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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
We have been hearing a lot of expert opinions lately about businesses resiliency in Vietnam during the COVID-19 pandemic. But expert opinion can reflect subjective bias, or a hidden agenda rather than actual data, of which so far there has been little.
Grant Thornton Vietnam decided to address this situation by running a survey and conducting a diagnostic to assess business pandemic resiliency, and the factors that may or may not explain resiliency, including six key aspects of business operations – finance, supply and demand, external factors, people, and digitalisation. Some of the results were expected and consistent with our prior subjective bias, but others were surprising.
Based on self-assessment by the companies participating in the diagnostic, 56 per cent of companies experienced a huge negative impact of higher than 20 per cent of earnings, and only 19 per cent of companies experienced a modest impact lower than 10 percent. State-owned enterprises (SOEs) were more resilient than foreign-invested and private Vietnamese companies, but listed companies were the least resilient.
This was perhaps the first surprising result. Are SOEs truly more resilient, perhaps due to protections they enjoy provided by the state? Or could it be that some survey participants were not totally correct in their survey answers?
Retail and fast-moving consumer goods companies tended to be strongest in digital factors but weakest in people and financial factors; technology companies were unsurprisingly strongest in digital factors but weakest in supply and demand factors; banking and finance companies were unsurprisingly strongest in finance factors but weakest in supply factors; manufacturing companies tended to be strongest in finance but weakest in supply; and real estate and hospitality companies tended to be strong in digital factors but also weak in supply.
In summary, we can see that supply was disrupted by the pandemic. Also of note is that people factors were rarely a problem, but rather contributed to business resilience.
The diagnostic provided each survey participant with a custom report, which included a benchmark against their industry for each of the six factors.
This allowed companies to see where they stand versus their peers. The diagnostic also provided three custom recommendations to each company to improve their resiliency, based on their individual strengths and weaknesses.
A review of the recommendations revealed some insights which form part of the story of how businesses define a common practice for resiliency during the pandemic. Three recommendations – increasing online channels, protecting your business from cyberattacks, and increasing diversity of your supply chain – were most commonly made, and were applicable for most smaller companies.
This suggests that the most resilient companies have a strong online presence, have invested in IT security systems, and have a wider variety of suppliers. This data points to these conclusions, so it may be worthwhile for business owners and managers to consider.
Also recommended for some participants was to provide work-from-home (WFH) training; upgrading IT systems to improve analytics; and updating your business continuity plan. WFH – the newest, hottest term to gain traction in the COVID-19 pandemic, has actually been pushed by many consultants for quite some time already.
Not only consultants, but also the media were pushing in this direction with concepts such as “new work culture”, and “new management style”. Putting WFH into practice, however, was considered a headache by management, and was often delayed or deferred as a low priority.
Surprisingly, the diagnostic revealed that shifting to WFH was not such a big problem after all, at least not when there really was no other choice.
It might have seemed challenging at first with all the changes it brings, but the data suggests that most companies are doing just fine with their deployment of it. To update an old truism, necessity is the mother of innovation.
The results of the diagnostic should of course not be blindly believed. The sample size was not especially large, and surely there may have been some fudging of answers by the participants about their business performance. But all in all, the results provide a valuable starting point to analyse resiliency in the Vietnamese context, and to supplement anecdotes and subjective opinions.