Engineering Consultants, and Construction Contractors from English-speaking countries such as the USA, Australia, UK, Canada, Ireland, and Scotland. Through long-term cooperation, we integrate seamlessly into your operations, acting as an extension of your team. By partnering with us, you gain a strategic edge over competitors with access to cost-effective, high-precision solutions delivered with unmatched speed and reliability.
CONTACT:
Address: Pax Sky Building, 26 Ung Van Khiem Street, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Hotline: +84906013469
Website: https://civiloutsourcing.com/
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