Guidance for Auditors on Concluding Financial Statements

Kim Linh

14:17, 11/07/2024

The Ministry of Finance has issued Circular 65/2015/TT-BTC on Vietnamese Standards on Review Service Contracts.

To form conclusions on financial statements, auditors must:

Firstly, assess whether the financial statements refer to or fully describe the applicable financial reporting framework;

Secondly, consider, according to the applicable financial reporting framework and the results of the procedures performed, whether:

- The terms used in the financial statements, including the titles of each financial statement, are appropriate;- The financial statements fully disclose all significant accounting policies selected and applied;- The accounting policies selected and applied are consistent with the applicable financial reporting framework and appropriate;- The accounting estimates made by the entity's management are reasonable;- The information presented in the financial statements is appropriate, reliable, comparable, and understandable;- The financial statements provide sufficient disclosures to help users understand the impact of significant transactions and events on the information presented in the financial statements.

Circular 65/2015/TT-BTC takes effect from January 1, 2016.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email [email protected]