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In this issue:

• Vietnam’s Current Compliance Environment
• A Guide to Navigating Annual Audit and Compliance
• Q&A: Optimizing Your Audit & Compliance Experience 

The first quarter is always a busy time for foreign investors in Vietnam. Compounding license renewals and the issues of new legislation, preparation of annual reports present a significant compliance task for enterprises of all sizes.

Although subject to varying requirements, all foreign entities in Vietnam are required to comply with statutory audit procedures outlined in law and clarified by numerous decisions and circulars. Complex and often subject to changing regulations and guidance, working to ensure compliance with up to date procedures and accounting standards can cause uncertainty for even the most experienced investors.

In this issue of Vietnam Briefing, we address pressing changes to audit procedures in 2015, and provide guidance on how to ensure that compliance tasks are completed in an efficient and effective manner. We highlight the continued convergence of VAS with IFRS, discuss the emergence of e-filing, and provide step-by-step instructions on audit and compliance procedures for Foreign Owned Enterprises (FOEs) as well as Representative Offices (ROs).

Dezan Shira & Associates has a growing team of accounting and legal professionals in Vietnam with years of experience helping foreign enterprises ensure compliance. For questions or information on Annual Statutory Audit Assistance, Bookkeeping, Financial Reporting, or other compliance issues, please contact our offices in Hanoi and Ho Chi Minh City.