Accounting & Financial Reporting
Maintain a fully compliant Vietnamese general ledger and financial reporting system. Our licensed CPAs handle your books, sign your financial statements, and coordinate your annual statutory audit.
MOF Licensed (No. 157/KDKET)
Authorized by the Ministry of Finance to provide accounting services and sign financial reports.
200+ FDI Clients
Foreign-invested enterprises across manufacturing, trading, technology, and services trust our accounting team.
Bilingual EN(ZH)/VN
Financial statements and management reports delivered in English or Chinese and Vietnamese for your headquarters.
PDPL Compliant
Financial data processed under strict data protection protocols per Vietnam's Decree 13.
Transparent Pricing
Fixed-fee packages covering government fees, notarization, and professional services.
What FDI Companies Must Report in Vietnam
David Nguyen
Partner & Director · CPA License #3868
14+ years in FDI advisory
Foreign-invested enterprises (FIEs) in Vietnam must maintain their local statutory books according to Vietnamese Accounting Standards (VAS) under Circular 99/2025/TT-BTC. International standards like IFRS are strictly prohibited for local tax and state reporting. Your mandatory compliance cycle includes monthly or quarterly VAT and PIT filings, quarterly investment reports to the Department of Finance (formerly Department of Finance (formerly DPI)), and annual audited financial statements.
Crucially, Vietnam's Law on Accounting 88/2015/QH13 mandates that all statutory financial statements must be signed by a certified Chief Accountant holding a valid Vietnamese CPA license. Failing to meet VAS formatting rules, missing filing deadlines, or submitting reports without a licensed Chief Accountant's signature triggers administrative penalties of VND 5–50 million—and repeated violations can risk the suspension of your Investment Registration Certificate (IRC).
By outsourcing your accounting to ICLV's team of MOF-licensed CPAs, you ensure unbroken compliance with local tax authorities while maintaining clean, reconcilable data for your parent company's IFRS consolidated reporting. We protect your books and your license, so you can focus on operations.
"Here's a closer look at how VAS differs from the IFRS standards your headquarters may be using."
VAS vs IFRS — Key Differences
If your parent company reports under IFRS, here are the critical differences you need to understand when operating in Vietnam.
| VAS (Vietnam) | IFRS (International) | |
|---|---|---|
| Legal status | Mandatory for all enterprises operating in Vietnam | Not accepted for statutory filing in Vietnam |
| Fair value | Limited recognition — mostly historical cost | Widely applied across asset classes |
| Revenue recognition | Based on VAS 14 — transfer of risks and rewards | Based on IFRS 15 — performance obligations model |
| Chart of accounts | Standardized numbering required by MOF (Circular 200) | Flexible — company determines its own structure |
| Financial statements | Must be in Vietnamese + signed by licensed Chief Accountant | Language and signatory per company policy |
| Statutory audit | Mandatory for ALL FDI companies, annually | Depends on jurisdiction and company size |
| ICLV solution | Full VAS compliance — we prepare, sign, and file | IFRS-VAS reconciliation bridge for your group reporting |
Vietnam plans to gradually adopt IFRS by 2030, but currently all companies must file under VAS.
"We bridge both systems — here's what we do."
Why FDI Enterprises Choose ICLV
Senior CPA Team (MNCs Backgrounds)
Our CPAs directly handle your books, sign your financial statements, and advise on issues as they arise — all under one experienced team with MNCs backgrounds. Your books are managed directly by senior accountants, not passed down to juniors.
Multi-Industry Expertise
Manufacturing, Trading, Technology, F&B, Logistics, Pharmaceuticals — we understand the accounting nuances of each industry, from inventory costing to import/export VAT treatment.
Bilingual Communication
English and Chinese-speaking team. Management reports for your headquarters, statutory reports for Vietnamese regulators — both prepared simultaneously with no translation delays.
Cloud-Based & PDPL Compliant
All work performed on secure, cloud-based accounting software. Your financial data is protected under strict protocols per Vietnam's Personal Data Protection Law (Decree 13/2023).
Systematic Risk Reduction
Structured workflows, automated deadline tracking, and multi-layer review processes minimize the risk of errors, missed filings, and data loss. Your compliance is never left to chance.
Secure Client Portal
Access our accounting software directly to monitor your financial data and track work progress in real time — no waiting for monthly emails. Secure, real-time access to your financial metrics.
"Here's how the engagement works, step by step."
How We Support You
Initial Assessment
We review your current books, legal structure, and compliance status to identify gaps and risks.
Setup & Onboarding
Chart of accounts configuration, VAS-compliant software setup, and Chief Accountant appointment.
Ongoing Processing
Monthly bookkeeping, bank reconciliation, VAT/CIT filing, bilingual management reports, and Department of Finance (formerly DPI) quarterly submissions.
Annual Close & Audit
Year-end closing, financial statement preparation, CIT finalization, and full coordination with your statutory auditors.
"See the companies we've already helped."
"For FDI enterprises, accounting in Vietnam is more than bookkeeping — it's the foundation of your compliance, your tax position, and your relationship with regulators. Getting it right from day one saves you years of headaches."
David Nguyen
Partner & Director
CPA License #3868 | Chartered Accountant · 14+ years in audit, tax, and FDI consulting
Trusted by 200+ Companies
From startups to multinational corporations across diverse industries and regions.
AHK Vietnam Consulting
Bata Vietnam Trading
AirAsia Aviation
Bestseller Fashion
BigLife Loyalty Programs
Blueleaf Technology
BOI Financial Services
BW Group Shipping
BayWa r.e. Renewable Energy
Caleres Footwear
Cheso Manufacturing
Copenhagen Infrastructure Service (Vietnam) RE Technology
Cognex Technology
FGI Finance Financial Services
GAME Retail
Haidilao F&B
Henner Insurance
HSL Construction
Hyster-Yale Manufacturing
IHG Hotels & Resorts Hospitality
Jobstreet Technology
JR286 Trading
JUWI Renewable Energy
Kingkho Manufacturing
Liftra Renewable Energy
Malca-Amit Logistics
Meril Life Sciences Medical Devices
Metrojet Aviation
MT Group Trading
Pedersen & Partners Consulting
Prym Manufacturing
Ponhan Manufacturing
QL Resources Agriculture
Qualcomm Technology
Scoular Agriculture
Sonos Technology
SSAB Steel
Taizhi Trading
Topcon Technology
Trina Solar Renewable Energy
UMAGE Design
Valuetronics Electronics
Bidgetek Technology
GoBear Fintech
Lurrel Technology
Qualitas Real Estate
Wayfair E-commerce
Alvarez & Marsal Consulting
AMETEK Manufacturing
Dr. Martens Fashion
Dayforce Technology
Beyondsoft Technology
Callaway Golf Sports
China Mobile International Telecommunications
WSP Engineering
ESR Group Real Estate
Skyworth Electronics
CPL Aromas Chemicals
Wiseasy Fintech
Scatec Renewable Energy
Samanea Logistics & Real Estate
Teckwah Logistics
DuPont Chemicals
Atalian Facility Management
Skedulo Technology
ib vogt Renewable Energy
Entoria Renewable Energy
LOGOS Real Estate
RX Tradex Events & Exhibitions
Xingke Electronics Manufacturing
XinDongHuang Bearing Manufacturing
Intube Asia Technology
Far East Horizon Construction
GBest Manufacturing
Life Wear Technologies Fashion Technology
Kimagri Trading
Mekong Sustainable Solutions Renewable Energy
Interflow Trading & Services
10dency Global Technology
AEQON Technology
Cintana Education Education
Daylight Solar Renewable Energy
PNB Technology Technology
Full Wisdom Manufacturing
Green Precision Components Manufacturing
IDBOX Technology
HCM Auto Automotive
DI Business Service Business Services
BLE Vietnam Services
HK Holding Investment
Sou Viet Services
DGL International Services
SCloud Technology
FABS Management Business Services
JBU Vietnam Manufacturing
SkyWorld Development Real Estate
VLSC Logistics
Hữu Tín Hằng Manufacturing
Zhongbu Plastics Manufacturing
Mắt Sài Gòn Healthcare
Global Star Technology Manufacturing
Fredton Services
Nhân Sinh Phúc Services
Nhật Thịnh Electric Electronics
SEAA-1983 Investment
Eralda Services
The Wu Group Investment
Technic Development Technology
ZYCC Services
ZDL Vietnam Manufacturing
Điện Gió Đầm Nại Renewable Energy
Sài Gòn Bags Manufacturing
Trung Sơn Energy Renewable Energy
Lương Tài Renewable Renewable Energy
Prospect Group Trading
BayWa r.e. Wind Projects Renewable Energy
Energy Solutions 1 Renewable Energy
BW Deep C Hai Phong Industrial Parks
BW Le Minh Xuan 3 Industrial Parks
BW Phu An Thanh Industrial Parks
BW Song Than 2 Industrial Parks
BW Tan Dong Hiep B Industrial Parks
BW Bau Bang Industrial Parks
LOGOS SE Asia Real Estate
LOGOS Vietnam BN1 Real Estate
LOGOS Vietnam HCMC Real Estate
VVIC Audit Audit & Consulting
Haidilao Nha Trang F&B
Haidilao HCM F&B
IHG Asia Pacific Hospitality
Tricor Services HK Business Services
Tricor Services Vietnam Business Services
MT Food Systems F&B
BWID Industrial Parks
Showing 134 of 200+ clients
How We've Helped FDI Companies Stay Compliant
M&A Due Diligence for Local Logistics Acquisition
A European logistics conglomerate intended to acquire a local Vietnamese trucking fleet but lacked visibility into the target's financial health and tax liabilities.
- Client saved $2M on acquisition cost and restructured the deal to mitigate future liability risks.
Annual Accounting & Tax Compliance for Korean Manufacturer
A Korean auto parts manufacturer operating in Long An province faced recurring tax penalties due to inconsistent bookkeeping and missed CIT filing deadlines under their previous local accountant.
- Zero tax penalties for 3 consecutive years. Client saved 15% on CIT through properly applied EPE incentives.
What We Cover
Bookkeeping & Reporting
Accurate general ledger maintenance and monthly/quarterly/annual financial statements under VAS.
Chief Accountant
PopularLicensed CPA appointed as your statutory Chief Accountant — authorized to sign reports and represent your company.
FDI & Investment Reporting
Quarterly and annual investment implementation reports to the Department of Finance (formerly Department of Finance (formerly DPI)) and Statistics Department.
Statutory Audit Support
Preparation and coordination for the mandatory annual statutory audit required by Vietnamese law.
Frequently Asked Questions
Yes. Under the Law on Accounting 2015 (No. 88/2015/QH13), every enterprise must appoint a Chief Accountant who holds a valid CPA certificate. This applies to all FDI enterprises regardless of size. The Chief Accountant is legally responsible for signing financial statements and tax returns.
Vietnam requires VAS-compliant accounting software that supports the standardized chart of accounts and Vietnamese-language invoices. International tools like QuickBooks or Xero alone are not sufficient. We work with MISA, Fast Accounting, and other MOF-approved platforms. If you use SAP or Oracle at group level, we maintain a parallel local ledger for statutory compliance.
Monthly: VAT and PIT withholding (by the 20th). Quarterly: CIT provisional payments (by the 30th of the month following the quarter) and Department of Finance (formerly DPI) investment reports. Annual: CIT finalization and PIT finalization (by March 31st), statutory audit, and audited financial statement submission to the Department of Finance.
Non-compliance can result in administrative fines (up to VND 50 million per violation under Decree 41/2018), tax reassessments, and in severe cases suspension of your Investment Registration Certificate (IRC). After 12 consecutive months of no reporting, the tax authority may revoke your tax code.
We prepare your statutory books under VAS for Vietnamese regulators, and provide an IFRS-VAS reconciliation bridge so your parent company can consolidate without discrepancies. Key differences include fair value recognition, revenue recognition standards, and chart of accounts structure.
January 1st to December 31st. Under specific conditions approved by the tax authority, companies may choose years ending March 31st, June 30th, or September 30th. FDI companies often align with their parent company's financial year — we handle the application process.
Yes. Even dormant companies must file monthly zero-return VAT declarations, annual financial statements, and CIT finalization. FDI companies must also submit quarterly Department of Finance (formerly DPI) reports. Failure to file can result in penalties and eventual tax code revocation.
For FDI companies, outsourced accounting typically ranges from $500–$2,000/month depending on transaction volume, number of employees, and complexity. This includes bookkeeping, tax filing, and Chief Accountant services. Contact us for a tailored quote based on your specific operations.
Not sure where to begin?
Ready to Simplify Your Accounting?
Let our CPA team take the complexity out of Vietnam's accounting standards—keeping your books audit-ready year-round.