Switching from Vietnamese Accounting Standards (VAS) to International Financial Reporting Standards (IFRS) brings numerous advantages to businesses. These include greater transparency, reduced capital and reporting costs, and increased competitiveness in the global market.
Why Adopt IFRS?
Enhanced Transparency and Global Access
- IFRS narrows the information gap between internal management and external stakeholders, improving accountability. With IFRS-compliant financial statements, businesses gain access to international capital markets, boosting their reputation and brand value.
Minimized Capital and Reporting Costs
- By adopting IFRS, businesses can streamline their financial reporting into a single set of statements, reducing costs associated with capital mobilization and report preparation. This also enhances the reliability of financial information, making it easier to attract foreign investment.
Improved Competitiveness
- IFRS adoption standardizes financial metrics, providing a common framework for benchmarking business performance. This enables companies to assess strengths and weaknesses, strategize more effectively, and enhance their market competitiveness.
Global Investor Confidence
- Adopting IFRS signals a commitment to the highest financial standards, offering businesses a passport to nearly every capital market worldwide.
KMC’s IFRS Conversion Services
Ready to Transition to IFRS?
KMC’s expert team is ready to assist your business in transitioning to IFRS. Contact our advisory department for professional support and answers to any questions you may have.
Accounting Advisory
KMC provide professional initial accounting and tax registration services, you shall not bother about issues related to tax and accounting after post license. Our team with high expertise and many years experiences will support and accompany you.
Taxation Advisory
Our tax services rely on our local knowledge to ensure tax compliance, tax administration and dealing with tax authorities. We assist you by taking into account the latest regulations thus ensuring full tax compliance and optimization.
Business Advisory
KMC believes in an approach to our client, as we familiarize ourselves with all aspects of your business and the environment in which you operate, it enables us to propose you the most appropriate plan at a competitive service fee.
Human Resources (HR) and Payroll Advisory
KMC’s service will help businesses fully comply with Vietnam’s regulations, optimize costs, and prevent risks in advance.
Mergers and Acquisitions (M&A) Advisory
Our global network in combination with our deep industry knowledge means that we can help companies identify other businesses that offer a good strategic fit and assist them with acquisitions, mergers and alliances that allow them to maintain and build their competitive advantage.
Transfer Pricing Advisory
Transfer pricing refers to the rules and methods for pricing transactions between related entities, typically within multinational companies. Currently, regulations on compliance of transfer pricing are very complexly and strictly.
Annual Consulting Services
KMC has the expertise with experienced resources, including lawyers, auditors, accountants who have many years of experiences working in the investment, accounting, taxation and labour consulting fields.
Other Services
Besides Accounting, Taxation, Business Services, etc. KMC also has efforts to provide other services to Clients related to business activities of the enterprises in Vietnam.
