Regulations on Review Services for Historical Financial Statements

The review service for past financial statements is regulated as follows:

- The review of past financial statements is a limited assurance service as presented in the Vietnamese Framework for Assurance Service Engagements.- When reviewing financial statements:- The auditor provides a conclusion to enhance the reliability of the report for users regarding whether the financial statements are prepared according to the applicable framework for the preparation and presentation of financial statements.- The auditor's conclusion is based on the limited assurance the auditor has gathered.- The review report must include a section explaining the nature of the review service as well as the basis for readers to understand the conclusion in the report.- The auditor primarily conducts interviews and analytical procedures to gather sufficient appropriate evidence as a basis to provide a conclusion about the overall financial statements according to the standards prescribed by this Standard.

In cases where the auditor identifies issues that lead them to believe the financial statements might contain material misstatements, the auditor must design and perform any necessary additional procedures, depending on specific circumstances, to be able to provide a conclusion about the financial statements according to the provisions of Standard 2400.

For details of Standard 2400, refer to Circular No. 65/2015/TT-BTC effective from January 1, 2016.

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