Business owners and managers delegate and trust crucial business information and practices to their finance and accounting staff. Most owners and managers are not experts in Vietnamese accounting, tax and payroll practices, and can only assume that everything is being completed correctly and on time unless their staff tell them otherwise. Unfortunately, not all staff are complete experts and do not always understand the commercial and risk implications of their actions.
Do you know the status of all your tax commitments?
Do you receive your monthly financial reports on time?
Are your Social Insurance and other payroll obligations up to date?
Do you see your month-end accounting reconciliation process every month?
If your answers to any of the above are “no” or “not sure”, then you and your business are at risk.