Khóa luận tốt nghiệp Kế toán kiểm toán: Audit of property, plants and equipment at bakertilly a&c

có sự liên hệ voi mục tiêu kiêm toan và các nội dung lý thuyêt đã trình bảy nhưng con thiêu logic ở mét vải điểm.. Trinh bay day đủ các thủ tục kiểm toán, có sự liên hé với mục tiêu kiêm

FACULTY OF ACCOUNTING AND AUDITING

GRATUATE

AUDIT OF PROPERTY, PLANTS AND

EQUIPMENT

AT BAKERTILLY A&C

Lecturer: Hoang Thi Mai Khanh

Student: Nguyen Quoc BaoStudent’s ID: K194050737

Class: K19405CA

HCM City, 4/2023

First of all, I would like to express my gratitude to the teachers of the University of

Economics and Law (UEL) (National University of Ho Chi Minh City) in general, the

teachers of the UEL accounting and auditing department in particular, and especially

Master Instructor Hoang Thi Mai Khanh has accompanied me a lot in completing thisthesis

I still remember the first day I stepped foot on the university's threshold with so many

surprises like a baby bird that could not fly, with a vast sky of knowledge, I didn't

know where to start Teachers with love and enthusiasm have taught us to gain

valuable knowledge Day by day, we have spent nearly 4 years in the university lecturehall, and then there are times when we have to go to practice at businesses With an

eager and confident mood because I have been equipped with knowledge from

teachers, but the reality is not simple at all, with many difficulties, I was working with

my seniors, and writing an graduate report at the same time With the rich, diverse andvivid reality, there were problems I could not imagine, but with the help and

enthusiastic guidance of the master teacher Hoang Thi Mai Khanh who explained eachproblem, I'm slowly getting to grips with some of the problems

I am also very fortunate to be able to practice at A&C Auditing and Consulting Co.,

Ltd (A&C Company) A company with a wealth of experience and a team of

experienced professionals During the internship, I was guided enthusiastically by mybrothers and sisters, imparting valuable knowledge, experience, and flexible working

skills Although our internship season is also the company's audit season, seniors are

very busy, but they still have to explain the issues that I don't understand so that I canfinally complete this thesis

I completed this thesis within 8 weeks, after an 8-week internship The time is not

much to collide with the rich, diverse and multidimensional reality, so the thesis

inevitably has shortcomings that need to be improved I look forward to receiving yourvaluable contributions to improve my thesis as well as my knowledge in this field

Once again, I would like to express my deep gratitude to the teachers of the University

of Economics and Law - Vietnam National University, Ho Chi Minh City, the Board

of Directors of A&C Company, Auditors of A&C Company and especially Master's

Instructor Hoang Thi Mai Khanh have accompanied and helped mea lot in the process

of studying as well as completing the thesis

Best regard

Cơ sở li thuyết

Thực tế tại

nghiệp

Nhân xét, kiên nghị Nhận xét, kiên nghị không bên quan | Nhận xét có liém quan dén wan đề | Nhận xét có liễn quan dén vẫn đề | Nhận xét mang tinh phan biện, có sự | |

đủ,ï không xác định được mục tiêu | cứu, ,đổi tượng nghiên cửu tả pham vi Ï nghiên cứu của khóa luận Các

nghiên cửu, abi tương nghiền cứu va gop ýoieGVHD da số được cải thiện.

Không trình bảy những vẫn đề lý thuyết

co bản của van đề nghiên cứu hoặc

Không có giây lam việc minh hoa.

Trình bảy cơ sở lý thuyết có chon lọc, phi hop với đề tải nghiên cứu.

Có sự tông hợp, phan tích phù hợp.

Tuy nhiên, một vải diém chưa có sự

kêt nổi têt Con một vải lỗi sai trong

nỗi dung.

doanh | Chỉ sao chép giầy lam việc Không có | Trình bảy tương: đôi đây đủ các thủ

tục kiém toán có sự liên hệ voi mục tiêu kiêm toan và các nội dung lý thuyêt đã trình bảy nhưng con thiêu logic ở mét vải điểm.

Các thủ tục kiểm toán trình bảy chưa

mang tinh đắc trưng điễn hình cho

nỗi dung minh họa.

Không giải thích được tại sao KTV

Thực hiện/ hoặc không thực hiện một thủ tục.

Không trình bảy thủ tục kiêm toán

thay thé trong trưởng hợp kết quả thd Tục không đạt mục tiểu kiểm toan.

Một sö giấy lam việc va số liệu không

được minh hoa.

Nhiều sẽ liệu được trình bảy thừa,

thiêu hoặc chưa khớp.

Trình bay cơ sở lý thuyét có chọn lọc phù |hợp với đề tải hiền cứu.

Có su tổng hợp phan tịch các nội

dung nghiền cứu Có sự so sánh

với các nội dung liên quan C6 sự

kết nổi rõ rằng trong các vẫn dé

trình bảy Rắt 2 lỗi sai nội dung.

Trinh bay day đủ các thủ tục kiểm

toán, có sự liên hé với mục tiêu kiêm toán vả các nội đung lý thuyét

đã trình bảy.

Các thủ tục kiểm toán trình bảy mang tinh đắc trưng, điễn hình cho

nỗi dung mình hoa thé hiện được

những điềm nhan mạnh trong ly

thuyét.

Có giải thích tại sao KTV thực

hiển/ không thực hiện một thủ tực

hoặc có trình bảy thủ tục kiêm toán

thay thẻ trong trưởng hợp két quả

thủ tục không đạt mục tiêu kiêm

toán Tuy nhiên, văn con một số điểm chưa logic; hoặc một số nội

dung chưa cải thiên hét theo yêu cầu của GVHD mả không được giải thích lí do.

Giầy lam việc va 56 bều được minh

hoa day |đủ Một vải chỗ hơi thừa,

thiêu hoặc chưa khớp.

Chương mở đầu trình bảy aay au,

mach lac Xác định rễ rang vả thuyết

phục mục tiêu nghiên cứu, đồi tượng

nghiên cửu va phạm vi nghiền cứu của khỏa luận.

Trình bảy các van đề liên: quan đến

nỗi dung ng hiện cứu đây đủ nội

dung phan tích sầu Có sự tông hop.

so sảnh phan tích hợp ly va mang

tinh thuyét phuc cao.

Trinh bay day đủ các thủ tục kiểm

toán, có sự liên hé với mục tiêu kiểm:

toán va có kết nổi với những nội dung ly thuyết đã nêu.

Các thủ tục kiểm toán trình bay mang tỉnh đặc trưng, điên hình cho nỗi dung minh hos Co nhiêu wi du khai thác các tinh huéng can sự

phan tích vả liên hệ sầu với ly thuyét.

Có giải thích tai sao KTV thực hién/

không thực hiên mốt thủ tục vả có

trình bảy thủ tục kiêm toán thay thể trong trưởng hợp kết quả thủ tục không đạt mục tiêu kiêm toản với rat

it sự hỗ trợ của giảng viễn.

Giầy lam viễc va số liệu được minh

hoa đầy đủ logie, phù hợp với nội

dung trình bảy.

xét, kiên nghị con chung chung, chưa khuẩn Phan tích, bên hệ một số, |50 sảnh giữa thực trang dién ra ở thuyêt mặt cach logic, hoan ,chỉnh.

cụ thể Chưa liên quan trực tiếp đến nhưng chưa trọn vẹn các van đề | doanh nghiệp va lý thuyết Một sẽ Các kiên nghị xác thực vả gan liên

van dé nghién cứu giữa thực trang voi ty thuyết Kiên | kiển nghị gan liền voi van dé cụ | với van dé thực tŠ Co sự mở rộng

nghị con chung chung, chưa thực té | thé Co sự mở rộng cho bồi cảnh | cho béi cảnh chung.

pháp nghiền cửu hoặc cách dé xuất va5 giải quyét van dé thiết auc, sang nghién cửu,_ phạm vi, đồi tượng

nghiên cứu hoặc phương pháp

nghiên cứu Cách đề xuất va giải

quyét van dé thiệt thực, sảng tao.

yêu cầu nhung Tiêu dẫn không đầy đủ, hợp Bỗ cục phủ hợp Một sẽ trích phù hẹp 86 cục phù hợp, logic cö lỗi chinhs ta va lỗi'trình bảy Trích

khẳng dung yeu cầu dan chua đây đủ, chưa omer cau Trích dân day đủ,i ding yêu cầu dẫn diy đủ, đúng yêu cầu Bồ cuc

&| Luỗn nộp bai đúng han Tự lập ké 6) hoạch, quan ly thời gian va tim sẽ

liệu đặc lap.

Luän chủ dong đưa ra giải pháp cho

các van dé kha khan một cách đặc

3 : Luỗn thé hiện nỗ lực va cam ket với

rat It nỗ lực trang việc hoản thảnh KLTN.

KLTN.

Chữ ký của GVHD

PHIẾU ĐÁNH GIÁ KHÓA LUẬN TOT NGHIỆP - GVPB - Dé tài: KIEM TOÁN

Chương mở đầu Nội dung chương mở đầu không đây Chương mở đầu gồm day đủ nội dung, xác định được mục tiêu nghiền | Chương mở đầu trình bay day đủ.

đủ, khong xác định được mục tiêu cứu, đồi tương nghiên cửu va phạm vi nghiền cứu của khỏa luan Các mạch lao Xác định rõ rang va

nghién cứu, đổi tượng nghién cứu vả | gop ÿtcủa GVHD đa số được cải thiện thuyêt phục mục tiêu nghiên cứu,

pham vi nghiền cứu của khỏa luần Một sẽ điểm trình bay chưa logic đổi tượng nghién cửu va phạm vi

nghiễn cửu của khỏa luận.

Giới thiệu về doanh Giới thiệu về doanh nghiệp day đủ,

nghiệp thé hiện sự am hiểu về ngảnh nghé,

lĩnh vực hoạt động vả cơ cầu của doanh nghiệp

Không trình bảy những van dé lý Trinh bay cơ sở ly thuyết củ chọn = | Trinh bay cơ sở ly thuyết có chọn | Trinh bảy đây đủ các vẫn dé liễn thuyết cơ bản clavan đề eno cứu | lạc, phù hợp với đề tải nghiền cửu lọc phủ hợp với đề tai nghiên quan đến nỗi dung nghiên cửu Cả

cửu ce sự kết nổi ro rằng trong | sự tổng hợp so sảnh, phần tích

kết nỗi tat, Cén một vải lỗi sai trong các van dé trình bảy Rat it lỗi sai | hợp ty va mang tinh thuyét phục

nỗi dung nỗi dung.

Thực tê tại doanh Chỉ sao chép giầy lam việc Không có

nghiệp quan sắt điễn giải của người việt tục kiểm ton, có sự liên hệ với mục | toán, có sự liên hệ với mụctiêu | toán, cổ sự liễn hệ với mục tiêu

tiêu kiểm toán vả các nội dung lý kiêm toản vả các nội dung ý kiêm toản va có kết nỗi với những

HOAG thuyết đã trình bay nhưng con thiểu | thuyết đã trình bay nỗi dung lý thuyết đã néu.

Có trình bảy các thủ tục kiểm toản, logic ở một vải điểm Co giải thích tại sao KTV thực Cỏ giải thích tại sao KTV thực hién/

nhưng không đầy đủ vả logic Không giải thích được tại sao KTV _ |hiện! không thực hiển một thủ tục không thực hiện một thủ tục va có

Chưa có su lên hệ giữa mục tiêu thực hiện/ hoac không thực hiễn hoặc có trình bảy thủ tục kiêm trình bay thủ tục kiếm toán thay thé

kiểm toản, các thủ tục thực hiện vả kết | một thủ tục toán thay thễ trong trưởng hợp trong trường hợp két qua thủ tục quả thực hiện các thủ tục Không trình bảy thủ tục kiểm toán | kết quả thủ tục không đạt mục không đạt muc tiêu kiểm toán với

Không cỏ giấy lam việc minh họa thay thé trong trưởng hợp kết quả _ [tiêu kiêm toán Tuy nhiên, vấn cỏn | rất it sự hỗ trợ củagiảng viễn.

thủ tục không đạt mục tiêu kiểm một sô điểm chưa logic; hoặc một | Giầy lam việc vả số liệu được minh

toán 36 nội dung chưa cai thiện hết hoa day đủ, logic, phù hợp với nội Mat số giấy lam việc va sö liệu theo yếu cầu của GV má không | dung trình bay.

không được minh họa được giải thích lí do.

Nhiều số liệu được trình bay thừa, | Giấy lam việc và sẽ liệu được

thiểu hoặc chưa khớp minh hoa day đủ Một vai chỗ hơi

thừa, thiêu hoặc chưa khớp.

Nhẫn xét, kiên nghị Nhận xét, kiên nghị không liên quan Nhận xét có lién quan đền van dé Nhận xét có liền quan đền van dé | Nhận xét mang tinh phan biển, có

đến van dé nghién cứu HOAC Nhận

xét, kiên nghị con chung chung, chưa

cụ thé Chưa liễn quan trực tiếp đền

van dé nghiễn cứu.

yêu cầu chung Trích dan khéng day

đủ, không đúng yêu cau

nghiễn cửu nhưng co mang tinh rap | nghiễn cửu cụ thé Có sự kết nỗi, khuôn Phan tích, liễn hé mắt sẽ,

nhưng chưa tron ven các van dé

giữa thực trang với ly thuyết Kién

nghị côn chung chung, chưa thực

s0 sảnh giữa thựctrang¢dién ra ở

doanh nghiệp va ly thuyết Mặt số

kiễn nghị gan | liễn với van dé cụ

thé Co sur mở rộng cho bỗi cảnh

chưng.

phương pháp nghiên cửu "hoặc cách dé xuất vả giải Quyết wan dé thiết

thực sang tạo.

hợp Bễ cục phù hợp Một số trích

dẫn chưa đây đủ,„chưa đứng yêu

Hinh thức trình bay nhìn chung phù hợp Bê cục phù hợp, logic.

Trich dan day đủ,tr yeu cau.

sự kết nổi so sánh giữa thực tễ va

lý thuyết một cách logic, hoan

chỉnh Các kiên nghị xác thực vả gắn liễn voi van dé thực tả Co sự

mở rộng cho bồi cảnh chung.

Gó nhiều diém mới trong van dé nghién cửu, pham vi, đổi tượng

nghiên cửu hoặc phương pháp nghiên cứu Gach dé xuất va giải

quyét van dé thiệt thực, sang tao.

Hinh thức trình bảy phù hợp, khong

có lỗi chinhs ta vả lỗi trình bảy.

Trich dan day đủ, dung yêu cau Bo

cục phi hợp hai hỏa giữa các

phan.

PHIẾU ĐÁNH GIÁ KHĨA LUẬN TĨT NGHIỆP - đề tài

Nội dung chương mở đầu khẳng đây Chương mở đầu gồm day đủ nội dung, xắc định được muc tiểu, đơi

tượng vả phạm vi của dé tải Cac gĩp ý của GVHD đa 56 được cải

đủ, khơng xác định được mục tiêu, đổi

tượng va phạm vi của dé tải.

Khơng trình bảy những vẫn dé ly

thuyết co bản của vẫn dé nghiên cứu

hoặc trình bảy khơng cỏ sự tơng hợp.

Chưa cĩ sự liên hệ giữa mục tiêu kiểm

tốn, các thủ tục thực hiện va két qua thực hiện các thủ tục.

Khơng cỏ giấy lam việc minh họa.

Nhận xét, kiên nghị khơng liễn quan đến van dé nghién cứu HOAC Nhắn

xét, kiên nghị con chung chung, chưa

cu thé Chưa liễn quan trực tiếp dén van dé nghiễn cứu.

thiện.

Một số điềm trình bay chưa logic.

Trinh bảy cơ sở ly thuyết cĩ chon

loc phù hợp với đề tải nghiền cử.

Tuy nhiên, một vải điệm chưa cĩ sự

kết nỗi tỗi Con mệt vải lỗi sai trong

nỗi dung.

Trinh bay tương đổi đây đủ các thủ

Trinh bảy cơ sở ly thuyết cĩ chon

lọc phù hợp với để tai nghiên

cứu Cĩ sư kết nỗi rễ rang trong

các van dé trình bay Rat ít lỗi sai

nỗi dung.

Trinh bay day đủ các thủ tục kiểm

tục kiêm toan, cĩ sự liên hệ với mục | toản, cĩ sự liên hệ với mục tiểu

tiêu kiêm tốn vả các nội dung ly

thuyét đã trình bảy nhưng con thiéu

logic ở một vải điểm.

Khơng giải thích được tại sao KTV thực hién/ hộc khơng thực hién

một thủ tục.

Khơng trình bảy thủ tục kiêm toan

thay thé trong trưởng hợp kết quả

thủ tục khơng đạt mục tiểu kiểm tốn.

Một 56 giầy lam việc vả sư liễu

khơng được minh họa.

Nhiều số liệu được trình hảy thừa,

thiểu hoặc chưa khớp.

Nhan xét cĩ lién quan đến van dé

nghién cửu nhưng cĩ mang |tinh rap

khuỗn Phan tích, lién hé mot số, nhưng chưa tron ven các van dé giữa thực trang với ly thuyét,, Kiên nghị con chung chung, chưa thực

kiêm toan vả các nội dung lý

thuyết ‹đã trình bảy.

Cỏ giải thích tai sao KTV thực hiện! khơng thực hiễn một thủ tục hoặc cĩ trình bay thủ tục kiêm

todn thay thé trong trưởng hợp két qua thủ tục khơng đạt mục tiêu kiêm tốn Tuy nhiễn van con một số điểm chưa logic; hoặc mat

số nội dung chưa cai thiện hết

thea yêu cau của GV ma khơng

được giải thích lí do.

Giây lam việc va sẽ liệu được minh họa day đủ Một vải chỗ hơi thừa, thiêu hoặc chưa khớp.

Nhận xét cĩ liên quan đến van đề

nghiên cứu cụ thé Cĩ sự két nỗi,

so sảnh giữa thực trang diễn ra ở doanh nghiễp va lý thuyết Mat số kiên nghị gắn lién với van dé cụ thé

Kiểm tốn - HOI DONG

Chương mở đầu trình bảy đây đủ mach lac Xác định ro rang và

thuyét phuc mục tiểu, đổi tương va

pham vi của dé tải.

Giới thiệu vé doanh nghiệp đầy đủ,

Trinh bảy day đủ các thủ tục kiêm

tốn, cĩ sự liên hệ với mục tiêu

kiêm toan vả cĩ kết nỗi |với những

nội dung lý thuyết đã néu.

Cỏ giải thích tại sao KTV thực hiển! khơng thực hiện một thủ tục va co

trình bảy thủ tục kiếm tốn thay thê

trong trường hợp két qua thủ tục

khơng dat muc tiểu kiểm tốn với

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CONTENT S ssssssssssssssssssssssssssssessssesssscsasssacssssssessssssssesscscsssscsasssacssssssonsssssssesoasssesssasssasssasssasnsssasonsnasiesigs VIII INTRODUCTION 0 5.:::scsssssscsssssscsosssscrossssorssessossssesssssscsosssocsosseacsossesessssssesossssssossesosssoszesssassossssesssessen035eo03 1

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CHAPTER II: AUDIT PROCESS OF FIXED ASSETS OF BAKER TILLY A&C COMPANY.7

2.3 Illustrate the process of auditing financial statements of fixed assets accounts at company

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List of table

Table 1: Materiallity 1 21

Table 2 BHO Summary sheet of fixed assets and construction in progress 24

Table 3 BH0.1 Increase or decrease of tangible fixed assets - 24

Table 4 BH0.3 Increase or decrease of intangible fixed assetfs - 25

Table 5 BH0.4 Increase or decrease in unfinished construction assefs 25 Table 6 Analytical procedur€S - (c2 3212321132133 111 111811511111 11111 27

Table 7 Verify data sheef - - LH ng gu TH gu TH nh TH ng nh nh 28

Table 8 Test the increase and decrease of fixed assefs c Sex 29

Table 9 BH3.1 Depreciation of fixed assefs HH Hy 31

Table 10 Cost of construction in prF0ÿðT€SS -. 5c 2c 22222221232 22E2Exzxeres 33 Table 11 Sample of construction in pF0OÿðT€SS óc c1 sserseersrrsree 34 Table 12 General examination of unusual reciproeaÌsS - «5+ 55s <>ss>+ 36

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Fixed assets always account for a large proportion of the total asset

value of the company, therefore the condition of the enterprise's equipment,

facilities, and technical facilities is always reflected in the item of fixed

assets So conducting a financial statement audit, the fixed assets item is

important

The main objective of the fixed asset audit is to determine that the fixed assetsexist are owned by the enterprise, completed, accurately, properly classify, and

presented in the financial statements in accordance with the current accounting

standards and regimes

Misstatement in determining the costs that make fixed asset costs, repair costs,and depreciation costs will be detected thanks to the audit of the fixed asset item

These expense misstatements frequently result in material financial statement

misstatements

The author selected the topic "Audit of PPE at Baker tilly A&C Company Limited"

with the intention of diving deeply into the above issues, exploring, learning from

reality, as well as clarifying audit procedures of auditing fixed assets

2 The objective of the report

- Understand and describe the general audit process at Baker Tilly A&C Vietnam

Co., Ltd

- StudyDescribe and analyse the process of auditing fixed assets at Baker Tilly

A&C Vietnam Co., Ltd and apply that process to Company A

- Indicate advantage, disadvantages and room for improvement in audit process

Studying the application of the process of auditing financial statements of fixed assets and depreciation of fixed assets at enterprise A for the year from January 1, 2021 to

December 31, 2021

4 Research method of the report

The study is based on the following main methods:

- Collect documents related to the topic of A&C

- Observing seniors to know the steps of an audit

- Collect working paper provided by seniors and use them for the topics

- Discuss with the auditors the issues within the scope of the topic

- Researching legal documents in the field of accounting and auditing via the

internet, textbooks

5 Structural content of the topic

Chapter 1: Theoretical basis of fixed assets and fixed asset audit

Chapter 2: Audit process of fixed assets of Baker Tilly A&C company

Chapter 3: Comments and recommendations

Student’s name

Nguyễn quốc Bao

CHAPTER I: THEORETICAL BASIS OF FIXED ASSETS AND FIXED

ASSET AUDIT

1.1 Theoratical Basis

1.1.1 The concept of fixed assets

Fixed assets: are assets owned by the enterprise, of great value, for long-term use, and

bring economic benefits to the enterprise

e Tangible Fixed Assets

As Vietnam Standard Accounting (VAS) No 03, Paragraph 5, Tangible Fixed assetsare assets with physical forms held by enterprises for use in the production and

business activities following the standards of recognition of fixed asset

Assets recognized as tangible fixed assets must simultaneously satisfy all four (4) ofthe following recognition criteria:

- Itis probable that future economic benefits will flow from the use of the asset;

- The historical cost of the asset must be measured reliably;

- Estimated useful life of more than 1 year;

- Satisfies the current regulations value criteria

According to Circular 45/2013/TT-BTC: “The historical cost of assets must be reliably

determined and have a value of VND 30,000,000 (Thirty million VND) or more”.

e Intangible fixed assets

According to VAS 04 of the Ministry of Finance (2001), Intangible fixed assets are

assets that have no physical form but can be determined and are held and used by

enterprises in production, business and service provision or leased to other subjects inaccordance with the recognition criteria of intangible fixed assets

e Fixed assets under finance lease:

According to VAS 06 of the Ministry of Finance (2001), paragraph 4 provides as

follows

A lease means an agreement between the Lessor and the lessee whereby the lessor

transfers the right to use an asset to the lesse for a certain period of time in return for alease payment might in a lump sum or installments

A financial lease is a lease whereby the Lessor transfers most of the risk and rewards

associated with the ownership over an assets to the lessee The ownership over the

asset maybe transfered at the end of the lease term

An operating lease is a lease is a lease other than a financial lease

e Depreciation

According to Paragraph 5, VAS 03 and paragraph 6, VAS 04: Depreciation is the

systematic allocation of fixed asset's depreciable value over the course of its useful

life

A fixed asset's depreciable value is its historical cost recorded in the financial

statements, less (-) its expected liquidation value

A fixed asset's useful life is determined by two factors: the duration in which the

enterprise intends to use the asset; or the volume of product or other equivalent units

of measure that the enterprise expects to gain from using the asset

Liquidation value is the estimated value of an asset at the end of its useful life, less theestimated costs of disposal

Reasonable Value: The value of an asset might be traded in a parity transaction

between knowledgeable parties

A fixed asset's residual value is its historical cost less the asset's total accumulated

depreciation

According to Paragraph 17, VAS 06: A financial lease shall give rise to asset

depreciation costs as well as financial cost in each accounting period The depreciationpolicy for a leased asset must be consistent with the depreciation policy for assets of

the same kind under the ownership of the lessee-enterprise If it is uncertain that the

lesses would obtain the assets’ ownership by the end of the lease term, the leased asset

well be depreciated over a shorter duration between the lease term and its useful life.

1.1.2 Legal documents

“Vietnam Accounting Standard-VAS 03: Tangible fixed assets”

“Vietnam Accounting Standard -VAS 04: Intangible fixed assets.”

“Vietnam Accounting Standard - VAS 06: Lease of assets.”

“Circular 200/2014/TT-BTC of the Ministry of Finance guiding corporate

accounting.”

“Circular 45/2013/TT-BTC of the Ministry of Finance guiding the regime of

management, use and depreciation.”

“Vietnam Auditing Standards — VSA”

1.1.3 Common risks to fixed assets

- Investment and procurement decisions: Investment is rampant without focus,

leading to financial imbalance; Purchased for individuals but charged to theassets of the unit

- Recording and using fixed assets:

o Recording information about fixed assets: Recording fixed assets is not

in the right period; choosing an inappropriate depreciation method,

estimating the useful life of fixed assets incorrectly; causing loss of fixed

assets due to not taking periodic inventory

o Using fixed assets: Using fixed assets for improper purposes, wasteful

use leading to inefficiency; using fixed assets for private purposes; Loss

of fixed assets

- Liquidation of fixed assets: Not writing off paid fixed assets; sale at a low price;

embezzlement of fixed assets

1.1.4 Client's internal control for Fixed Assets

- The objective of internal control:

o Reliability of financial reporting: ensure that the information is presented

fairly and in accordance with the reporting requirements of accountingframeworks such as VAS

o Efficiency and effectiveness of operations: ensure the efficiency when

using resources, human resources, financial resources and materialresources when investing in assets, recording assets, liquidating

o Compliance with laws and regulations: ensuring the company complies

with relevant laws and regulations

- 5 important parts that make up the internal control system

o The control environment: all members of the company support the

importance of the internal control system

o Risk Assessment process: Risk measure is the process of identifying and

analyzing the risks that have been, are and will happen From there, it

will limit the upcoming risks to improve business efficiency.

o Monitoring of controls: doing regular evaluations to determine whether

internal controls are functioning properly

o The information system and communication: consists of financial

statement, the procedures and records established to conduct, record,

process, and report entity transactions (as well as events and conditions)

and to maintain accountability for the related fixed assets

o Control activities: They are the policies and procedures that help ensure

that management directives are carried out

Procedures of control:

- Regarding the proposal to purchase assets: Based on the plan developed at the

beginning of the year and only authorized persons can approve the purchase offixed assets

- Regarding the review and approval of property purchase, there is

decentralization of proposal, approval, and procurement

- The selection of suppliers: there must be a price survey to ensure the most

reasonable price from suppliers For assets of great value, capital constructioninvestment projects, the unit should choose the form of public bidding, in order

to choose the supplier with the best price and highest quality

- Receiving fixed assets: When receiving, there is an acceptance council that

clearly stipulates the composition, including purchasing department, proposedpurchase department, user department, specialized technical staff (if any),

make an acceptence certificate of fixed assets.

- Recording fixed assets: Based on contracts, minutes of acceptance, liquidation

of contracts, invoices, etc., accountants classify fixed assets and record themaccording to relevant accounting standards

- Assign responsibility for asset management

- Perform annual inventory of fixed assets

- Calculation and recording of depreciation of fixed assets: Consistent and in

arcording with accounting standards approved by competent authorities

- Upgrading fixed assets: Because the expense of upgrading fixed assets is often

large, the upgrading of assets must be approved by the board of directors or theboard of management as the process of investing in fixed assets

- Annually, it is necessary to review the efficiency of using fixed assets, technical

condition to assess the situation and usability of the assets There are reports ofunneeded fixed assets awaiting liquidation to the competent authority

( BOD/BOM/ Board of Member)

- Promulgating procedures for liquidation of fixed assets: The enterprise

stipulates that the user department must be the liquidation requester (to avoidthe case where the object of the liquidated fixed asset is incorrect),

decentralizes and approves the liquidated fixed asset When liquidating, theremust be a liquidation record including the name of the fixed asset, its historicalcost, accumulated depreciation, technical condition, and recoverable value in

order to prevent possible violations

1.1.5 Audit objective of FA

- General objective of auditing financial statements

Verify that financial statements are accurate, free from major misstatements, and in

compliance with current regulations The audit firm checks the accuracy of the

enterprise's financial accounts in order to offer correct information to interested

parties to make accurate decisions

- Objectives of audit of financial statements of fixed asset accounts

o Existence: The enterprise's fixed assets exist; there is no overwriting

o Rights and obligations: Fixed assets recorded in the financial

statements are owned and decided by the enterprise

o Completeness: All Fixed assets that should have been recorded have

been recorded and all related disclosures that should have beenincluded in the financial statements have been included

o Accuracy, valuation and allocation: Fixed assets have been included

in the financial statements at appropriate amounts and any resultingvaluation or allocation adjustments have been appropriately recorded,and related disclosures have been appropriately measured and

described

o Classification: Fixed Assets have been recorded in the proper

accounts

o Presentation: Fixed assets are appropriately aggregated or

disaggregated and clearly described, and related disclosures arerelevant and understandable in the context of the requirements of theapplicable financial reporting framework

CHAPTER II: AUDIT PROCESS OF FIXED ASSETS OF BAKER TILLY

A&C COMPANY

2.1 Introduction of the company

2.1.1 History of establishment and development of Baker Tilly A&C

One of the top independent auditing firms in Vietnam's auditing sector, A&C Auditing and Consulting Co., Ltd was founded under Ministry of Finance Decision No.

140/TC/QD/TCCB dated March 26, 1992 as the Southern Branch of Vietnam AuditingCompany (VACO) The Southern Branch was then changed into A&C Auditing and

Consulting Company by Decision No 107/TC/QD/TCCB, which was issued by the

Minister of Finance on February 13, 1995

A&C Auditing and Consulting Co., Ltd, which has been in business since 1992, is

proud to be among the top independent audit firms in Vietnam and the first company

to successfully implement two ownership transformations in accordance with the lawand the Ministry of Finance's regulations

In 1992, the company was established as a state-owned enterprise under the Ministry

of Finance According to Decision No 1962/QD-BTC dated 30/6/2003 of the Ministry

of Finance, A&C Auditing and Consulting Company changed its ownership status

from a State-owned enterprise to a State-owned Joint Stock Company on December 9,

2003 The company went by the name A&C Auditing and Consulting Joint Stock

Company and operates under the business registration certificate No 4103001964

issued by the Department of Planning and Investment of Ho Chi Minh City

A&C Auditing and Consulting Joint Stock Corporation joined HLB International, a

global accounting, auditing, and consulting company with headquarters in the UK, as

an official member in January 2004

A&C Securities Auditing and Consulting Joint Stock Company became one of the firstauditing firms to be authorized by the State Securities Commission to audit securitiesissue and trading organizations and approved by the State Bank on September 22,

2004, in accordance with Decision No 76/2004/QD-BTC of the Ministry of Finance

on the Regulation on Selection of Audit Companies Approved for Issuers, Listing

Organizations, Securities Trading Organizations, etc Vietnam permits audits of its

commercial banks and lending organizations

According to the business registration certificate No 4102047448 issued by the

Department of Planning and Investment of Ho Chi Minh City, "A&C changed

ownership form for the second time from a joint stock company to a limited liability

company with 02 or more members with the name of A&C Auditing and Consulting

Company Limited" in 2007 This was done to implement Decree Nos

105/2004/ND-CP and 133/2005/ND-105/2004/ND-CP of the government on independent audit

May 2010, A&C Auditing and Consulting Company Limited is an official member of Baker Tilly International Auditing Group, one of the top 10 accounting, auditing and

consulting organizations in the world, with a total annual income of up to 3.9 billion

USD Baker Tilly International also owns a team of experienced employees in many

fields with up to 36,300 employees in 122 member companies in more than 146

countries, the company's headquarters is at the Global Office, Juxon House, 100 St

Paul's Churchyard, and London, EC4M 8BU, United Kingdom

After a long time of operation, A&C has developed and expanded its network with

branches located in major cities throughout the country: Hanoi, Nha Trang, Can Tho

In March 2015, A&C excellently obtained the certificate of Top 10 Most Trusted

Enterprises in Vietnam granted by the Scientific Center for B kusiness Credit

Appraisal and maintained the title for the next 2 years

Up to now, after more than 30 years of operation, A&C has continuously grown in

quantity and quality of services provided domestically and internationally and

achieved certain achievements in the industry

Approved by:

- Licensed by the State Securities Commission to audit joint stock companies

listed on Vietnam's stock market, public companies and securities companies

- The State Bank of Vietnam permits the audit of banks and credit institutions

operating in Vietnam

- Non-governmental organizations allow audit of projects funded by these

Organizations

- Being acollective member of the Vietnam Association of Certified Public

Accountants (VACPA); Member of Vietnam Business Club (VBC) andCollective member of Association of these Organizations Vietnam TaxConsultant (VTCA)

2.1.2 Company type

Baker Tilly A&C is a limited liability company with 02 or more members with the

name of A&C Auditing and Consulting Company Limited according to the

business registration certificate No 4102047448 issued by the Department ofPlanning and Investment of Ho Chi Minh City Ho Chi Minh

- 02 Truong Son, Ward 2, Tan Binh District, HCMC

- 40 Giang Vo, Cat Linh Ward, Dong Da District, City Hanoi

- I5-13, Vo Nguyen Giap Street, Phu Thu Ward, Cai Rang District, Can Tho

- Lot STH 06A.01 Street 13, Urban Area Le Hong Phong II, Phuoc Hai

Ward, Nha Trang2.1.4 Field of activity

2.1.4.1 Auditing and assurance services

Auditing financial statements is considered a central activity of A&C A&C always

wants to bring the best service quality

The auditing firm is built on the core principle:

- Comply with Vietnamese and international standards and practices

- Comply with the requirements of professional ethical standards:

Independence, Integrity, Objectivity, prudence, and confidentiality ofinformation obtained during the audit

- Comply with laws and internal regulations

- In line with the business practice of the enterprise

The audit process of A&C always supports providing information and consulting,

contributing to perfecting the internal control system, accounting organization, and

financial management of the enterprise In many cases, A&C also helps businesses

protect their legal right and legitimate interests

In addition to the regular financial statement audit, A&C also provides on-demand

services such as internal audits, performance audits, compliance audits, and financial

information audits

2.1.4.2 Consulting service

- Tax consulting: support tax declaration and finalization, tax advice and review

compliance, tax inspection support, tax planning

- Consultancy on determining associated transaction price: planning and

preparing appropriate transfer pricing documents, identifying risks, and

managing associated transaction prices,

- Operational consulting: developing operating regulations, internal control

processes and systems, capital budget planning, financial strategy consultingand cash flow management, operational risk consulting

- Business consulting: investment project appraisal, business restructuring,

mergers and acquisitions consulting

2.1.4.3 Legal consulting service

The legal environment is relatively complex and frequently updated, and it consumestime and resources to learn and carry out legal procedures, but it still fails to promptlyupdate changes in legal documents So outsourcing legal services as a solution helps

businesses not need to worry about legal issues Understanding this need, A&C also

provides legal services such as legal advice on investment and business establishment,legal advice on trade, legal advice on labor, consulting services other legal matters

2.1.4.4 Accounting service

With a team of experts who understand Vietnamese and international practices, and

have many years of practical working experience in enterprises; Accounting services

provided by its subsidiary, Dong Khoi Accounting Services Co., Ltd will surely

satisfy clients

Services provided include:

- Record accounting books, and prepare financial statements, tax reports, and

other reports at the request of clients

- Help to convert financial statements, the Vietnamese accounting system

into a form suitable for widely accepted accounting practices.

- Install accounting software

- Organize training and recruitment of accounting personnel according to the

requirements of the business2.1.5 Management structure

Can Tho branch

Figure 1: Management struture

corporate office

financial statement audit

DGD Nguyen Chi DGD Ho Van Tung DED Ly Quoc

Baker Tilly A&C implements the sample audit program of VACPA (Vietnam

Association of Certified Public Accountants) and is regularly updated

ác chức nang của ACFMS à

1 Dang nhập 16 Refresh

2 Đổi mật khẩu 17 Giao diện hồ sơ

3 Đăng xuất 18 Xem thành viên

4 Thoát chương trình 19 Phân quyền thư mục

5 Tạo hồ sơ mới 20 Làm mờ/Hiễn thi tập tin/thư mục

6 Tải hồ sơ 21 Ẩn/Hiện thư mục

7 Chỉnh sửa hồ sơ 22 Chuyén quyên tập tin

8 Sao chép hồ sơ 23 Khoá tap tin (Ctrl + L)

9 Chuyén quyền hồ so 24 Khoá hồ so

10 Đặt ngày mặc định/sửa ngày 25 Mở khoá và duyệt (Ctrl + U)

11 Đóng/Mở hồ sơ 26 Mở khoá hỗ sơ

12 Lưu trữ hồ sơ 27 Bỏ duyệt

13 Xoá hồ sơ trên máy tính 28 Xuất PDF

14 Thêm cửa số mới 29 Xuất hồ sơ

15 Đồng bộ dữ liệu

Figure 3 Audit tools ACFMS

2.2 AUDIT PROCESS IN AUDITING THE FINANCIAL STATEMENTS OF

A&C COMPANY.

2.2.1 Prepare Audit Plan

2.2.1.1 Collect information about clients:

For new clients, determine whether to accept or reject the audit based on the client's

reasons for inviting an audit, its business, financial situation, client management

integrity, preliminary assessment of materiality and potential risks in the client's

business activities

For previous clients: Check to see if the audit contract's content needs to be modified

Especially when there is a disagreement between the two parties about the scope of the

audit If auditor accept the audit, proceed to the next stage

2.2.1.2 | Assign auditors

The audit firm needs to estimate the complexity of the audit, then select the

appropriate staff to prepare for the audit

2.2.1.3 Sign engagement letter

Based on the detailed audit program, the auditors perform the audit procedures

- Tests of controls to evaluate the effectiveness of the client's internal control

system.

- Analytical procedures: Understanding the relationships between data to identify

trends or unusual signals, thereby assessing risks and localizing materialmisstatements, allowing overarching conclusions to be drawn without test toomany samples

- Substantive procedures (to check details of transactions, account balances, etc.)

Going into the actual audit at the enterprise, the auditor must do the following specifictasks:

- Engaging in physical inventory of items such as money, goods, finished

products, semi-finished products, production tools, fixed assets, etc at theclient's business and recording it

- Examine the arising transactions that increase and decrease over time.

- Verify and reconcile the balances in the expense accounting books, general

accounting books, the general journal, the balance of arising numbers, the

audited year's and previous year's financial statements, the audited year'sdepreciation spreadsheet and last year

- Income from checking and comparing contract documents, invoices, acceptance

minutes, liquidation minutes, payment slips, receipts, bank debt statements,related party letters of confirmation, client interviews, and so on

- Discuss further issues, additional entries, and adjustments with client (if any)

2.2.4 End of audit:

After completing the audit procedure, the Auditor prepares a "summary of audit

results" table after completing the procedures for managing and inspecting details

linked to fixed assets accounting data This work is based on the outcomes of workingpapers that were completed with accurate evidence

The audit results summary clearly shows:

- Non-material misstatements must be adjusted and then compared to the amount

of misstatement that can be ignored to determine if they are acceptable or not

- Whether the total number of misstatements discovered during the audit

surpasses the materiality of the financial statements

- Causes of deviation (if any) and adjustment entries

- Auditor's opinion on the client's internal control system

- Excluding factors noted by the auditor (if any).

- Evaluation of the objective of the audit (passed or not achieved)

- The auditor must issue the audit report based on the audit summary table

2.3 Illustrate the process of auditing financial statements of fixed assets accounts at

company A&C applied to company A

The process of auditing the financial statements of fixed assets at company A&C

applied to company A is described in diagram 3

+ Thu thập thông « tim hiểu hỗ sơ pháp « Thử nghiệm cơ tin về khách hàng: lý, môi trường kinh bản

« Phân công kiểm doanh, hệ thong kiểm ® Thử Nghiệm toán viên soát nội bộ, hệ thống Hiểm soát

Hiểm toán viên lập kế

hoạch kiểm toán tổng

quát và chương trình

kiểm toán chỉ tiếc.

Figure 4 Fixed asset audit process

2.3.1 Prepare Audit plan.

2.3.1.1 Getting understanding of client’s business environment, operation and process

General information about customers:

- Type of business: Limited (with two or more members)

- Business registration certificate No 36007536XX issued on May 22, 2019 by the

Department of Planning and Investment of Dong Nai Province

- Charter capital: 25 billion VND

- Field of business: Trade

This year is not the first year A&C has audited the financial statements of Company A, soA&C does not need to carry out the first year audit procedures Despite being an old

client, A&C still has to do some research based on Appendix 01-5.03: Accepting clients.Through Appendix 01, we see some basic information as follows:

The Company has a change in the Board of members/management, the Board of

Directors There is no adverse information related to clients and the BOD/BOM in the

mass media Audited financial statements are used to serve the consolidation of financial

statements, management needs of the Union, and submission to tax authorities The

company is a part of the structure of the Ho Chi Minh City Union of Commercial

Cooperatives, with mutual investment, trading, and service provision activities After

getting to know the client, the auditor decides to continue accepting the client, and sign

the engagement letter

See Appendix 01-5.03: Accepting clients

2.3.2 Audit plan

2.3.2.1 | Prepare documents for the audit of fixed assets

After signing the contract, A&C company requires the company to provide the followingdocuments:

Ledger, general diary, general ledger, expense book related to fixed assets, expense

book of construction and dismantling, shall be collected separately for each work.

Trial balance

Audited year financial statements

Report of increase and decrease of fixed assets during the year.

The summary of fixed assets reflects the historical cost, depreciation of the year,accumulated depreciation, residual value of balance at the beginning of the yearand balance at the end of the year of each type of asset

Spreadsheet and amortization for the year

Legal documents related to fixed assets, capital construction, increase or decreaseduring the year such as construction permits, cost estimates, contracts, handover

minutes, contract liquidation minutes bills, payment vouchers

Set of inventory records at the end of the year.

The records and documents are kept by the auditor according to regulations

2.3.2.2 Accounting policies of fixed assets apply at company A

Company A classifies Fixed assets as follows:

Tangible fixed assets

Type 1: Buildings and structures: an enterprise's fixed assets formed after the constructionprocess such as offices, warehouses, fences,

Type 2: Machinery and equipment are all types of machinery and equipment used in

business activities of enterprises such as specialized machinery, working equipment, oil

and gas rigs, cranes, and ropes,

Type 3: Means of transport, transmission equipment: means of transport include means oftransport by rail, water, road and air, pipelines and transmission equipment such as

information systems, electrical systems, water pipelines, conveyors

Type 4: Management equipment and tools: equipment and tools used in the management

of business activities of enterprises such as computers for management, electronic and

measuring devices and instruments,

Type 5: other fixed assets: assets that do not fall into the above 4 categories

Intangible fixed assets: land use rightsEnterprise don't have leases assets

Accounting policies applied to fixed assets:

Tangible fixed assets:

o Tangible fixed assets are stated at cost less accumulated depreciation The

historical cost of tangible fixed assets includes all costs incurred by theBranch to acquire the fixed assets up to the time of bringing such assets tothe ready-for-use state Expenses incurred after initial recognition are onlyrecorded as an increase in cost of fixed assets if these costs are certain toincrease future economic benefits from the use of such assets Expensesincurred that do not satisfy the above conditions are recorded as productionand business expenses in the year

When tangible fixed assets are sold or disposed of, their cost andaccumulated depreciation are written off and any gain or loss arising fromthe disposal is recognized in income or expenses during the year

Tangible fixed assets are depreciated on a straight-line basis over theirestimated useful lives Depreciation years of tangible fixed assets are asfollows:

= Type of fixed asset Number of years

e Buildings and structures 05 — 50

e Machinery and equipment 03 — 20

e Equipment and tools for management 03 — 10

e Other fixed assets 02 — 20The accounting period of company A is from January | to December 31 every

year

2.3.2.3 | Developing audit Plan, audit program applied to company A

Developing audit Plan:

After signing an audit contract, gathering client information, and gathering relevantdocuments, the Company develops audit plan that clearly states: audit strategy,

audit scope, considering independence, risks including misstatment and fraud

Assign auditors to be in charge of audit activities, and the team leader informs

team members of the work plan.

- In general, the internal control system of Company A is evaluated by the auditors

quite well No fraud has been detected in the past

- However, because it is an enterprise operating in the field of commerce, the auditor

only identifies risks in the process of importing and exporting goods, revenue, andthe asset item in the year The incurred cost increased by more than 6 billion VND,due to the completion of capital construction investment, cost reduction due to

liquidation of more than 1.2 billion unspecified risks due to misstatements orfrauds

See Appendix 02 — 5.02: Audit strategy and plan

Audit program

At A&C Company, the audit program is developed by the team leader according to the

model audit program of the Vietnam Association of Certified Public Accountants

(VACPA) with appropriate adjustments

Specifically, the audit program on fixed assets, contruction in progress applied at

Company A was developed by A&C company in according to Appendix BHc: It clearly

states:

Objective:

- Fixed assets exist (Existence)

- Owned by the enterprise (Rights and obligations)

- Cost and depreciation are recorded fully, accurately and in the correct accounting

period (Accuracy, valuation and allocation)

- All fixed assets that should have been recorded have been recorded and all

related disclosures that should have been included in the financial statements

have been included (Completeness)

- Fixed Assets have been recorded in the proper accounts (Classification)

- Fixed assets presented in the financial statements in accordance with the

applicable financial reporting framework (Presentation)

The audit program helps the audit to have a scientific work order to avoid overlapping,

making it easier to assign the auditors

The audit program is illustrated by Appendix 03 — BHc: Audit program

2.3.2.4 Determine the level of materiality.

The audit team leader, after discussing with the Director/Chairman and the Deputy

General Director in charge, will determine the materiality of the entire financial

statements.

At A&C, the ratios used to calculate materiality are as follows:

Total assets: 1% - 2%

Net assets: 1% - 5%

Net sales: 0.5% - 3%

Profit before tax: 5% - 10%

- Determine overall materiality = item selected’s value * percentage

- Percentage of individual materiality over overall materiality is 50% - 75% Which

ratio to choose depends on the auditor's judgment for each specific client

- Insignificant misstatments threshold = 4% of performance materiality

At Company A, the auditor determines overall materiality based on 10% of profit before

tax

Table 1: Materiality

BCTC nam nay Current year financial

Dy kiến năm nay

(Ghi chú 3) / Current BCTC năm trước /

statements year budget (Note 3) Prior year's financial statements

Doanh thu thuần / Net sales 380,456,322,773 380,456,322,773 379,724,520,980 445,826,699,390.

Mite trong yếu / Materiality level

Giai đoạn lập kế hoạch [I] / Planning stage [1]

Ty lệ mức trong yếu thực hiện trên mức trong yêu tông thé (50% - 75%) [J] /

Percentage of individual materiality over overall materiality (50% - 75%) [J] 75% 15% 15% 75%

Mức trọng yếu thực hiện [K] / Performance materiality [K] 1,500,000,000 1,500,000,000 1,500,000,000 1,725,000,000

Ngưỡng sai sót có thé bỏ, qua (4% của K) / Threshold (4% of K) 60.000.000 60,000,000 60,000,000 69,000,000

Giai đoạn thực hiện va dua ra ý kiến / Execution and opinion stage 2,000,000,000 | 2,000,000,000 2,300,000,000

- The rate of 10% of pre-tax profit is the ratio within the allowable framework of the

pre-tax profit target that A&C company builds If using other indicators, that ratio

must change according to the framework.

For example: If it is:

- Revenue target, the ratio is 0.5 -3%

- Net assets: the ratio 1s 1-5%

In general, the criterion selected as the criterion for calculating materiality is often the one that is of great interest to many people and the misstatements will affect the decisions of

users of financial reporting information

risk level of the audit areas, consider risk mitigating factors, and applicable samples.

The auditor examines and decides the risks of material misstatement (high, medium, andlow) in each audit area, taking into account the risk factor applied to each case The

primary risks that must be evaluated and assessed are classified as follows by A&C

Auditing Company Limited: inherent risk, analytical risk (as part of detection risk), and

2.3.3.2 Audit program on fixed assets is applied at A&C

* Based on the audit program for fixed asset items (Appendix 03-BHc: audit program),

the auditors shall carry out the following audit procedures:

- Lead schedule (for general description of existing fixed assets)

- Accounting policies (learn about company A's accounting policies for fixed assets)

- Analytical procedures (to achieve completeness, existence, accuracy)

- Substantive procedures

o BH2: Comparing data (to achieve completeness, accuracy)

o BHs3: Increase and decrease of fixed assets (to achieve Existence, Rights

and obligations, Completeness, Accuracy, valuation and allocation,Classification)

o BH3.1: depreciation of fixed assets (to achieve Existence, Rights and

obligations, Accuracy, valuation and allocation goals)

o BH4.1: increase or decrease of construction in progress (to achieve

Existence, Rights and obligations, Accuracy, valuation and allocation,Classification)

o BH5S: Information on fixed assets and construction in progress mortgaged

and commitments to purchase fixed assets (to achieve Completeness,Rights and obligations)

o BHó: Review of events after the balance sheet date (to achieve

completeness, accuracy, existence, valuation and location)

- Scrutitny : Ensure suspicious transactions have been fully detected, checked and

explained (in order to achieve accuracy and classification goals)

- Presentation and disclosure (to achieve the goal of completeness, classification)

Procedure 1: Leadsheet

Objective:

- This table shows the complete picture of fixed assets, including the beginning and

final numbers of historical costs, accumulated depreciation, and construction in

process.

- Show what kinds of assets the company currently possesses

- Displays the fluctuation of historical cost, depreciation value, and construction in

progress during the audit year

What procedures should be carried out:

- Create a summary of fixed assets and construction in progress using the balance

sheet data

- Reconcile the opening balance of the enterprise's accounting books with the

audited previous year's financial statements

- Reconcile the ending balance with the arising ledger and balance sheet Normally,

auditors will get data from 5-6 administrative files, sheet FS

Conclude:

- The company has updated the data, the opening number of the period matches the

ending number of the previous year

- The number of arising increases, arising decreases, and the number at the end of

the audit year matches exactly on the detailed book

Table 2 BHO Summary sheet of fixed assets and construction in progress

(50,026,971,819) - (30,026,971,819) (46,436,136,716) - (46,436,136,716) BHay

y y Ỳ y r r

4,059,262,350 4,059,262,350 4,436,868,150 4,436,868,150 9,440,145,000 = 9,440,145,000 9,440,145,000 - — 9,440,145,000 BHq; (5.380.882.650) = (5.380,882.650) (5.003.276.850) - (%003276,850) BHQ¿

t + r r

: - - 2,771,585,542 - — 23771585842 BHq, B/S; BSL BS LPB BS

ˆ

Table 3 BH0.1 Increase or decrease of tangible fixed assets

Nhà cửa, Máy móc Phương tiện vận Thiết bị, dụng Tải sản

vật kiến trúc va thiết bị tải, truyền dan cụquan lý có định khác Cộng WP ref

Table 4 BH0.3 Increase or decrease of intangible fixed assets

Quyên.

sử dung dat Cong WP ref

Nguyen gia

Số đâu kỳ 9.440.145.000 9.440.145.000 BH2Mua trong kỳ - -

Tao ra tir nội bộ Công ty

Đã khâu hao hét nhưng vẫn còn sử dung

-Gia tri hao mon

Số đâu kỳ 5.003.276.850 5.003.276.850 BH43.1 Khẩu hao trong ky 377.605.800 377.605.800

Tăng khác (ghi cụ thé)

Thanh ly, nhượng ban

Giảm khac (ghi cụ thé)

Trong do: BHO

Tam thời không sử dung

Dang chờ thanh ly

-Table 5 BH0.4 Increase or decrease in unfinished construction assets

Số đầu kỳ bọn n eae Phun Số cuỗi kỳ WP ref

Mua sắm tai sản cô định 813,243,606 (813,243,606) | BH,

Xây dựng cơ ban dé dang 2,771,585,542 2,506,274,688 (5,255,132,957) (22,727,273)

Hang mục hệ thông phòng cháy chữa cháy 2,74§,858,269 32,306, 274,688 (5,253,132,957)

Thẩm định quyên sử dung đất 22,727,273 (22,727,273)

Cộng 2,771,585,542 3,319,518,294 (6,068,376,563) (22,727,273) BH4

Procedure 2: Check the accounting policy of fixed assets apply.

Objective:

- Ensure that the policies applied by the entity are consistent with the accounting

policies issued by the government

- Ensure consistency between accounting periods

What procedures should be carried out:

- Interview with accounting staff and relevant people

- Select a test sample on how to determine historical cost, Depreciation method

Conclude:

- Accounting for tangible fixed assets complies with VAS 03, intangible fixed assets

comply with VAS 04, the entity has no financial lease transactions

- Accounting for fixed assets applies Circular 200/2014/TT-BTC and Circular

45/2013/TT-BTC

- Residual value = historical cost - accumulated depreciation

- Record keeping on the principle of continuity and consistency.

- Recorded a complete fixed asset book, including a general accounting book, a

detailed accounting book, a fixed asset card that is tracked separately for each

asset.

- The entity has applied accounting policies in accordance with regulations

See Section II, Appendix 03 — BHc: Audit Program

Procedure 3: Analytical procedures

Based on the newly prepared Summary Table, the auditor can see the fluctuations of fixedassets, construction in progress, along with the auditor's understanding of the entity's

operations, the auditor will determine whether such changes are consistent with the

previous year's depreciation expense, assessing the effect of an increase/decrease of fixedassets for depreciation expense

Objective:

- Review the overall assessment of fluctuation of fixed assets and

construction in progress

What procedures should be carried out:

- Reconcile the balance at the end of this period with the end of the previous

period, the depreciation expense for this period with the previous period,and find out the reason for the fluctuation

Table 6 Analytical procedures

16 Số cuối ky Số đầu ky Số tiền %

17 Tài san cố định hữu hình 28,827,956,572 27,560,770,556 1,267,186,016 4.60%

18 - Nguyên giá 78.854.928.391 73.996.907.272 4.858.021.119 6.57%

19 - Giá trị hao mòn lũy kế (50.026.971.819) (46.436.136.716) (3.590.835.103) 7.13%

23 Tai sản cỗ định vô hình 4,059,262,350 4,436,868,150 (377,605,800) 8.51%

24 - Nguyên giá 9,440,145,000 9,440,145,000 - 0.00%

25 - Giá trị hao mòn lũy kế (5,380,882,650) (5,003,276,850) (377,605,800) 7.55%

26 Chi phí xây dựng cơ bản dỡ dang - 2,771,585,542 (2,771,585,542) -100.00%

32 Kỳ này Kỳ trước Số tiền %

33 Chỉ phí khấu hao TSCĐ hữu hình 4,801,190,547 4.111.331.882 6§9,858.665 16.78%

35 Chi phí khấu hao TSCD vô hình 377.605.800 377.605.800 - 0.00%

36 Cộng 5,178,796,347 4,488,937,682 689,858,665 15.37%

This year, historical cost of tangible fixed assets increased slightly by4.8 billion VND, an increase of more than 6.57% mainly because this

year the company transferred from the construction of the emergency

smoke extraction system and the fire protection system in progress

The cost of construction in progress decreased sharply by more than 2.7billion VND because this year the comapany completed the fire

prevention work and conducted the acceptance test and transferred it tofixed assets

Depreciation expense this year also increased compared to the previousyear because the comapany continued to depreciate depreciated assetsand new assets transferred from fixed capital construction to tangiblefixed assets

Conclusion: fluctuations in fixed assets, construction in progress and

depreciation expenses are reasonable with the business situation of the client

Procedure 4: Substantive procedure

Test 1: Data reconciliation

Objective:

Ensure that the data in the financial statements are appropriate.