In the context of a continuously evolving legal system for accounting and auditing to align with international practices and state management requirements, Vietnamese businesses are facing considerable compliance pressure. Just in the period of 2025-2026 alone, a series of new regulations have been issued:
- Law No. 56/2024/QH15 Amendments and additions to the Law on Accounting and the Law on Independent Auditing (effective from January 1, 2025);
- Circular 99/2025/TT-BTC This replaces Circular 200/2014/TT-BTC on the accounting regime for enterprises (effective from January 1, 2026);
- Decree 132/2026/ND-CP Amendments to regulations on administrative penalties for violations in the field of accounting and independent auditing (effective from May 21, 2026).
These rapid changes make it difficult for many business owners, especially small and medium-sized enterprises, to keep up with the latest updates and ensure that their accounting records and financial reports are always compliant with regulations.
Therefore, choosing a professional and reputable accounting and auditing service provider like MAN – Master Accountant Network is no longer an optional solution but has become an essential need, helping businesses save internal resources while ensuring legal safety throughout their operations. This article will provide a comprehensive overview of accounting and auditing services: concept, legal basis, mandatory application, benefits, scope of work, criteria for selecting a service provider, and practical implementation process.
What are accounting and auditing services?
The concept of accounting services according to the Accounting Law 2015 (amended and supplemented in 2024)
According to the Accounting Law No. 88/2015/QH13, currently in effect and amended and supplemented by Law No. 56/2024/QH15, accounting service business is understood as the provision of accounting services, chief accountant services, financial statement preparation, accounting consulting, and other accounting-related tasks by qualified individuals and organizations as agreed upon in a service contract. Units and individuals wishing to conduct accounting services must meet capital requirements, possess qualified personnel, and obtain a Certificate of Eligibility to Conduct Accounting Services as stipulated in Decree 174/2016/ND-CP and related amendments. This is a mandatory legal framework that any entity providing accounting and auditing services must strictly adhere to.
The concept of independent auditing according to the Independent Auditing Law 2011 (amended and supplemented in 2024)
Parallel to accounting servicesIndependent auditing is an activity carried out by practicing auditors, auditing firms, or branches of foreign auditing firms in Vietnam, aimed at examining and providing independent opinions on financial statements and other matters as stipulated in the audit contract. According to the Law on Independent Auditing No. 67/2011/QH12 (amended by Law No. 56/2024/QH15), the core purpose of this activity is to contribute to the transparency of economic and financial information of the audited entity, to create a healthy investment environment, and to support the prevention and fight against corruption and waste, while enhancing the effectiveness of state management in the economic and financial sectors. Auditors, when practicing, must comply with the law, auditing standards, and the professional ethical standards of Vietnamese accounting and auditing.
Distinguishing between accounting services and auditing services within a comprehensive service package.
Many businesses often confuse these two concepts. Essentially, accounting services focus on recording, processing, and presenting daily financial data, while auditing services are independent checks that provide objective opinions on the accuracy and fairness of financial statements prepared by accountants. Combining both into a comprehensive accounting and auditing service package provides a closed loop system from bookkeeping and report preparation to independent verification and confirmation, minimizing the risk of errors and increasing the reliability of publicly disclosed financial information.
Legal basis governing accounting and auditing services in Vietnam 2026
Understanding the legal framework is a prerequisite for businesses to choose the right and reputable accounting and auditing service provider, avoiding cooperation with unqualified firms.
Accounting Law No. 88/2015/QH13 and Law No. 56/2024/QH15 amending and supplementing
The 2015 Accounting Law is the fundamental document regulating the content of accounting work, the organization of the accounting system, accounting professionals, accounting service business activities, state management of accounting, and professional accounting organizations. Law No. 56/2024/QH15, passed by the National Assembly on November 29, 2024, and effective from January 1, 2025, amended and supplemented many laws related to the finance and accounting field, including the Accounting Law and the Independent Auditing Law, aiming to enhance transparency, tighten professional practice conditions, and improve the quality of accounting and auditing services in the market. On March 31, 2026, the National Assembly Office published Consolidated Document No. 41/VBHN-VPQH, consolidating the entire content of the Accounting Law after all amendments, facilitating access and application for businesses and consulting firms.
The Independent Auditing Law and amendments related to mandatory auditing.
One of the notable points of Law No. 56/2024/QH15 is the addition of large-scale enterprises to the list of entities subject to mandatory annual financial statement audits as stipulated by the Government. This adjustment closely follows the direction set forth in Decision No. 633/QD-TTg dated May 23, 2022, of the Prime Minister on approving the Accounting and Auditing Strategy until 2030, which aims to ensure that 100% of large-scale enterprises and units have their financial statements audited, regardless of their type of activity or ownership structure.
Circular 99/2025/TT-BTC: The latest accounting regulations for enterprises.
From January 1st, 2026, Circular 99/2025/TT-BTC officially replaces Circular 200/2014/TT-BTC, redefining the accounting chart of accounts, financial statement forms, and accounting methods applicable to businesses in all sectors and economic components. This change directly impacts all accounting and reporting activities of businesses, requiring accounting staff, whether internal or external, to update their knowledge promptly to avoid errors when transitioning to the new accounting system.
Decree 132/2026/ND-CP: Penalties for administrative violations in the field of accounting and independent auditing.
Decree 132/2026/ND-CP, amending Decree 41/2018/ND-CP and effective from May 21, 2026, specifies violations and corresponding penalties in the field of accounting and independent auditing, including the act of hiring individuals or organizations that do not meet the professional qualifications to provide accounting and auditing services to one's entity. This is an important reminder for businesses to be cautious when choosing partners to provide accounting and auditing services, as the ultimate legal responsibility still rests with the business using the service.
Which businesses are required to use independent accounting and auditing services?
The group of entities subject to mandatory auditing under current regulations.
According to the Law on Independent Auditing and its implementing regulations, the following groups of entities are required to have their annual financial statements audited:
- Foreign-invested enterprises;
- Credit institutions are established and operate in accordance with the law on credit institutions, including branches of foreign banks in Vietnam;
- Financial institutions, insurance companies, and insurance brokerage firms;
- Public companies, securities issuers, and securities trading organizations.
Furthermore, according to the supplementary guidelines in Law No. 56/2024/QH15, large-scale enterprises, as defined by the Government, are also subject to mandatory auditing, aiming to realize the goal of financial information transparency as set out in the Accounting and Auditing Strategy until 2030.
Legal consequences of failing to conduct mandatory audits or hiring unqualified firms.
If a business is required to undergo an audit but fails to do so, or hires an unqualified entity or individual to provide accounting and auditing services, the business may be subject to administrative penalties under Decree 132/2026/ND-CP, with fines corresponding to each specific violation. Furthermore, unaudited financial statements can negatively impact a business's reputation when dealing with banks, partners, investors, or participating in bidding and fundraising activities. This is why businesses should proactively seek and utilize accounting and auditing services early on, rather than waiting until mandatory requirements arise.
Benefits of using a full-service accounting and auditing service.
Ensure compliance with accounting regulations, accounting standards, and auditing standards.
When hire accounting services From professional units, businesses will receive continuous updates on changes in accounting regulations (such as Circular 99/2025/TT-BTC), Vietnamese Accounting Standards (VAS), and Vietnamese Auditing Standards (VSA), avoiding the situation of applying regulations incorrectly due to lack of information or delays in updating new documents.
Minimize the risk of administrative penalties and tax arrears.
MAN's team of highly qualified accountants and auditors will help businesses review, detect, and promptly address errors in accounting and tax declarations before tax authorities conduct inspections or audits. This minimizes the risk of administrative penalties under Decree 132/2026/ND-CP or tax arrears and late payment penalties under tax management laws.
Cost savings in operating expenses compared to maintaining an in-house accounting system.
Compared to recruiting, training, and maintaining a full in-house accounting department (accountants, chief accountant, insurance costs, software, regular knowledge update training), outsourcing comprehensive accounting and auditing services often benefits businesses, especially small and medium-sized enterprises (SMEs), significantly optimizing operating costs while ensuring equivalent or higher professional quality.
Transparent financial reporting enhances credibility with banks and investors.
Financial statements prepared by a professional accounting and auditing firm, with independent audit confirmation, will have higher reliability when a business needs to borrow capital from banks, raise investment capital, participate in bidding processes, or expand business cooperation with foreign partners.
Job responsibilities in professional accounting and auditing services at MAN
Accounting services: Bookkeeping, financial statement preparation, tax filing and settlement.
The accounting work included in an accounting and auditing service package typically comprises:
- Collect, process, and record accounting documents generated on a monthly basis;
- Accounting must be carried out in accordance with the current accounting regulations (Circular 99/2025/TT-BTC);
- Prepare annual financial statements and management reports as required;
- Filing periodic value-added tax returns, corporate income tax returns, and personal income tax returns;
- Assisting with year-end tax settlements and working with tax authorities when audits or inspections are required.
Auditing services: Financial statement audit, compliance audit, internal audit
In the auditing section, CPA-certified auditors from the MAN – Master Accountant Network will conduct audits of financial statements according to Vietnamese auditing standards to provide an independent opinion on the fairness and accuracy of the reports; compliance audits to assess the level of compliance with laws and internal regulations of the enterprise; and internal audits according to Decree 05/2019/ND-CP to support the enterprise in controlling risks within its own operational processes.
Additional consulting services include: tax consulting, pre-audit bookkeeping review.
In addition to our two main areas of work, we also provide in-depth tax consulting services, accounting book restructuring consulting, and pre-audit review to help businesses prepare optimally before the official audit, minimizing the occurrence of large adjusting entries that could affect previously published business results.
Reference price list for accounting and auditing services.
The fees for accounting and auditing services in the current market are quite diverse, depending on the size of the business, the number of invoices and documents generated monthly, the industry, and the specific scope of work. Below is a competitive price list for reference, helping businesses estimate costs before contacting us for a detailed quote:
| Service Group | Applicable objects | Reference price |
| Full-service accounting: For newly established businesses with no invoices yet. | Micro-enterprises, newly established businesses | 500,000 – 1,000,000 VND/month |
| Full-service accounting: Under 20 invoices/month | Small businesses, engaged in simple trade or service activities. | 1,000,000 – 2,000,000 VND/month |
| Full-service accounting: 20-50 invoices/month | Medium-sized businesses with average business activity. | 2,000,000 – 4,000,000 VND/month |
| Full-service accounting: For businesses with over 50 invoices per month, or manufacturing, construction, or foreign-invested enterprises. | Large-scale businesses with complex operations. | On-site survey and separate quotation. |
| Financial statement auditing services | Businesses subject to mandatory audits or those requiring voluntary audits. | 10,000,000 – 30,000,000 VND/year (depending on size, revenue and total assets) |
| Pre-audit review and assessment services | The company is preparing for a formal audit. | 5,000,000 – 15,000,000 VND/package |
| In-depth tax consulting and tax settlement services | Businesses need to finalize their year-end accounts or work with the tax authorities. | Contact for agreement |
Note: The above price list is for reference only, reflecting the current market average, and is not an official quotation. Actual fees may vary depending on the complexity of the documentation, the current state of accounting records, the specific business sector (real estate, construction, import/export, etc.), and the specific requirements of each company. To receive the most accurate quote for accounting and auditing services tailored to your business size, please contact MAN – Master Accountant Network directly for a free survey.
Criteria for selecting a reputable accounting and auditing service provider.
Possesses a Certificate of Eligibility to conduct accounting and auditing services.
This is a mandatory requirement under the Accounting Law and the Independent Auditing Law. Businesses should request that service providers present a valid Business Eligibility Certificate, avoiding cooperation with units operating illegally or without proper business registration. According to Decree 132/2026/ND-CP, even the business hiring the service can be penalized if it hires a unit that does not meet the necessary business requirements.
Our team of accountants and auditors hold valid professional licenses.
The quality of accounting and auditing services largely depends on the competence of the personnel directly performing them. Businesses should find out about the number of practicing auditors and certified accountants officially working at the company, as well as the frequency with which they participate in annual professional development training as required by regulations.
Professional liability insurance is available under the new regulations.
From September 1st, 2026, according to Circular 76/2026/TT-BTC guiding the purchase of professional liability insurance for practicing auditors, auditing firms must fulfill their obligation to purchase insurance to protect the rights of clients in case of professional errors. This is an important criterion that will help businesses feel more secure when choosing partners to provide accounting and auditing services in the coming period.
Practical experience relevant to the industry and business size.
Each business sector (manufacturing, trade, construction, real estate, foreign-invested enterprises, etc.) has its own specific accounting and auditing characteristics. Businesses should prioritize choosing accounting and auditing service providers with practical experience in their specific field to ensure that the consulting and data processing accurately reflect actual events.
Accounting and auditing service delivery process
To ensure transparency and help businesses proactively monitor work progress, MAN has developed a systematic and clear implementation process with specific steps as follows:
Step 1: Survey and assess the current state of accounting records.
Before signing a contract, the accounting and auditing service provider will conduct a preliminary survey of the company's current books, documents, and accounting system to determine the scope of work, complexity, and appropriate pricing.
Step 2: Sign the contract and agree on the scope of work.
The two parties sign a service contract, which clearly specifies the scope of work (accounting, auditing, or both), the timeframe, the responsibilities of each party, the fee, and terms regarding the confidentiality of the company's financial information.
Step 3: Implement accounting and auditing practices according to current standards.
The professional team collects documents, performs accounting, and prepares financial reports in accordance with Circular 99/2025/TT-BTC (for the accounting part), or carries out audit procedures according to Vietnamese auditing standards (for the auditing part), ensuring full compliance with current legal regulations throughout the process.
Step 4: Report handover and post-service consultation.
Upon completion, MAN will deliver the financial statements and audit reports (including auditor's opinions if applicable) to the enterprise, while also advising on outstanding issues, proposing solutions to improve the internal control system, and assisting in explaining matters to state management agencies when necessary.
Conclude
Given the continuous changes in the accounting and auditing legal system during the 2025-2026 period, proactively collaborating with professional accounting and auditing service providers is the solution to help businesses comply with legal regulations while optimizing operating costs and focusing resources on core business activities. From bookkeeping and financial statement preparation to tax declarations, independent audits, and compliance audits, all tasks need to be performed by a team with expertise and qualifications in accordance with the current Accounting Law and Independent Auditing Law.
If your business is looking for a reliable accounting and auditing service partner with a team of experienced accountants and auditors who are always up-to-date with the latest legal regulations, then consider us. contact Contact us today for a free survey and a detailed quote tailored to your industry and business scale.
Contact information MAN – Master Accountant Network
- Address: No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City
- Mobile/Zalo: 0903 963 163 – 0903 428 622
- E-mail: man@man.net.vn
- Google Business Profile: View MAN – Master Accountant Network's Google Business Profile
- LinkedIn Founder: View expert Le Hoang Tuyen's LinkedIn profile.
Responsible for production and professional content review by: Mr. Le Hoang Tuyen – Founder & CEO of MAN – Master Accountant NetworkHe is a CPA Vietnam auditor with over 30 years of in-depth experience in accounting, auditing, taxation, and corporate legal consulting.
Frequently Asked Questions about Accounting and Auditing Services
Not all businesses are required to have their financial statements audited. However, using accounting services is still necessary to ensure compliance with reporting and accounting obligations under the Accounting Law, even if the business is not subject to mandatory auditing.
This depends on whether the business falls under the category of entities required to undergo auditing according to the Independent Auditing Law (for example, businesses with foreign investment capital are usually required to be audited from their first year of operation).
Yes. According to the Accounting Law, businesses must organize accounting work from the moment they are granted a business registration certificate, even if they have not yet generated revenue, and must still declare taxes as required.
MAN provides reputable accounting and auditing services, always including confidentiality clauses regarding clients' financial information in service contracts. Furthermore, practicing auditors and accountants must adhere to professional accounting and auditing ethical standards as stipulated by law.
This transition is suitable when businesses face difficulties in keeping up with constantly changing legal regulations (such as Circular 99/2025/TT-BTC, new penalty decrees), want to optimize personnel costs, or are preparing to enter a phase subject to mandatory auditing. Businesses can outsource in parallel, not necessarily completely eliminating their internal accounting department, but only transferring specialized tasks to a service provider. Are accounting and auditing services mandatory for small businesses?
Do newly established businesses need to have their first year's financial statements audited?
Do newly established businesses that haven't generated any revenue yet need to use accounting and auditing services?
Is it safe to outsource accounting and auditing services in terms of data security?
Should businesses that currently handle their own internal accounting switch to outsourcing accounting and auditing services?
