Your challenges
Companies face severe challenges in dealing with the increasing complexity of accounting guidance. The increased complexity, coupled with stricter regulatory scrutiny and enforcement, has led to heightened sensitivity on the accounting practices of companies.
Over the years, accounting regulations have undergone substantial changes. Complying with changes in accounting regulations is much more than a technical accounting issue. The accounting standards may significantly affect any number of a company’s day-to-day operations or even impact the reported profitability of the business itself.
In addition to more challenging accounting standards, businesses are also evolving to accommodate complex business structures and transactions. Management is required to spend more time on critical business processes that can result in enhancement of business values. As there is a need to be accountable to the stakeholders, management has to understand the implications of the various accounting issues.
The company’s independent auditors can no longer provide such accounting advisory services without violating the independence rules. Companies will need assistance to supplement their internal resources and provide the depth of experience necessary to address accounting issues as they arise.
Meeting your needs
Our Accounting Advisory Service provides assistance on critical issues arising from changes in accounting standards and regulatory requirements, new business activities and business acquisitions. We focus on helping you manage change, safeguard compliance, and optimise the quality and efficiency of your accounting function, no matter where or how you do business.
How PwC can help you?
Our team is made up of professionals who have extensive industry experience and unrivalled knowledge of accounting and finance so as to provide excellent support to our clients in different industries
Our diversified and practical experience enables us to deliver quality accounting consultancy services to our clients.
We identify your needs, your concerns and questions in order to address your specific requirements and to provide you the optimal solutions to your problems.
Our principal services
Companies have realised the importance of working with the right accounting advisors to supplement their internal resources and provide the depth of experience necessary to address accounting issues as they arise. PwC can also assist management to understand the implications of the accounting issues and provide explanations to stakeholders. Some of our recent advisory work in complex accounting areas includes:
- Identify key differences between VAS (*) and IFRS (**)
- Quantify the differences identified
- Advise on the conversion/transition to IFRS reporting
* Vietnamese Accounting Standards (“VAS”)
** International Financial Reporting Standards (“IFRS”)
In order to keep the company’s finance personnel updated with the ever-changing accounting standards, PwC has also the expertise to provide the following:
- Tailored VAS / IFRS training for your staff
- Regular updates on changes to VAS / IFRS to the company
- Assistance in impact assessment. This can assist companies in planning ahead for changes in VAS / IFRS before and as they happen rather than being caught by surprise.
