Viet Nam Accounting and Auditing Journal

IFRS S1 AND S2: GLOBAL SUSTAINABILITY REPORTING STANDARDS AND STRATEGIC IMPLICATIONS FOR VIETNAMESE ENTERPRISES

PGS.TS. Nguyễn Đăng Huy Trường Đại học Kinh doanh và Công nghệ Hà Nội — Fri, 05 Sep 2025 00:00:00 +0700

n the context of the global economy shifting strongly towards green, circular and carbonneutral development, transparency and standardization of sustainability information have become core requirements to maintain market confidence and mobilize international capital flows. In 2023, the International Financial Reporting Standards Board (ISSB - under the IFRS Foundation) issued two key standards: IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climaterelated Disclosures). This is considered a historic turning point, establishing the first global standard framework for sustainability disclosure, moving beyond the voluntary fragmentation of previous standards (GRI, SASB, TCFD, etc.) to a unified, comparable and directly linked reference system with financial performance.

This paper approaches the research direction of concepts - standards - practices, aiming to: (i) analyze the theoretical foundation and core content of IFRS S1 and S2; (ii) clarify the academic and practical significance of these standards in reshaping corporate disclosure behavior; (iii) assess the opportunities and challenges for Vietnamese enterprises, which are facing dual pressures: the requirement to integrate with the global value chain and the intrinsic responsibility for national sustainable development goals

THE IMPACT OF DIGITAL ACCOUNTING ON BUSINESS PERFORMANCE - A THEORETICAL RESEARCH MODEL

Fri, 12 Sep 2025 00:00:00 +0700

This study aims to build a theoretical research model related to the topic of the impact of digital accounting on organizational performance. The main research method used is based on a systematic review. The findings led to the proposal of a model comprising 10 hypotheses and four groups of variables: (i) the independent variable is digital accounting, (ii) the mediating variables are financial reporting quality and usefulness of accounting information, (iii) the moderating variable is transformational leadership style, and (iv) the dependent variable is organizational performance. This is the basis for conducting empirical research in the coming time.

DECREE 228/2025/NĐ-CP AND ISQM 1–2: IMPACTS ON AUDIT FIRMS IN VIETNAM AND RECOMMENDATIONS FOR ENHANCING THE QUALITY MANAGEMENT SYSTEM

Trần Khánh Lâm Hội Kiểm toán viên hành nghề Việt Nam (VACPA) — Mon, 15 Sep 2025 00:00:00 +0700

Decree 228/2025/NĐ-CP, issued on August 18, 2025, establishes a new administrative sanctioning framework in the field of independent auditing, raising the maximum monetary penalty to VND 2 billion for audit firms. This study analyzes the key changes introduced by Decree 228 and assesses their impact on the practical operations of audit firms in Vietnam, particularly small and medium-sized firms (SMPs). By benchmarking against the newly issued international quality management standards (ISQM 1 and ISQM 2) and global best practices in quality control, the research shows that Decree 228 imposes higher requirements on compliance and audit service quality. Violations such as noncompliance with professional standards, lack of an internal quality control system, breaches in practice registration, audit contracts, or professional training obligations may now result in heavy fines along with remedial measures. Accordingly, the paper recommends that audit firms-especially SMPs-urgently review and strengthen their internal policies, regulations, and operational procedures to meet the requirements of Decree 228 and to enhance audit quality. Specific recommendations include implementing a risk-based quality management system aligned with ISQM 1, reinforcing training and compliance monitoring, ensuring full compliance with licensing requirements, and maintaining complete audit documentation, thereby mitigating violation risks and safeguarding the firm’s reputation.

ACCOUNTING FOR TAX EXAMINATION AND TAX INSPECTION RESULTS AT ENTERPRISES

Fri, 19 Sep 2025 00:00:00 +0700

Tax examination and tax inspection activities have been clearly regulated in the system of legal documents and have become regular tasks of tax authorities and tax officers. However, because of differences between tax regulations and accounting regimes, many problems arise in these activities. The content of the article summarizes the issues of the Goverment’s regulations related to tax examination and tax inspection activities at enterprises, and provides a comparison between these two activities. Also,this article states the accounting method for recording results after tax examination and tax inspection. Based on real situations, the article shows problems arising in the accounting processing tax examination and tax inspection results and suggests solutions

REPORTING RESPONSIBILITIES IN PUBLIC SECTOR ACCOUNTING IN VIETNAM - IN THE CONTEXT OF THE CURRENT TWO-TIER GOVERNMENT SYSTEM

Thu, 18 Sep 2025 00:00:00 +0700

Under the two-tier government model (central and local), reporting responsibilities are clearly defined in legal documents such as the Law on Accounting and the State Budget Law. However, practical implementation still faces many challenges. At the central level, management agencies like the Ministry of Finance and the State Treasury have made significant efforts to synthesize and disclose financial information using modern systems. Despite these efforts, a lack of completeness persists because they use a cash basis of accounting. This prevents reports from fully reflecting the overall state of public assets and debt. At the local level, a lack of synchronized information technology and limited capacity among accounting staff are major obstacles. The complex relationship between central and local budgets also makes it difficult to synthesize and reconcile data.

This article primarily focuses on the following topics: The general context and importance of public sector accounting. Reporting responsibilities in public sector accounting.The two-tier government context in Vietnam.The theoretical basis and legal framework for reporting responsibilities in public sector accounting. The current status of reporting responsibilities in public sector accounting in Vietnam.Models of national approaches to decentralized management and reporting responsibilities. Solutions to enhance reporting responsibilities in public sector accounting.

Moving forward, it is essential to perfect the legal framework and apply international public sector accounting standards (IPSAS) to transition to an accrual basis of accounting. It’s also vital to promote the use of information technology and upgrade the financial management system to ensure connectivity and synchronization between different government levels. These measures will advance public sector accounting reform in Vietnam, helping to build a strong and reliable public finance system.

FINANCIAL MANAGEMENT MODELS IN SMALL AND MEDIUM - SIZED ENTERPRISES - THEORY AND PRACTICE

Mon, 22 Sep 2025 00:00:00 +0700

Small and medium-sized enterprises (SMEs) play a crucial role in economic growth and innovation, particularly in the context of globalization and digital transformation. However, many SMEs face challenges in achieving financial efficiency and ensuring long-term sustainability due to limitations in financial management. This paper reviews international studies and classifies financial management models into six groups: cash flow and working capital management, financial planning, cost management and investment control, accounting information systems, financial risk management, and digital technology applications. Despite differences in approach, these models share a common goal: enhancing financial decision-making capacity in contexts of risk and resource constraints.

ENHANCING RESPONSIBILITY ACCOUNTING IN ENTERPRISES OF THE VIETNAM NATIONAL TEXTILE AND GARMENT GROUP (VINATEX) TO MEET THE REQUIREMENTS OF THE CIRCULAR ECONOMY

NCS.ThS. Đỗ Hương Quỳnh Khoa Kế toán - Trường Đại học Công Đoàn — Sat, 20 Sep 2025 00:00:00 +0700

The Vietnam National Textile and Garment Group (Vinatex) plays a crucial role in the textile and garment industry, contributing significantly to exports while facing growing challenges of resource consumption and environmental impacts. In the transition toward a circular economy, responsibility accounting systems in Vinatex enterprises need to be improved to capture not only financial performance but also environmental and social responsibilities. This paper analyzes the current state of responsibility accounting within Vinatex enterprises, identifies limitations in integrating sustainability dimensions, and proposes solutions for improvement. The recommendations include expanding the scope of recording environmental and social costs, developing responsibility indicators related to recycling and resource efficiency, applying digital technologies to enhance data transparency, and adopting integrated reporting in line with international standards. The findings provide scientific evidence to strengthen governance capacity and promote sustainable competitiveness for Vinatex

DEVELOPING A RESEARCH MODEL ON THE IMPACT OF ENTERPRISE RISK MANAGEMENT ON FIRM PERFORMANCE: THE MODERATING ROLE OF KNOWLEDGE MANAGEMENT SYSTEMS

Sun, 21 Sep 2025 00:00:00 +0700

This study investigates the relationship between enterprise risk management (ERM) and firm performance (FP), with particular attention to the moderating role of knowledge management systems (KMS). Using the Grounded Theory (GT) approach, data were collected through expert interviews and analyzed via open, axial, and selective coding procedures. The findings suggest that ERM can be conceptualized as a dynamic capability that positively contributes to firm performance, while KMS plays a crucial role in strengthening this effect. By integrating the Resource-Based View (RBV) and Dynamic Capabilities Theory, the study develops a conceptual model that provides a foundation for future empirical research.

EXPERIENCE IN STATE MANAGEMENT OF ENTERPRISE DEVELOPMENT OF CHINA AND JAPAN - LESSONS FOR VIETNAM

ThS. Trần Tiến Dũng Cục Thi hành án dân sự Nghệ An — Mon, 22 Sep 2025 00:00:00 +0700

This article analyzes state management experiences in enterprise development from Japan and China, drawing lessons for Vietnam. Japan emphasizes long-term industrial strategies (e.g., Society 5.0), transparent legal frameworks, incentives for R&D, and strong support for small and medium-sized enterprises. China focuses on centralized industrial planning (Made in China 2025, “dual circulation”), the development of special economic zones, enterprise internationalization, and supervision through SASAC and the social credit system. The key lesson for Vietnam is to combine strategic orientation with transparency, fair competition, targeted investment promotion, and effective monitoring mechanisms to enhance enterprise capacity in global integration.

FINANCIAL REPORTING TRANSPARENCY, INDEPENDENT AUDIT, AND FDI ATTRACTION INTO THANH HOA’S STARTUP ECOSYSTEM

Sat, 20 Sep 2025 00:00:00 +0700

The study assesses the impact of financial reporting transparency and independent audit on FDI attraction into Thanh Hoa’s startup ecosystem using a systematic review and secondary data analysis. Findings indicate that improvements in information quality (the IFRS/VFRS roadmap, compliance with the Law on Independent Audit, and enhanced institutional transparency) are positively associated with FDI and are amplified by local institutional quality. For startups/SMEs, standardized financial statements and audited reports shorten due diligence, lower transaction costs, and raise “investability.” The study proposes three solution sets: a tiered IFRS/VFRS roadmap coupled with co-financing for first-time audits; a provincial XBRL-based financial reporting data infrastructure; and ecosystem coordination alongside an “IFRS for Startups” program.

EXAMINING LOCAL BUDGET AUDITS IN VIETNAM’S TWO-TIER GOVERNANCE MODEL

ThS. Đinh Thị Phương Thúy Phó Trưởng phòng, Kiểm toán Nhà nước Khu vực XII — Thu, 18 Sep 2025 00:00:00 +0700

The State Budget Law (SBL) 2025 will take effect from 2026, introducing many changes in the decentralization and allocation of budget authority between the central and local governments, particularly suited to the two-tier local government model. The law provides clearer regulations on revenue sharing, expenditure responsibilities, increases the local government’s borrowing limit, shortens the budget settlement period, and simplifies administrative procedures. These changes significantly impact the auditing of local budgets (LB) and budget settlement reports, requiring the State Audit Office (SAO) to adjust its organization and audit methods to align with the new model

SOME SOLUTIONS TO IMPROVE THE ORGANIZATION OF INTERNAL AUDIT SYSTEM IN PUBLIC HOSPITALS UNDER THE MINISTRY OF HEALTH`

ThS. Nguyễn Quang Hợp Kiểm toán Nhà nước Khu vực VII — Sun, 21 Sep 2025 00:00:00 +0700

The requirement of economic reform requires the synchronous construction of an effective management mechanism and apparatus. Internal audit (IA) activities play an important role in ensuring the publicity and transparency of financial information, helping to detect, prevent and promptly handle fraud and weaknesses in management at public service units in general and public hospitals under the Ministry of Health in particular. The article discusses the current situation and solutions to improve the organization of the internal audit apparatus in public hospitals under the Ministry of Health in a specific context.

FACTORS AFFECTING THE INTENTION TO PARTICIPATE IN EXTRACURRICULAR ACTIVITIES OF STUDENTS IN FINANCE - ACCOUNTING - AUDITING

Sun, 28 Sep 2025 00:00:00 +0700

This study aims to identify factors affecting the intention to participate in extracurricular activities of students majoring in Finance - Accounting, thereby finding a reasonable basis for proposing solutions to improve the quality of extracurricular activities to develop learners’ capacity. Based on the theory of planned behavior, combined with self-determination theory and social cognitive theory, the authors have built a research model consisting of seven factors: activity content, guests, rewards, time, learning pressure, soft skills and training points. A mixed research method was applied, in which quantitative data were collected from 217 valid questionnaires and then analyzed using a multiple linear regression model with the support of SPSS software. The results showed that of the seven factors included in the study, two factors had a negative impact on the intention to participate in extracurricular activities: learning pressure; time; The remaining variables all showed a positive impact on students’ intention to participate in extracurricular events. The research results are important empirical evidence for the authors to provide policy implications and practical management implications to improve the quality of extracurricular events for students, thereby contributing to training and developing comprehensive capacity for students.

PROFITS OF LISTED CONSTRUCTION ENTERPRISES IN VIETNAM IN 2025

Mon, 22 Sep 2025 00:00:00 +0700

The construction sector is one of the key pillars of Vietnam’s economy, playing an essential role in the development of infrastructure, urban areas, and industry. The operations of construction enterprises are influenced not only by market factors but also directly by the State’s macro policies. In the context of global integration and economic fluctuations, policies on public investment, legal frameworks, credit, taxation, and infrastructure development have profound impacts on business performance, competitiveness, and the growth prospects of enterprises in the sector. The article will present the current situation of profits of listed construction enterprises in Vietnam in the first half of 2025, thereby providing some solutions for these enterprises to increase profits in the coming period.

ENHANCING INTERNAL CONTROL TO PROMOTE ESG INTEGRATION IN VIETNAMESE ENTERPRISES

Nguyễn Võ Tuyết Trinh Học viện Ngân hàng – Phân viện Phú Yên — Mon, 22 Sep 2025 00:00:00 +0700

Environmental, Social, and Governance (ESG) integration has become an essential trend in modern corporate governance. However, ESG implementation in Vietnam remains largely superficial, fragmented, and insufficiently supported by internal control. This paper analyzes key limitations within existing internal control frameworks related to ESG and proposes solutions for redesigning them to better incorporate ESG factors. Strengthening internal control in this direction can enhance transparency, manage nonfinancial risks, and support sustainable development in Vietnamese enterprises.

ACCOUNTING INFORMATION SYSTEMS IN SMALL AND MEDIUM-SIZED ENTERPRISES IN BINH DUONG PROVINCE: CURRENT SITUATION AND SOLUTIONS

Sat, 20 Sep 2025 00:00:00 +0700

With the advent of the Fourth Industrial Revolution, Accounting Information Systems (AIS) began to play an increasingly significant role in the development and competitiveness of enterprises, particularly small and medium-sized enterprises (SMEs). This is because information technology (IT) has fundamentally transformed all components of AIS, ranging from human factors to IT infrastructure and accounting information processing procedures. This study was conducted to assess the current state of AIS in SMEs in Binh Duong Province, thereby proposing solutions for improvement. The research involved a survey of 198 SMEs in Binh Duong and employed interviews and descriptive statistical methods to analyze the sample. Based on the findings, the study proposes solutions concerning AIS investment, operation, and support for SMEs in Binh Duong.

ADOPTING INTERNATIONAL FINANCIAL REPORTING STANDARDS TO REDUCE THE RISK OF FINANCIAL REPORTING FRAUD AND ENHANCE THE TRANSPARENCY OF FINANCIAL STATEMENTS

Sun, 28 Sep 2025 00:00:00 +0700

The paper discusses the important role of IFRS in improving the quality of financial reporting. The research method used is qualitative, with the main technique being document collection. The authors found that IFRS adoption helps standardize the process of preparing corporate financial statements, thereby minimizing financial reporting misstatement. At the same time, IFRS Standards boost transparency, comparability and trust in financial reporting. This paper also emphasizes the importance of training human resources and building information technology systems to support enterprises in the process of transforming to financial reporting according to IFRS. From there, we propose some solutions for enterprises to actively apply IFRS to get the reputation and trust from the related parties.

THE EVOLUTION OF ACCOUNTING PRINCIPLES OVER PERIODS AND THEIR IMPACT ON FINANCIAL ACCOUNTING IN THE CURRENT ERA

Thu, 18 Sep 2025 00:00:00 +0700

The development of financial accounting is inseparable from the evolution of accounting principles. These principles, which serve as the theoretical foundation, have shaped how businesses recognize, measure, and present financial information in their reports. In the past, when the economy was simpler, accounting principles focused on objectivity and the historical cost principle. The main goal was to provide reliable information about transactions that had already occurred. However, the increasing complexity of the market and the needs of investors have driven the emergence of new principles, such as the fair value principle. This principle allows assets and liabilities to be recognized at their current market value, providing a more timely and realistic view of a company’s financial position.

Today, with global economic integration, international accounting standards (IFRS) have been established, making accounting principles more consistent. This not only makes financial reports easier to compare but also increases their transparency. Financial accounting is no longer just a system for recording but has become a powerful management tool, helping information users make effective investment and business decisions. Thus, the evolution of accounting principles has been, and continues to be, shaping and elevating the role of financial accounting in the modern economy