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International Financial Reporting Advisory Services
IFRS reporting advisory serivces of Grant Thornton are carried out by our dedicated team with expertise in IFRS implementation.
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Audit Services
• Statutory audit • Review of financial statements and financial information • Agreed-upon procedures • FRAS services • Compilation of financial information • Reporting accountant • Cross-border audit • US GAAP audit
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Audit Quality
We have various methods of monitoring our system of quality control and engagement quality, including real-time involvement of coaches and national office personnel on select audit engagements, reviews of issuer audit engagements prior to archiving by someone outside of the engagement team, and internal inspections of assurance engagements and the system of quality control.
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Audit Approach
Audit Approach
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Licensing services
Licensing services
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International tax planning
Our extensive international network provides us with significant resources to meet all your expansion goals. We strive to develop commercially focused and tailored tax strategies to minimise tax exposures and maximise business efficiency.
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Expatriate tax planning
We have a broad knowledge base and skills to assist you keep your personal income taxes to a legitimate and reasonable level, while remaining compliant with legislation. We can develop a personalised package for each key employee to take maximum advantage of the exemptions and incentives available.
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Tax advisory
We will review the proposed business model and transactions and advise on tax implications and recommendations to optimize the tax opportunities under the local regulations and treaties which Vietnam entered into. Furthermore, we coordinate with our GT global tax team to provide a comprehensive tax advisory for the countries involved in the business model and transactions.
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Tax compliance services
This service is designed to assist enterprises to cope with the statutory tax declaration requirements in line with the Vietnamese tax laws as well as the frequent changes and updates in tax laws.
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Tax health check
Our Tax Health Check involves a high-level review of specific tax areas to highlight the key issues that need to be rectified in order to reduce tax risks. Through our extensive experience, we have identified key risk areas in which many enterprises are not fully compliant or often overlook potential tax planning opportunities. Our tax health check service represents a cost-effective method to proactively manage risks and reduce potential issues arising as a result of a tax inspection.
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Transfer Pricing
Transfer pricing is a pervasive tax issue among multinational companies. In Vietnam, the tax authorities require special documentation to report related party transactions. Compliance with transfer pricing regulations is an important aspect of doing business effectively in Vietnam as failure to do so may result in significant penalties.
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Tax due diligence
We conduct tax due diligence reviews of target companies to analyse their tax exposure and position in relation to acquisitions, mergers or consolidations. We are able to integrate this service with our Advisory Services department in order to offer a comprehensive, holistic due diligence review.
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Customs and international trade
Our experienced professionals can help you manage customs issues more effectively through valuation planning and making use of available free trade agreements. We also assist Clients in optimising their customs procedures by making use of potential duty exemptions and efficient import-export structures. Risk mitigation activities include customs audit defense and compliance reviews.
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M&A Transaction
We advise numerous foreign investors on efficient tax structures for their investments. Our experience allows you to consider all the options and set up a corporate structure that meets both operational and tax efficiency requirements. In short, the structure that is best for you.
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Industrial Zones – Picking A Location For Your Business
Grant Thornton Vietnam’s one-stop services are designed to provide comprehensive support to both new and current investors who are planning to expand or restructure their business in Vietnam. Our professionals have established strong working relationships with landlords, property developers and authorities at various localities. With extensive experiences in liaison with the relevant agencies, we offer assistance including negotiation on land rental rates and efficient management of licensing process. Our customized and flexible solutions can bring benefits of cost efficient location, accelerate licensing process, and optimize tax opportunities while remaining in compliance with legislation.
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Tax Audit Support
Tax audit support services provide comprehensive assistance to your business in Vietnam. Recent tax practices have shown the general tendency of launching routine tax audit on yearly basis. Tax authorities have been effectively using more sophisticated methods to identify target entities from across different industry sectors.
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Business Risk Services
Business Risk Services
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Transaction Advisory Services
Transaction Advisory Services
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Valuation
Valuation
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Business consulting services
Finance Management Advisory
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Accounting services
Accounting services
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Taxes compliance within outsourcing
Taxes compliance within outsourcing
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Payroll, personal income tax and labor compliance
Payroll, personal income tax and labor compliance
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Secondments/Loan staff services
Secondments/Loan staff services
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Compilation of the financial and non-financial information
Compilation of the financial and non-financial information
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Accounting systems review and improvement
Accounting systems review and improvement
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Initial setting-up for accounting and taxes systems
Initial setting-up for accounting and taxes systems
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Management accounting and analysis
Management accounting and analysis
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Comprehensive ERP system solution
ERP software is a tool for business operations, production management, order processing and inventory in the business process. Today, ERP software for small and medium businesses has been greatly improved to help businesses manage their business better. The article below will answer all relevant information about what ERP software is and offer the most suitable ERP solution for businesses. Let's follow along!
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Analyze Business Administration data
We believe in the value that data can bring to the success and development of every business. Our team helps design data architecture supported by tools, to support business governance and provide useful information to management.
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Financial reporting compliance solution package
Putting financial issues at the heart, this service helps ensure that financial reports for customers comply with both the requirements of Vietnamese accounting regulations and standards (VAS) as well as reporting standards. international finance (IFRS).
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Third-party ERP extensions
ERP is a long-term solution that requires long-term travel, not short-term. We understand that many businesses cannot deploy the entire ERP system at once due to many different reasons, instead businesses can deploy each part. Over time, these solutions can be expanded to accommodate improved business processes or can even link completely new processes across different departments.
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Localize, deploy and rebuild the project
Quite a few ERP projects need to be implemented according to current Vietnamese requirements and regulations, but still comply with common international business requirements. These projects need some improvements and adjustments in the right direction.
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Consulting on technology solutions
We support the selection and implementation of the most suitable solutions, ensuring business efficiency and performance. We will work closely with customers to plan, evaluate and implement the right technology investment strategies and solutions to meet the development needs of businesses.
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Offshore company establishment service
Using the offshore company model will facilitate the owner in the process of transaction and expand overseas markets, take advantage of the tax policy with many incentives and protect the value of the family enterprise's assets.
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Private Trust Advisory
The development of the economy with many modern financial instruments has brought many advantages and opportunities for the enterprises, but there are still certain potential risks in any type of business. So how to protect your asset value with an appropriate company structure while stay compliance with relevant regulations?
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Our values
We have six CLEARR values that underpin our culture and are embedded in everything we do.
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Learning & development
At Grant Thornton we believe learning and development opportunities help to unlock your potential for growth, allowing you to be at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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Contact us
Contact us
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Available positions
Experienced hires
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Available positions
Available positions
Fraud and corruption pose threat to global growth in the construction industry
Fraud and corruption in the construction industry is so commonplace that it is often accepted as a cost of doing business. So say a report published today by Grant Thornton following research carried out in Australia, Canada, India, the US and the UK. If action is not taken urgently then fraud and corruption will pose a significant threat to the reputation of the industry and, as the sector starts to bounce back from the downturn, and impact on growth.
As growth returns, the opportunities for fraud will increase and the real estate and construction industry risks being targeted as a weak link by fraudsters as levels of other crime fall. The report, Tine for a new direction: fighting fraud in Construction, argues that this does not have to be the case and makes recommendations to help companies avoid falling victim to fraud. One call is to make better use of information technology to fight fraud – an area where construction companies lag other sectors, such as finance. Vital lessons can be learned from policing, where technology has been instrumental in the reduction of crime and is increasingly used to identify, gather evidence, and even predict where crime will occur.
Clare Hartnell, Grant Thornton's global leader, Real Estate and Construction, said:
“More companies need to take their head out of the sand and recognise that fraud and corruption costs, not only in terms of profits, but also a company’s reputation. It’s a real threat to growth. Fraud is often seen as the cost of doing business. This does not have to be the case.
“Information technology and the internet offer both threats and opportunities. There are many data analytics tools that can help to identify and thereby prevent fraud.”
The report also recommends companies put aside reputational issues and speak more openly about the issue of fraud. This will foster a greater willingness by companies to prosecute the perpetrators.
Clare Hartnell says:
“Companies should consider a more open approach and prosecute perpetrators more often. This will send out a message that the construction industry is not open for fraud.”
The report highlights estimates that fraud could account for between 5% and 10% of revenues in the construction industry. If recent estimates that the global construction industry is worth US$8.6 trillion now, rising to US$15 trillion by 2025, are correct then fraud and corruption in the sector could be costing business globally almost US$1trillion now rising to US$1.5 trillion by 2025 if action is not taken.
Recent high profile cases in Australia and Canada illustrate the threat of fraud and corruption to the reputation of the real estate and construction sector. The Charbonneau Commission, investigating fraud and corruption in construction in Quebec, has been running for 18 months now and has seen allegations that up to 70% of the funding of political parties in the province is corrupt.
In Australia, one of the country’s largest construction companies, Leighton Holdings, has reportedly called in the police themselves after discovering evidence of corrupt payments on billion dollar construction projects in Iraq and Indonesia.
Notes to editors
Time for a new direction: fighting fraud in Real Estate and Construction is a report produced by Grant Thornton.
The Chartered Institute of Loss Adjusters produced a report in 2011 estimating that fraud in construction in the UK amounted to 10% of revenue, totalling £6.5 billion, or £40,000 per company. In 2012 the Association of Certified Fraud Examiners estimated that globally 5% of construction revenue is lost to fraud.
In July 2013 Global Construction Perspectives and Oxford Economics published a report entitled Global Construction 2025 in which they estimated that in 2012 the global construction market was worth US$8,663 billion in 2012 and with projected growth of 4.3% a year would rise to a value of US$15,030 billion by 2025.
About Grant Thornton
Grant Thornton is one of the world's leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to find solutions. More than 35,000 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.
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