COMPETENCY PROFILE A&C AUDITING AND CONSULTING CO., LTD.

Transcription

1 COMPETENCY PROFILE A&C AUDITING AND CONSULTING CO., LTD. 1

2 Open Letter Ladies and Gentlemen, First of all, our A&C Auditing and Consulting Co., Ltd. - a member firm of BAKER TILLY INTERNATIONAL, a worldwide organization of professional accounting firms and business advisers, would like to express our sincere regards to you and to wish you achieving success. A&C Auditing and Consulting Co., Ltd. (hereinafter referred to as A&C) is strongly established by a workforce of professional and experienced auditors, appraisers, financial specialists and consultants having been engaged in audit and business consultancy from the beginning days of this industry in Vietnam. At present, A&C, with successful growth, has expanded operations nationwide with head office at Ho Chi Minh City and branches located at national economic zones of Vietnam, including Hanoi, Nha Trang and Can Tho, with more than 450 specialists. With 25 years of operations, A&C gets an insight about country, human and laws of Vietnam. In addition, we are able to co-operate with State Bodies of Vietnam to effectively resolve issues at your request. Owning to the quality service, professional ethics and reputation, A&C has successfully proved itself as one of leading audit and business consulting firms of Vietnam. We do hope that you shall consider employing our audit service, consulting services and many others. We so appreciate your business and once again wish you best success. Sincerely yours. Mr. Vo Hung Tien General Director

3 CONTENT Open Letter 1. Introduction to Baker Tilly International and A&C 4 2. Achievements and awards Introduction to services of A&C Key persons of A&C Key clients of A&C 48 APPENDIXES Enterprise Registration Certificate 55 Certificate of Eligibility for Audit Service Business 58 Decision of State Securities Committee on Permitting A&C to Provide Audit Service to Public Enterprises in securities field Decision of Ministry of Finance on Permitting A&C to Provide Audit Service to Public Enterprises List of A&C s Practice Auditors Eligible for Providing Audit Service to Public enterprises in 2019 Certificate of Top 10 Credible Enterprises of Vietnam in 2014 Certificate of A&C becoming an Authorized Training Employer of ACCA, CPA Australia and ICAEW Contact information 73

4 1. Introduction to Baker Tilly International and A&C A&C an official member firm of BAKER TILLY INTERNATIONAL, one of eight largest auditing firms in the world Member of professional associations, including Vietnam Association of Certified Public Accountants (VACPA); Vietnam Business Club (VBC) and Vietnam Tax Consultants Association (VTCA) 4

5 Introduction to Baker Tilly International A&C is an independent member of BAKER TILLY INTERNATIONAL a worldwide organization of professional accounting firms and business advisers BAKER TILLY INTERNATIONAL a worldwide organization including the world s leading independent member firms of professional accounting firms and business advisers, was established in 1987 and has headquartered at Global Office, Juxon House, 100 St Paul s Churchyard, London, EC4M 8BU, United Kingdom. With a network of 126 member firms in over 147 countries and more than 33,600 staffs worldwide, member firms of Baker Tilly International strive to ensure the best services to clients regionally and globally. BAKER TILLY INTERNATIONAL ranks in the top 10 largest accounting and business advisory networks worldwide, with the global annual fee income of over USD 3.4 billion (it ranks the world s 8th largest accountancy and business advisory network). BAKER TILLY INTERNATIONAL is large enough to provide the services required by clients, whatever their size is and wherever they are located. Through its Global Care approach, BAKER TILLY INTERNATIONAL member firms strive to ensure that all aspects of a client s financial affairs are addressed at the highest quality and professional manner. 5

6 Introduction to Baker Tilly International The advantages of working with the BAKER TILLY INTERNATIONAL can be summarized as follows: Global supports. You will be served by teams of knowledgeable and experienced experts working in various markets and have the supports from BAKER TILLY INTERNATIONAL Office in order to assure clients a coordinated approach throughout assignments, including meeting deadlines and providing a high quality work product. Partner-led involvement. BAKER TILLY INTERNATIONAL and its partners with reliability, broad knowledge and experience in various fields are closely involved in the engagement to satisfy the clients needs. A seamless service. Whilst member firms remain legally independent, BAKER TILLYINTERNATIONAL maintains its cohesiveness through its international client business activities, a common identity, continuous communication and its regular BAKER TILLY INTERNATIONAL regional and technical conferences. Realistic fees. The services provided by BAKER TILLY INTERNATIONAL member firms are always of high quality and with realistic fees. 6

7 Introduction to A&C Establishment and development A&C is formerly known as a State-owned company which was established in the year 1992 in compliance with Decisions No. 140 TC/QD/TCCB and No. 107 TC/QD/TCCB of Minister of Finance. In the year 2003, the Ministry of Finance did permit A&C, one of largest audit firm then, to transform from a State-run enterprise in to a joint stock one in line with Decision No. 1962/QD-BTC. In the year 2007, A&C officially transformed itself into a limited liability company. From January 2004 to April 2010, A&C was an official member of HLB International, an audit, accounting and business consulting firm headquartered in Great Britain. From May 2010, A&C became an official member of Baker Tilly International, one of eight largest audit, accounting and business consulting firm of the world. With more than 25 years of operations, the number of services as well as service quality of A&C keep being developed. A&C has been approved by the State Securities Commission to audit the Financial Statements of the listed joint stock companies, public joint stock company and securities companies. A&C is also accepted by the State Bank of Vietnam to perform audit on the financial statements of the banks and credit institutions operating in Vietnam. In addition, A&C is a member of Vietnam Association of Certified Public Accountants (VACPA), VietbusinessClub (VBC) and of Vietnam Tax Consulting Association (VTCA). 7

8 Introduction to A&C Organization chart of A&C Board of Members Board of Directors Hanoi Branch Nha Trang Branch Head Office Can Tho Branch Audit Dept No. 1 Consulting Dept. Audit Dept No. 2 HR and Admin Dept. Construction Audit Dept. Finance- Accounting Dept. 8

9 Introduction to A&C Network Ha Noi Branch 40 Giang Vo, Dong Da District, Ha Noi Tel: (024) Nha Trang Branch 18 Tran Khanh Du, Nha Trang City, Khanh Hoa Province Tel: (0258) (0258) Head Office 02 Truong Son, Ward 02, Tan Binh District, Ho Chi Minh City Tel: (028) Can Tho Branch I5-13 Vo Nguyen Giap, Phu Thu Ward, Cai Rang District, Can Tho City Tel: (0292)

10 Introduction to A&C Once employing services of A&C, you shall received our following benefits with realistic prices: Capable workforce Our staffs are strictly recruited and trained to optimal their profession and management skills so as to provide best service quality to clients. Professional skills and intensive experience We have experience in providing auditing and consulting services for all types of enterprises operating in various sectors such as manufacturing, construction, trading, service, hotel, banking, transportation, oil and gas, etc. Deep knowledge We have deep knowledge of country, people and laws of Vietnam. Co-operation with competent authorities We are able to effectively resolve problems of clients. Supports from Baker Tilly International Not only being helped by Baker Tilly International for information, techniques and experience, we are also assisted by this organization in providing services on global scale. Nationwide network Currently, A&C is present at not only in Ho Chi Minh City but also in Hanoi, Nha Trang and Can Tho. 10

11 Introduction to A&C Personnel of A&C With more than 25 years of experience, A&C has built up a professional workforce; Workforce of A&C is continuously trained in order to improve professional knowledge, skills, experience, and supporting knowledge on laws, economics, technology, marketing, etc.; In addition to local training courses, our auditors and consultants have been seconded in training and practicing courses overseas such as Malaysia, Singapore, the Philippines, Hong Kong, Great Britain, France, Belgium, Ireland, etc. organized by A&C or by supporting programs of Ministry of Finance, Baker Tilly International and other international professional organizations; Workforce of A&C is imbued with a culture of dedication so as to satisfy any demand and to please clients; Earlier known as a State-owned enterprise, workforce of A&C is able to co-operate with competent authorities to effectively resolve problems of clients. 11

12 Introduction to A&C Currently, A&C has employed more than 450 employees trained at home and abroad, including: 25% of the staffs having granted CPA and Certified Practicing Valuer by the Ministry of Finance; 16% of the staffs having granted Tax Practicing Certificate by General Department of Taxation; 10% of the staffs having internationally accredited certificates on accounting, and post-graduate degrees (e.g. ACCA, CPA Australia, Hawaii University, Swinburne University, University of Economics of Ho Chi Minh City); 95% of the staffs who have Bachelor degrees on economics, laws and foreign languages. 12

13 Clients of A&C Introduction to A&C Up to now, A&C has been providing services to more than 2,000 clients working in various operating sectors, including: Foreign invested enterprises and business co-operation contracts; Vietnamese businesses of all economic sectors including manufacturing, construction, trading, service, hotel, banking, transportation, oil and gas, etc.; International and domestic organizations, representative offices, and individuals who are in need of our services; Projects funded by the World Bank, the Asian Development Bank, the European Union, etc. 13

14 2. ACHIEVEMENTS AND AWARDS A&C is also an activist, regularly participating in social programs such as Fund for the Poverty and Fund for Victims of Herbicide Orange as well as constructing gratitude houses and charity houses, etc. A&C deems these activities as a humble contribution to the development of the mother country. 14

15 ACHIEVEMENTS A&C did learn and get experience in auditing and business consulting services provided to various enterprises with different lines of business after more than 25 years of operations. According to the most recent statistics of Vietnam Association of Certified Public Accountants (VACPA), information on A&C is as follows: A&C is the audit firm having the highest rate of auditors winning CPA over total employees; A&C is the Top 2 audit firm earning the highest revenue from training activity; A&C is the Top 3 audit firm having the highest number of auditors; A&C is the Top 6 audit firm earning highest revenue and having highest number of employees (following KPMG, E&Y, Deloitte, PwC, AASC); A&C is the Top 6 audit firm earning the highest revenue from audit service provided to State-run clients; A&C is the Top 6 audit firm earning the highest revenue from audit service provided to listed and public joint stock companies; A&C is the Top 6 audit firm earning the highest revenue from construction audit service; A&C is the Top 7 audit firm earning the highest revenue from tax consulting service. Revenue earned from services of A&C during the year from 2013 to 2018 Year Revenue (billion VND)

16 KEY AWARDS Certificate of Trusted Brand Index 2015 Being granted by Vietnam Enterprise Institute joined with InterConformity Assessment and Certification Company (Federal Republic of Germany, Europe) Certificate of Good Products Excellent Service of Vietnam 2014 Being certified by Vietnam Union of Scientific and Technological Associations and Vinastas Certificate of Symbolic Service Provider of the Year 2013 for excellent achievements and contributions to society and economy Being rewarded by Ministry of Finance Vietnam Top Trade Services Awards 2010 for commentating enterprises winning achievements in service industry Being rewarded by Ministry of Industry and Trade In addition, A&C has won many other awards of employees and workforce of A&C rewarded by domestic and international organizations. 16

17 3. Introduction to services of A&C With intensive knowledge of laws and years of experience, staffs of A&C have successfully provided many clients with our effective solutions 17

18 Introduction to services of A&C A&C is specialized in providing services of audit and business consultancy for industries such as accounting, finance, investment, legitimacy, management and capital construction. Details are as follows: Audit Financial statements; Internal audit; Finalized accounts of completed projects. Consultancy in respect of legality investment, taxation, enterprisefinance, business administration, transfer pricing, etc. Legal service Valuation. Accounting. Training and improving competency of workforce in auditing, accounting, finance, taxation and other topics in respect of market and economy. 18

19 Auditing financial statements Auditing financial statements has been the principal business activity of A&C so far. We are proud to bring satisfaction to customers with the best quality financial reporting service. Services Services to be provided by A&C: Audit on the Financial Statements and other financial information; Review on the Financial Statements and other financial information; Engagements to perform agreed-upon procedures regarding financial information; Compilation of financial information; Examination of prospective financial information. Bases of service performance Procedure for Financial Statements Audit is set up on the basis of: Compliance with professional and ethical standards; Compliance with the Vietnamese and International Standards on Auditing; Compliance with laws and internal regulations; Conformity with practical operations of businesses in Vietnam. Our supports Our service performance is always associated with information support and consultancy to help clients: improve accounting works and financial management; strengthen internal control system; protect legitimate and eligible interests. 19

20 Internal audit The role of internal audit is increasingly appreciated in a globalized market economy requiring information transparency and is a mechanism to timely prevent and detect risks during the operation course. Therefore, in case you are in need of assistance in compliance with the internal corporate governance as well as legal regulations; demand to develop an Enterprise Risk Management (ERM) system or assess their available ERM system; or expectation of making up for the existing resources, our A&C is willing a companion offering you our support. Our skillful staff of professionals experienced in internal audit with understanding and knowledge on the profession and relevant issues, is willing to provide a wide spectrum of advisory services which include the provision of internal audit teams, corporate governance, enterprise risk management, quality assurance reviews, legal compliance review and review of internal controls over financial statement preparation, etc. Through our internal audit services, we support the Company in corporate governance improvement, risk management enhancement and misstatement and fraud restraint; help you to review your internal control system quality then providing an assessment opinion on the appropriateness and effectiveness of the system; simultaneously, to reduce the costs on maintaining a bulky management system, improve working efficiency, enhance responsibility, and develop control procedures more effectively. 20

21 Auditing Finalized accounts of completed projects Baker Tilly A&C is willing to meet your needs Specific services Auditing the Finalized Accounts of Completed Projects; Auditing the Finalized Accounts of Construction Costs; Appraising construction estimates; Giving advice on contractor selection; Bases and objective of services The foresaid services are performed in conformity with legal regulations on construction management, bidding and those related to (civil, industrial, traffic, infrastructure, agriculture and rural development) projects/works and their investments (State Budget, extra-budget State capital, ODA capital and others). Our engagements aim at helping the Investors perfect their management, legally perform projects, provide related parties with reliable information, data and opinion on estimation and finalization, construction costs control and management, partner and contractor selection and other purposes including mortgage, borrowing, transfer, equitization, etc. as well. 21

22 Consulting services The consulting services of A&C show tremendous growth during the recent period thanks to their diversity. Details are as follows: Tax services Over the past years, the economic integration has brought about drastic reform in tax policies which are persevered in the next time for the purposes of business environment improvement, favorable conditions for businesses and investment attraction. Apart from aforesaid advantages, the tax policy reform requires the enterprises to keep updating. It s quite a problem to flexibly apply tax policies in conformity with not only legal regulations on tax but also enterprise s operations. Our information and expertise have been brought in taxation consultancy with realistic fees over the past 25 experience years in the fields of auditing and consulting, as well as providing consulting services to various clients. We have developed separate and effective approaches and tax pattern for each client. Our various consulting services include supporting in tax declaration and finalization, consulting and reviewing the compliance with tax regulations, supporting tax inspection and preparing plan. 22

23 Consulting services Arm-length Price Consultancy With the development of globalization and businesses, the competent authorities, especially tax agencies, pay more attention to transfer pricing of multinational corporations. Regulations on transfer pricing are becoming more complex and tighter so tax authorities worldwide are working together with the drive for transparency in internal transactions. Unexceptionally, tax agencies in Vietnam are also aiming at standardizing transfer pricing based on OECD standards. A&C s purposes are providing clients with best solutions for transfer pricing, tax risk control in conformity with their development and strategy orientation and challenges of tax authorities. Especially, we also support clients in the future application of transfer pricing policies according to the Advance Pricing Agreement (APA). In the cooperation and support from Baker Tilly International network, A&C has attempted to improve market pricing service. A&C has provided market pricing services such as consultancy on market pricing documentation; consultancy on transaction pricing plan; risk identification and transfer pricing control advance pricing agreement (APA), etc. for many enterprises which express their satisfaction with this service. 23

24 Consulting services Operation Consultancy Companies nowadays face difficulties in building an organizational structure appropriate to their business type and current and longterm business strategy. Besides, the internal control system is not built or discrete, inconsistent. This big hole is increasingly drawing the enterprises attention to satisfy their governance demand. A&C s consulting service includes: Establishment of the operation regulations, procedure and internal control system; Setting up financial reporting system; Setting up governance statement system; Planning capital budget; Consultancy on financial strategies and cash flow management; Consultancy on personnel structure; Consultancy on recruitment; Payroll calculation and labor registration; Personnel support. 24

25 Consulting services Consultancy on commercial affairs Investment project valuation Investment project valuation offers investors an objective view on the growth potential, economic efficiency, feasibility, and possible risks to a project. Investment valuation and assessment could bring the following benefits: Through the collection and review of documents on the investment project; project s actuality investigation and assessment (if assets formed) and inquiry and information collection for necessity and project growth potential assessment. Data grouped and financial models are used to assess the investment s economic efficiency and provide forecasts, to analyze and calculate (if necessary) of possible risks, aiming the project s economic efficiency, advisories on the decisive matters and risk prevention. Project valuation report and pre-feasibility report carried out by our financial and accounting specialists and valuers shall bring value to our clients for the purpose of efficiency and risk assessment as well as backup suggestions. 25

26 Consulting services Business Restructuring Now, the ups and downs of domestic and global economy have caused many companies face difficulties and challenges due to shortcomings in the past a melting pot of disparate investments, lack of strategic orientation, little need for business branding, inefficient operations, etc. Business restructuring in the forms of capital transfer, merger and consolidation, splitting, business transformation; therefore becomes necessary and popular. Restructuring will help businesses: Concentrate resources on development of core business efficiency; Improve corporate governance effectiveness; Liquidate, dispose unnecessary assets and optimize resources upon business restructuring; Get rid of financial difficulties. Consultancy on mergers and acquisitions (M&A) M&A can rapidly increase the assets of a business, serve the development, market extension, diversification of operations, or vice versa, facilitate capital withdrawal, investment diversion, etc. However, M&A also exposes risks which put pressure on the involved. A&C shall support in providing legal, financial and tax due diligence services to detect significant, contingent risks and others before the investors make their decisions. 26

27 Legal service In the integration period, Vietnam is an attractive destination of domestic and foreign investors thanks to geographical and HR advantages. The Enterprise Law 2014 and Investment Law 2014, taking effect from 2015 with administrative reforms and procedure reduction facilitate the record establishment of new companies. In addition, the high number of enterprises returning Vietnam reflects potential of the market. Difficulties ofinvestors doing business in Vietnam: The legal documents of Vietnam are relatively complex and various, which makes difficult for investors to access to the appropriate investment regulations in Vietnam; Enterprises spend a lot of time, human resources and costs learning about and implementing legal procedures; Enterprises do not timely update amendments to legal documents relevant to their operation course; Enterprises are concerned about compliance with legal regulations in transactions with partners, especially foreign partners; Enterprises are seeking a professional and reliable consultant. A&C s consultant services include: 27

28 Legal service Legal consultancy on investment and incorporation Registering for business and investment projects of foreign investors in Vietnam, including procedures for obtaining the Business Registration Certificate, Investment Registration Certificate; consulting operation-related conditions; consulting organizational structure, capital structure and incentives to foreign investors; Registering for domestic companies, branches, representative offices and business locations; Consulting and implementing procedures for amendments to business registration and investment project contents; Consulting and implementing procedures for capital transfer involving foreign elements; Reviewing capital or share transfer contracts. Consulting and helping investors terminate investments in Vietnam. Legal consultancy on trading Consulting establishment of foreign trader s representative office in Vietnam, including procedures for obtaining Establishment License of representative offices, branches of foreign traders, amendments and extension to Establishment License; Consulting and helping foreign traders terminate operation of representative offices, branches; Consulting and implementing procedures for obtaining Business License for sales of foreign-invested companies; Preparing and reviewing commercial contracts. 28

29 Legal service Legal consultancy on employment Consulting legal regulations on employment, including preparing and reviewing labor contracts, collective agreements and consulting labor issues. Consulting issues of foreign employees in Vietnam, including support for obtaining Work Permit for foreigners. Other legal consultancy services Consulting and implementing procedures for transfer of intellectual property right, real estate, etc. 29

30 Valuation service Valuation 1. Definition of valuation According to the Law on Prices No. 11/2012/QH13 of Vietnam, valuation is interpreted as follows: Valuation means provision on incash prices of assets by competent agencies, organizations as prescribed in the Civil Code that is suitable with market price at a specific time, a certain location, for a certain purpose according to valuation standard. 2. Subjects of application 2.1. Asset right Asset right is a legal concept that encompasses all the rights, interests and benefits associated with ownership of such asset, including personal property right Property right Property right encompasses all the rights, interests and benefits associated with ownership of such property. One benefit or more can be normally reflected in form of ownership which is distinguished from physical property. Property right is an immaterial concept Movable right Movable right refers to the ownership of assets or benefits other than property. These assets can be tangible assets such as movables or intangible assets such as debts or patents. Tangible movables represent assets not permanently attached or fixed to the property and can be movable. 30

31 Valuation service Movable right includes benefits of: Identifiable, movable and usual tangible assets such as collectibles, decorations, or instruments; Unfixed assets installed by the lessee into property and used in business; land-attached investment assets or assets for lease installed by the lessee and paid to meet their own needs; Plants, machinery and equipment; Working capital and securities or existing assets which are total liquid assets minus current liabilities; Intangible assets such as the right of usufruct, intellectual property rights Business Businesses are usually those making profit by providing products or services to consumers. Similarly, company in operation is a business carrying out economic activities such as producing, manufacturing, trading, or exchanging goods or services. The in-operation term reflects the continuous operation in the future, without intended liquidation or scale reduction Financial benefits Financial benefits are intangible assets including those associated with the ownership of a business or asset. 31

32 Valuation service 3. Objectives of valuation: In the market economy, valuation is applied for a variety of economic purposes, such as purchase, sale, mortgage, lease, insurance, tax calculation, liquidation, investment, etc. Valuation result of an asset will be different in different time and for different purpose. As a result, they will be used to make different decisions such as: Acquisition, transfer, mortgage, insurance, tax calculation, compensation, lease, etc. of assets. Basis for the approval of foreign direct investment projects, Statefunded projects, State-owned enterprise equitization plan, allocation estimation, acquisition of assets by the State budget, borrowing from the Government, borrowing from foreign countries with the Government s guarantee, etc. Basis for merger, splitting, bankruptcy or dissolution. Execution of orders for litigation or judgment on contractual and mutual benefit disputes; consultancy on investment and decision making; market research; feasibility analysis; profit analysis; valuation of securities; preparation of Financial Statements; scheduling; complaint; request for tax reduction; etc. Basis for public auctions. 32

33 Valuation service Business valuation 1. Overview of business valuation: Business valuation is widely interpreted and recognized as: Investigation and analysis in detail of activities, assets and debits; Evaluation of the company's activities, assets and debits; Determination of existing and potential value of a company. 2. Objectives of business valuation Capital transfer; Share issue; Evidence of financial ability; Equitization, affiliation, capital contribution Mergers and acquisitions (M&A) Etc. 3. Subjects of application Private companies, State-owned organizations and enterprises Those to be equitized Those planning to significant change of ownership or capital structure: merger, affiliation, capital transfer, acquisition or franchise, etc. Those intended for first public offering Those under development and change of operations 4. Methods of business valuation Asset-based approaches Dividend discount method (DDM) Income-based approaches Discounted cash flow method (DCF) Price/Earnings (P/E) ratio 33

34 Accounting service The Accounting Department acts as an accounting and statistic data provider of the Board of Directors in making decisions in conformity with its operations and in response to business environment changes. With a team of specialists mastering the Vietnamese Accounting and International Accounting Practices and with our practical experience for many years, the accounting services of our A&C can satisfy all the needs of our clients. Our A&C s accounting services include: Performing bookkeeping service, preparing Financial Statements, tax report and other reports as required by the clients; Supporting the clients in the conversion of Financial Statements prepared in accordance with the Generally Accepted Accounting Practices; Installing accounting software; Training and recruiting accounting staff for clients at their requests. 34

35 Training service A&C s leaders with teaching and management experience years in universities and experienced doctors, masters, lecturers and experts are able to successfully design and run the training courses as required by clients. A&C s training services include: At client s request, A&C has held specialized courses on financial accounting, auditing and internal auditing, financial analysis, IFRSs, etc. These courses aim at equipping and improving professional knowledge for the accountants of enterprises. Seminar and provision of summary of legal writings. This is to timely inform businesses and organizations of necessary information on finance, accounting, taxation, etc. relevant to their operations. Internal training: Regular and continuous internal training aims at professionalizing the staffs, improving professional knowledge and skills, to further adapt to the economic integration. 35

36 4. Key persons of A&C Service quality, work ethics and prestige are prioritized. 36

37 Key persons of A&C Vo Hung Tien Chairman General Director Qualifications M.A in International Accounting B.A in Economics B.A in Law CPA Vietnam CPA Australia Tax Practice Certificate Overview Mr. Tien having over 30 consecutive years working in the field of auditing financial consulting, accounting, and legality; Mr. Tien directly involving in the researches and giving lectures in accounting and auditing at the universities in Ho Chi Minh City, training centers, and enterprises; Mr. Tien directly participating in doing researches for improvement to accounting and auditing standards being applied in Vietnam; having close relationships with international professional organizations; Mr. Tien being one of the first members of Vietnam Association of Accountants (VAA) and Ho Chi Minh City Accounting Association (HAA). Being currently the Vice Chairman of Vietnam Association of Certified Public Accountants (VACPA), who is in charge of the Southern Area as well as the member of the VACPA and of the Executive Committee of VAA (term 2008 to 2014); With years of experiences in financial, accounting, and legal field, Mr. Tien directly managing the works related to audit engagement as well as financial, accounting and tax consulting for State-run enterprises, joint stock companies, and FDI enterprises, etc. operating in all economic sectors as well as projects funded by foreign organizations. 37

38 Key persons of A&C Qualifications Master of Economics Bachelor of Economics Bachelor of Laws CPA Vietnam Tax Practice Certificate Nguyen Minh Tri Deputy General Director Overview Mr. Nguyen Minh Tri having about 30 years working in the fields of corporate finance, accounting, consulting and auditing; Mr. Tri being a member of the Executive Committee of Vietnam Tax Consultants' Association (VTCA). Mr. Tri having intensive experience in training, tax consultancy and business administration; Mr. Tri directly involving in the researches and giving lectures in finance, accounting and auditing at the universities, training centers, and State-run and private enterprises, FDI enterprises in Vietnam; Mr. Tri having audited the Financial Statements and directly attended to managing the auditing works for many large enterprises operating in various business aspects. Mr. Tri having attended in multiple training courses in respect of the fields of auditing, accounting, and business administration held by international organizations; Mr. Tri doing researches into auditing in Malaysia and China. 38

39 Key persons of A&C Qualifications Master of Economics Bachelor of Economics Bachelor of Laws CPA Vietnam Le Minh Tai Deputy General Director Overview Mr. Tai having more than 35 years working in the fields of corporate finance, accounting, and auditing; Mr. Tai being one of the first auditors of Vietnam; Mr. Tai being one of the first member of Vietnam Accounting Association (VAA) and Ho Chi Minh City Accounting Association (HAA); Mr. Tai directly involving in the researches and giving lectures in accounting and auditing at the universities, training centers, and State-run and private enterprises, FDI enterprises in Vietnam; Mr. Tai having intensive experience in organizing, managing and directing the audit on financial statements, the consultancy on taxation and business administration for large enterprises; Mr. Tai participating in multiple auditing and accounting training courses in France and Hong Kong as well as doing researches into auditing in Singapore, Malaysia and China. 39

40 Key persons of A&C Nguyen Chi Dung Deputy General Director Qualifications Master of Economics Master of Business Administration Bachelor of Laws Member of ACCA CPA Vietnam ICAEW Certificate in IFRSs Tax Practice Certificate Overview Mr. Dung having more than 23 years working in the fields of corporate finance, accounting, and auditing; Mr. Dung directly involving in the audit on financial statements for hundreds of clients, including State-run enterprises, private enterprises, joint stock enterprises, and FDI enterprise in Vietnam; Mr. Dung having intensive experience in organizing, managing and operating the services of giving consulting and auditing financial statements for large enterprises operating in different fields; Mr. Dung attending in multiple training courses in respect of corporate finance, auditing, accounting and business administration held by international organizations, including auditing and accounting practicing courses taken place in Belgium and Ireland; 40

41 Key persons of A&C Qualifications Master of Economics Bachelor of Economics Bachelor of Laws CPA Vietnam Tax Practice Certificate Ly Quoc Trung Deputy General Director Overview Mr. Trung having more than 23 years working in the fields of corporate finance, accounting, and auditing; Mr. Trung directly involving in the audit on financial statements for hundreds of clients, including State-run enterprises, private enterprises, joint stock enterprises, and FDI enterprise in Vietnam; Mr. Trung having intensive experience in managing and directing the audit on financial statements of large manufacturing enterprises in different fields; Mr. Trung attending in multiple training courses in respect of corporate finance, auditing and accounting held by international organizations and involving in the researches into auditing in China; being able to speak Chinese fluently; 41

42 Key persons of A&C Qualifications Bachelor of Economics Bachelor of Laws CPA Vietnam Tax Practice Certificate Bui Van Kha Deputy General Director Overview Mr. Kha having more than 30 years working in the fields of corporate finance, accounting, and auditing; Mr. Kha directly involving in the audit on financial statements for hundreds of clients, including State-run enterprises, private enterprises, joint stock enterprises, and FDI enterprise in Vietnam; Mr. Kha having intensive experience in managing and directing the audit on financial statements of large manufacturing enterprises and large credit institutions; Mr. Kha attending in multiple training courses in respect of accounting, auditing and business administration held by international organizations, including the audit training courses taken place in Singapore, Malaysia, and China; 42

43 Key persons of A&C Qualifications Bachelor of Economics CPA Vietnam Tax Practice Certificate Nguyen Van Kien Deputy General Director Director of Nha Trang Branch Overview Mr. Kien having more than 25 years working in the fields of corporate finance, accounting, and auditing; Mr. Kien attending in multiple training courses in respect of corporate finance, accounting and auditing held by international organizations; Mr. Kien directly involving in the audit on financial statements for hundreds of clients, including State-run enterprises, private enterprises, joint stock enterprises, and FDI enterprises in Vietnam; Mr. Kien having intensive experience in accounting software and (in) directing the audit on financial statements for large manufacturing enterprises and hotel service providers; 43

44 Key persons of A&C Qualifications Bachelor of Economics CPA Vietnam Tax Practice Certificate Nguyen Hoang Duc Deputy General Director Director of Hanoi Branch Overview Mr. Duc having more than 20 years working in the fields of corporate finance, accounting, and auditing; Mr. Duc attending in multiple training courses in respect of accounting, auditing, and business administration held by international organizations; Mr. Duc directly involving in the audit on financial statements for many clients, including State-run enterprises, private enterprises, joint stock enterprises, and FDI enterprise in Vietnam; Mr. Duc directly involving in the audit on financial statements for many listed joint stock companies, public joint stock companies, large State-run enterprises, corporation and groups; Mr. Duc having intensive experience in organizing, managing and directing the consultancy on taxation and finance for large enterprises in different fields. 44

45 Key persons of A&C Qualifications Master of Business Administration Bachelor of Economics CPA Vietnam Tax Practice Certificate ICAEW Certificate in IFRSs Nguyen Ngoc Thanh Deputy General Director Partner in charge of Consulting and Training Services Overview Mr. Thanh having more than 15 years working in the fields of auditing, corporate finance, accounting, taxation and legality; Being the team leaders of the service engagements in the fields of petroleum, banking, post and telecommunication, manufacture and service; With years of experiences in financial, accounting, tax and legal field, Mr. Thanh directly managing works related to audit engagement as well as financial, accounting, taxation and legal consulting for State-run companies, joint stock companies, and FDI companies, etc. operating in all economic sectors as well as projects funded by foreign organizations. 45

46 Key persons of A&C Qualifications Technical Electric Engineer Bachelor of Economics Bachelor of Laws CPA Vietnam Tax Practice Certificate Le Huu Phuc Deputy General Director Capital Construction Audit Partner Overview Mr. Phuc having more than 30 years working in auditing capital constructions and investment projects; Having involved in the researches into auditing and accounting in overseas countries; directly involving in doing researches into and perfecting the accounting and auditing standards being applicable in Vietnam; Mr. Phuc having close relationships with multiple professional organizations; With years of experience working in the fields of corporate finance and accounting, Mr. Phuc directly involving in managing and directing the audit on capital constructions, financial consultancy, accounting and taxation for State-run enterprises, joint stock enterprises, FDI enterprises, etc. operating in different fields as well as projects funded by foreign organizations. 46

47 Key persons of A&C Qualifications Bachelor of Economics Bachelor of Laws CPA Vietnam Tax Practice Certificate Nguyen Huu Danh Director of Can Tho Branch Overview Mr. Danh having more than 18 years working in the fields of corporate finance, accounting, and auditing; Mr. Danh directly involving in the audit on financial statements for many clients, including State-run enterprises, private enterprises, joint stock enterprises, and FDI enterprise in Vietnam; Mr. Danh directly involving in the audit on financial statements for many listed joint stock companies, public joint stock companies, large State-run enterprises, corporation and groups; Mr. Danh having intensive experience in organizing, managing and directing the consultancy on taxation and finance for large enterprises in different fields. 47

48 5. Key clients of A&C Baker Tilly A&C has been providing services to more than 2000 clients operating in various industries and business sectors. 48

49 Key clients of A&C Groups Corporations 49

50 Key clients of A&C Petroleum service providers Credit institutions 50

51 Key clients of A&C Real estate traders and industrial parks 51

52 Key clients of A&C Manufacturers 52

53 Key clients of A&C Service providers 53

54 APPENDICES 54

55 Business registration certificate 55

56 Business registration certificate 56

57 Business registration certificate 57

58 Certificate of Eligibility for Audit Service Business 58

59 Certificate of Eligibility for Audit Service Business 59

60 Decision of Securities Committee on Permitting A&C to Provide Audit Service to Public Enterprises operating in securities field 60

61 Decision of Securities Committee on Permitting A&C to Provide Audit Service to Public Enterprises operating in securities field 61

62 Decision of the Ministry of Finance on Permitting A&C to Provide Audit Service to Public Enterprises 62

63 Decision of the Ministry of Finance on Permitting A&C to Provide Audit Service to Public Enterprises 63

64 Decision of the Ministry of Finance on Permitting A&C to Provide Audit Service to Public Enterprises 64

65 List of A&C s Auditors qualified for auditing the financial statements of public enterprises in 2019 No. Name of Auditor Certificate of Auditing 1 Võ Hùng Tiến Bùi Văn Khá Lý Quốc Trung Hồ Văn Tùng Dương Hồng Phúc Đỗ Thị Mai Loan Phan Vũ Công Bá Nguyễn Hoàng Yến Nguyễn Thị Ngọc Quỳnh Phạm Hoa Đăng Lê Thị Thu Nga Nguyễn Thị Phước Tiên Nguyễn Phước Hồng Hạnh Hoàng Thái Vượng Dương Thị Hồng Hương Bùi Ngọc Hải Nguyễn Chí Dũng Nguyễn Minh Trí Lê Thị Thu Hiền Nguyễn Ngọc Thành Phan Như Phong Nguyễn Quang Châu Võ Thành Công Trần Thị Thùy Quyên Lương Anh Vũ Lê Hữu Phúc Nguyễn Hoàng Đức Nguyễn Thị Tư Hoàng Thị Viết Nguyễn Văn Sâm

66 List of A&C s Auditors qualified for auditing the financial statements of public enterprises in 2019 No. Name of Auditor Certificate of Auditing 31 Phạm Quang Huy Trần Anh Tuấn Lê Văn Khoa Trần Kim Anh Nguyễn Văn Kiên Phan Thị Ngọc Trâm Hàng Quỳnh Hạnh Nguyễn Thị Kim Hồng Nguyễn Thị Lê Vy Nguyễn Hữu Danh Nguyễn Thị Bé Ghí Nguyễn Ngọc Quyên Vũ Minh Khôi Nguyễn Thị Minh Hà Trần Nhật Khuyên Trần Thị Cẩm Vân Lê Thanh Vân Nguyễn Quốc Ngữ Hồ Thị Kim Phi Trần Bảo Thanh Trần Thanh Thảo Lê Trọng Toàn

67 Certificate of Top 10 Credible Enterprises of Vietnam in

68 Certificate of Top 10 Credible Enterprises of Vietnam in

69 Certificate of Top 10 Credible Enterprises of Vietnam in

70 Certificate of A&C being an Authorized Training Employer of ACCA, CPA Australia and ICAEW 70

71 Certificate of A&C being an Authorized Training Employer of ACCA, CPA Australia and ICAEW 71

72 Certificate of A&C being an Authorized Training Employer of ACCA, CPA Australia and ICAEW 72

73 Contact info Head office Address : 02 Truong Son, Ward 02, Tan Binh District, Ho Chi Minh City Contact person : Mr. Vo Hung Tien General Director Tel. : (028) tien.vh@a-c.com.vn Hanoi Branch Address : 40 Giang Vo, Dong Da Strict, Hanoi City Contact person Mr. Nguyen Hoang Duc Deputy General Director cum Director of Hanoi Branch Tel. : (024) duc.nh@a-c.com.vn Nha Trang Branch Address : Lot STH 06A.01, Le Hong Phong II Urban Area, Nha Trang City, Khanh Hoa Province Contact person : Mr. Nguyen Van Kien Deputy General Director cum Director of Nha Trang Branch Tel. : (0258) kien.nv@a-c.com.vn Can Tho Branch Address : I5-13 Vo Nguyen Giap, Phu Thu Ward, Cai Rang District, Can Tho City Contact person: Mr. Nguyen Huu Danh Director of Can Tho Branch Tel. : (0292) danh.nh@a-c.com.vn 73

74 With our engagement to continuously improve the policy and method to serve our clients; with the professional experience continuously accumulated over the past 25 years of our auditors and consultants, we believe that you shall be pleased with the quality as well as the efficiency of our services 74