Why do auditors choose this criterion as a starting point in determining materiality and not the other criterion, and what ratio is appropriate?

The Role of a Financial Statement Audit in the Enterprise|| AS Auditing - A financial statement audit ensures that the information in the financial statements gives a true and fair view, in all material aspects, of the financial situation, the results of operation, and the cash flows of an enterprise.

Chart of Accounts under the Vietnamese Accounting System (AS Auditing)

In the audit profession, everyone must know about the audit program, each audit firm will have its own audit programs, but all of them are based on a general program, then further developed, called is the “Sample Audit Program” The universities that have trained audit major in Vietnam, currently, for various reasons, there are some schools teaching their students the Sample Audit Program or not.

Audit opinion - Auditing financial statement is a type of assurance service, the final product is the “audit opinion” for the audited financial statements of enterprises.

Depreciation of fixed assets is not a new concept, but the difference in determining the deductible depreciation expenses between tax law and accounting regulations, is a problem that confuses many enterprises. According to accounting regulations, all existing fixed assets of the enterprise related to production and business activities (including acceptance but not used, unused or awaiting liquidation assets) must be depreciated and recorded as expense of the enterprise. According to tax law, not all the depreciation expenses are included in the deductible expenses when determining corporate income tax (CIT).

Accounting vouchers are important documents. Not only for recording work, and providing information for management and administration in enterprises, but also they are must-have requirements of a company to provide for the government. After-tax finalization, the accounting vouchers are still archived. The time for archiving them will depend on each type of voucher, and corresponding to the archival period. There are three types of retention periods: minimum 5 years, minimum 10 years, and perpetual storage.