Agreed-Upon Procedures (AUP)
VSRS 4400 · procedures agreed with the relevant parties · factual findings · no audit opinion, review conclusion or other assurance conclusion.
3
Offices
Hanoi · Ho Chi Minh City · Hai Phong
3
Client-service languages
English · Vietnamese · Traditional Chinese
6
Specialist Teams
Across 4 Service Departments
Built on Professional Knowledge
Knowledge before professional judgment. Evidence before conclusions.
Complex advisory requires more than experience. IPAS combines continuous professional learning, disciplined technical judgment and verifiable evidence to develop solutions that can be implemented and withstand independent scrutiny.
KNOWLEDGE · DISCIPLINE · EVIDENCE · VALUE
Our Services
All services
Specialist teams for the issues that matter most
Each team brings specialist capability to a defined area and may work across departments according to the subject matter, scope and intended use of the work.
CARA
Specialist Team
CMAS · Department
Capital Advisory, Restructuring & Accounting
Capital · IPO readiness · debt · balance-sheet remediation · long-outstanding balances · complex accounting
Details FAIR Specialist Team CMAS · DepartmentForensic Accounting, Investigations & Dispute Support
Fund tracing · fraud indicators · shareholder matters · forensic due diligence
Details FOSA Specialist Team GSA · DepartmentFamily Ownership & Succession Advisory
Ownership · governance · DOA · owner oversight · succession
Details IBA Specialist Team ISD · DepartmentInternational Business Advisory
FDI · capital · ERP · transfer pricing · international tax
Details TASC Specialist Team ISD · DepartmentTrade Advisory, Supply Chain & Customs
Customs · trade · BOM · inventory · finalization readiness · post-clearance review
Details CATA Specialist Team CATS / ISD · DepartmentCorporate Accounting & Tax Advisory
Accounting · Chief Accountant · tax · compliance · targeted reviews
DetailsIntegrated Cross-Practice Advisory
Special reviews, internal control & factual findings
Available to Vietnamese and FDI enterprises. The lead specialist team depends on the subject matter; scope, methodology, deliverables and intended users are agreed before work begins.
Targeted Financial & Accounting Reviews
Specified accounts · transactions · assets · costs · reconciliations · supporting records · defined reporting purpose.
Internal Control Review
Assess control design and operation; reference the COSO Framework where appropriate; identify control gaps and develop a Risk & Control Matrix (RCM), Delegation of Authority (DOA), risk indicators and remediation actions.
Internal Audit Advisory & Co-sourced Support
Support boards, audit or supervisory bodies and management with methodology, policy design, risk-based planning, work programs, high-risk thematic reviews and recommendation follow-up.
Typical Deliverables
- AUP Report of Factual Findings
- Internal Control Review Report
- Risk & Control Matrix (RCM)
- Delegation of Authority Matrix (DOA)
- Management Recommendation Letter
- Remediation & Follow-up Tracker
- Internal Audit Methodology / Risk-Based Plan, where included in the advisory scope
AUP is a related service and does not provide an assurance conclusion. Depending on the contracting entity, professional capacity, intended use and responsible practitioner, an AUP engagement may be performed and reported by IPAS or IAV under separate engagement responsibility. Internal Control Review and Internal Audit Advisory & Co-sourced Support are advisory services and are not described as replacing a client's internal audit function. A Management Recommendation Letter is an IPAS advisory deliverable and is not presented as an audit management letter.
Selected Experience
View all
Selected client situations (anonymized)
These examples are based on engagement themes handled by IPAS. Client names, transaction values, contractual terms and other identifying information are intentionally omitted or generalized to protect confidentiality.
Financial Restructuring & Long-Outstanding Balance Remediation
- Situation
- A private enterprise faced long-standing balance-sheet issues before considering new capital and changes to its operating structure.
- Our Work
- IPAS reviewed historical balances, funding flows, accounting records and available supporting documentation, then developed a structured remediation and restructuring roadmap.
- Outcome
- Management received a documented issue register, remediation priorities and a clearer basis for capital and restructuring decisions.
Relevant Capabilities
CARAFAIR
Read more
Cross-Border ERP & Statutory Accounting Alignment
- Situation
- An FDI enterprise operating a centralized overseas ERP needed to align group accounting logic with Vietnamese statutory reporting requirements.
- Our Work
- IPAS reviewed transaction mapping, accounting logic and reporting outputs and developed a structured local-reporting framework.
- Outcome
- The business obtained a controlled mapping approach with clearer ownership of local statutory adjustments and reporting rules.
Relevant Capabilities
IBACATA
Read more
Family Business & Succession Readiness
- Situation
- A privately owned business preparing for a generational transition needed to address historical accounting matters and clarify future ownership and governance arrangements.
- Our Work
- IPAS supported the assessment of long-outstanding balances, ownership considerations, governance controls and succession readiness.
- Outcome
- The owners received a structured roadmap linking financial remediation, governance decisions and succession actions.
Relevant Capabilities
FOSACARA
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Financial Fact-Finding in a Shareholder Matter
- Situation
- Concerns regarding selected transactions and related-party relationships required a targeted financial fact-finding review to establish a clearer basis for shareholder discussions.
- Our Work
- IPAS reviewed available accounting, banking and transaction data, identified relevant exceptions and prepared a structured financial analysis subject to the agreed scope and available evidence.
- Outcome
- Decision-makers received a documented set of factual findings, identified exceptions and quantified items for further action where appropriate.
Relevant Capabilities
FAIR
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Customs, Accounting & Transfer-Pricing Reconciliation
- Situation
- An FDI manufacturer required greater consistency between customs data, accounting records, costing and related-party transaction documentation.
- Our Work
- IPAS reconciled relevant data flows and supported a more consistent documentation framework across accounting, customs and transfer-pricing workstreams.
- Outcome
- Management obtained a clearer exception list and a more consistent data basis for compliance and explanations to tax and customs authorities.
Relevant Capabilities
TASCIBA
Read more
Supply-Chain Internal Control & Owner Oversight
- Situation
- A fast-growing manufacturer needed stronger controls across procurement, warehousing, materials and commercial discounts, with selected procurement issues requiring further review.
- Our Work
- IPAS reconstructed key Procure-to-Pay and Inventory-to-COGS flows, reconciled accounting and operational data, and designed an RCM, DOA and exception-reporting framework.
- Outcome
- The control framework clarified approval authority, key control gaps and reporting points for owner / board oversight.
Relevant Capabilities
FAIRCATATASC
Read more
How We Work
Methodology
Substance, evidence & execution
We establish the facts, quantify the issue, evaluate practical options and support implementation with a documented audit trail.
- ContractOrders & terms
- ShipmentLogistics documents
- InvoiceCommercial & VAT
- CustomsDeclarations & HS codes
- PaymentBank cash flows
- AccountingLedgers & costing
- TaxCIT · VAT · FCT
- Transfer PricingSupporting documentation
No material conclusion is released without sufficient supporting evidence and an appropriate audit trail.
Professional Network
Separate legal entities · complementary capabilities
IPAS, IAV and YUHICHY are separate legal entities. Each is separately engaged where applicable and remains responsible for its own scope, professional judgment and issued work products.
IPAS
Specialist Advisory & Related Services
Capital-markets readiness · restructuring · forensic accounting · family governance & succession · international business · accounting & tax · customs-related advisory · AUP where professionally applicable.
Learn moreIAV
Independent Audit & Valuation
Statutory audit · review and other assurance engagements · project-completion audit · valuation within permitted scope. Related services such as AUP are separately engaged and are not assurance.
Learn moreYUHICHY
Trade, Logistics & Field Operations
Logistics · warehousing · movement records · inventory counts · field evidence and operational data within its separately agreed service scope.
Learn moreSeparate legal entities · Complementary capabilities · Defined engagement responsibilities
Where more than one entity is involved, contracting entity, scope, responsibilities and reporting lines are agreed before work begins. Coordination does not override IAV's independent engagement acceptance, professional judgment or reporting responsibility.
Our Identity
The IPAS Standard
A professional identity expressed consistently, from the way we develop expertise and document our work to the way we engage with clients.
Knowledge & Insights
All insights
We learn, test, document and share.
IPAS publishes selected technical perspectives designed to help decision-makers understand regulatory developments, complex accounting and tax issues, governance questions and recurring themes from advisory work.
Technical Notes
Focused analysis of technical accounting, tax, governance and transaction issues.
Regulatory Updates
Selected developments with practical relevance for businesses operating in Vietnam.
Case Insights
Anonymized client situations and what we learned from them.
Professional Learning
Learning notes that strengthen professional judgment, documentation quality and implementation discipline.
The Multi-Member LLC: replicating family trust protections under Vietnamese law
In the absence of a statutory Private Trust regime under Vietnamese Civil Law, business families face severe asset fragmentation during intergenerational succession. Discover how a tailored Multi-Member LLC (Family Holding) serves as the institutional alternative to an offshore trust under the Law on Enterprises 2020.
Decree 255/2026/ND-CP on related-party transactions: what FDI enterprises should prepare
Decree 255/2026/ND-CP took effect on 1 July 2026 and applies from the 2026 CIT period. FDI enterprises should now revisit their related-party map and supporting documentation.
Resolving long-outstanding balances in accounts 111/138/141 before a founder-to-next-generation handover
Long-outstanding cash, advances and other receivables are a common legacy of family businesses. Resolving them properly requires economic substance, not journal entries.
