Services

After an investment construction project is completed, the investor must prepare a finalisation report and submit it to the competent authority for verification and approval. For many projects, especially those using public investment capital, the finalisation report must be independently audited before submission. ATAX's audit of completed project finalisation reports helps investors determine the finalised value accurately, shorten the approval time and reduce the risk of costs being disallowed.

1. Objectives

The auditor expresses an opinion on whether the completed project finalisation report is prepared and presented truly and fairly in all material respects, in accordance with accounting standards, the accounting regime and investment management regulations, and assesses whether project implementation complied with regulations on investment, construction and bidding.

2. Basis

• The Law on Public Investment, the Law on Construction, the Law on Bidding and guiding documents.
• Decree 99/2021/ND-CP on management, payment and finalisation of projects using public investment capital, as amended and supplemented.
• Vietnamese Standard on Auditing No. 1000 – Audit of completed project finalisation reports and other relevant auditing standards.
• Regulations on norms, unit prices and construction investment cost management.

3. Who uses this service

• Investors and project management units using public investment capital or non-public state capital that are required to audit project finalisation.
• Private enterprises and investors wishing to control investment costs and determine the historical cost of fixed assets for depreciation and tax finalisation.
• ODA and concessional loan projects as required by donors.

4. Documents the investor needs to prepare

• Legal documents: investment policy decision, project approval decision, designs, estimates and adjustment decisions.
• Contractor selection documents, contracts and contract appendices.
• Acceptance records, as-built drawings, construction logs and records of additional quantities.
• Payment, advance and contract finalisation documents for each contractor.
• Accounting books, investment cost vouchers and capital disbursement reports.
• The completed project finalisation report in the prescribed form.

5. ATAX audit process

1. Preparation and planning: survey the project, assess risks and assign an audit team of auditors and construction engineers.
2. Information gathering: receive legal documents, contracts and payment records.
3. Audit fieldwork: examine investment capital sources; construction, equipment, compensation and site clearance, project management, consultancy and other costs; quantities, unit prices and norms; site visits where necessary; payables and assets formed.
4. Discussion of results: agree audited figures with the investor and contractors.
5. Reporting: issue the audit report on the completed project finalisation together with a management letter and recommendations.

Learn more: Construction project audit and its process (in Vietnamese).

6. Why choose ATAX?

• A team of auditors combined with experienced construction engineers and construction economists.
• A top-down audit approach closely following current investment management regulations.
• Specific recommendations that facilitate verification and approval.
• Clear timelines and competitive fees.

Contact ATAX for an initial free consultation and a fee proposal tailored to the scale and nature of your project: https://atax.vn.