Overview
Mandatory for every FIE
A foreign-invested enterprise (FIE) in Vietnam generally must have its annual financial statements audited by an independent audit organization licensed to operate in Vietnam, regardless of revenue, profit, or number of employees.
Deadline
For a calendar-year company
- Complete the statutory audit and prepare the audited financial statements by 31 March of the following year.
- Submit the audited financial statements and complete the annual CIT finalization by the last day of the third month after the financial year-end.
- If the company uses a different fiscal year, apply the same 90-day/third-month rule from the end of that fiscal year.
Required follow-up
Six steps to close the year
- Appoint a qualified Vietnamese audit firm.
- Close the accounting records and prepare the financial statements.
- Complete the independent audit and obtain the audit report.
- Use the audited figures for annual CIT and PIT finalization.
- Submit the audited financial statements to the tax authority, statistical authority, and competent finance/business-registration authority through the required channels.
- Retain the audit report, management letter, financial statements, ledgers, and supporting schedules.
The annual audit is separate from the annual investment-project report. An FIE may therefore have both an audited-financial-statement obligation and a separate investment-reporting obligation.
Compliance wording
Annual audit: Arrange an independent statutory audit of the FIE's annual financial statements and complete the related financial-statement submissions and tax finalization by the statutory deadline.