VIETNAM NATIONAL UNIVERSITY, HANOI

INTERNATIONAL SCHOOL
***

GRADUATE INTERNSHIP REPORT

INTERNSHIP COMPANY/INSTITUTION: THANG LONG-T.D.K AUDITING

AND VALUATION CO., LTD
Address: Sàn KT-TM và DV khu nhà ở CBTT – CA HN, Phường Yên Hòa, Q. Cầu
Giấy, TP. Hà Nội

Supervisor: Mr.Ngo Tri Trung

Student’s full name: Nguyen Bui Thanh Tung
Student’s ID: 16071262
Major: Accounting, Analyzing and Auditing
Class: AC2016A

Hanoi, April 2020

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 FOREWORD

Thanks
First of all, I would like to thank International School of Vietnam National University,
Hanoi for facilitating students to approach and work at businesses so that they can
learn practical knowledge, experience and get familiar with the new environment
through internship program. These are very necessary and rewarding experiences for
me in particular and for all students in general in the near future.
Second, I would like to express my special gratitude and deep regard to my advisor,
Mr. Ngo Tri Trung, who supports and guides me with the precisely methods through
the process of my thesis for his enthusiasm and immense knowledge. He provided
suggestions for the orientation of this report as well as dedicated to helping me
complete it.
And finally, I sincerely thank to the Board of Directors (BOD, hereafter) and the staffs
of Thang Long TDK where I practiced for 6 weeks. Thanks BOD for providing the
essential documents of the company as well as the staffs for your enthusiastic
guidance and facilitating me to study and work. Furthermore, I am very thankful to
my mentor for the assigned jobs and training during the internship period.

Yours sincerely,
Nguyen Bui Thanh Tung

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 Table of Contents

Preface:......................................................................................................................... 3
Chapter I: Overview of Thang Long Auditing and Valuation Co., Ltd. –T.D.K...........4
1.1. History of establishment and development of the company:............................4
1.2. Operating characteristics of Thang Long T.D.K..............................................7
1.3. Overview management characteristic of Thang Long TDK:.........................10
Chapter II: Auditing characteristics by Thang Long Auditing and Valuation Co., Ltd. -
T.D.K.......................................................................................................................... 12
2.1. Characteristics of organizing an audit team...................................................12
2.2. Organizational characteristics of audit work..................................................13
2.2.1. Audit implementation period.......................................................................................16
2.2.2. End of audit period......................................................................................................17
2.3. Organizational characteristics of arrangement of audit records:....................18
2.3.1. The audit file includes general technical feasibility study and annual technical
feasibility follows:........................................................................................................................18
2.3.2. General issues about the audit:...................................................................................20
2.4. Quality Control Auditing of TDK Financial Consulting, Accounting and
Auditing Services Co., Ltd......................................................................................21
Chapter III: Comments and solutions to improve the operation of TDK Co, providing
financial, accounting and auditing...............................................................................27
3.1. Comment on TDK Financial Consulting, Accounting and Auditing Services
Co., Ltd................................................................................................................... 27
3.1.1. Strengths of TDK:.........................................................................................................27
3.1.1. Weaknesses of TDK......................................................................................................29
3.2. Proposed solutions to complete operations at the Company..........................30
CONCLUDE............................................................................................................... 32
Schedule of the graduate internship............................................................................33
REFERENCES...........................................................................................................35

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 Preface:
In the process of studying and training at the Hanoi International University, I have
access and equipped with the knowledge, economic theory and lectures of teachers on
professional issues such as Accounting, audit, tax... Beside a number of issues such as
finance, accounting, marketing, auditing ... But to avoid being surprised after
graduation, the school has created conditions for me to access with practice, apply the
knowledge we have learned, have an objective awareness with all the issues
surrounding the business knowledge and management and development policies of
enterprises.

Practice is an opportunity for us to approach reality, apply the theories we have

learned in the school, promote ideas that have not been implemented in the learning
process. During this time, we have reseach to the business situation of the business, as
well as being able to observe learning styles and work experience. This is especially
important for final year students.

My internship in Thang Long Auditing and Valuation Co., Ltd - T.D.K, will
probably bring many valuable practical lessons for me personally. With the
enthusiastic help of the company's officers and employees and the guidance of Mr. Ngo
Tri Trung, I have a general overview about the operation of the company and complete
your graduation exercise with topic:

“Solution and improve the operation of Thang Long Auditing and

Valuation Co., Ltd. - T.D.K ”

Focus topic:

Summary outline the process of formation and activities of the company. From
documents, figures, information provided by the company, from which to learn and
research. From which to make comments, assessments and measures to overcome
difficulties as well as improve the efficiency of the company's business.

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 Research scope

The report will describe the operation situation and how the company audits its
customers. Evaluate the advantages and disadvantages of the company's business
operations and influence factor. The report also highlighted the status, advantages and
disadvantages of the company in auditing activities as well as proposed directions and
solutions.

The structure of the report is divided into 3 chapters

Chapter 1: Overview of Thang Long Auditing and Valuation Co., Ltd. - T.D.K.

Chapter 2: Characteristics operating by Thang Long Auditing and Valuation

Co., Ltd. - T.D.K.

Chapter 3: Comments and solutions to improve the operation of Thang Long

Auditing and Valuation Co., Ltd. - T.D.K.

Initially learning about the organizational structure, the services provided by T.D.K,
the way to organize and work, helped me partially explain why T.D.K has always been
one of the top choices of customers.

Due to the limitation of my time and knowledge, I might make mistakes, I am

looking forward to the advice and suggestions from the teacher to improve my writing.

Chapter I: Overview of Thang Long Auditing and Valuation Co.,

Ltd. –T.D.K
1.1. History of establishment and development of the company:
Thang Long Auditing and Valuation Co., Ltd - T.D.K was granted the business
registration certificate by Hanoi Department of Planning and Investment by number:
0104779158 date 29/06/2010.

The company is consolidated by two businesses:

• Thang Long Auditing and Consulting Co., Ltd. was founded in 2003 under a
license by number 0103002379.

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 • T.D.K Auditing and Software Services Co., Ltd. was founded in 2002 under a
license by number 4102008644.

Thang Long Auditing and Valuation Co., Ltd - TDK is a professional, legal auditing
company operating in the field of auditing, accounting, asset valuation, enterprise
valuation, financial consulting. , accounting, tax, training, etc. The company is one of
the first auditing companies licensed by the State Securities Commission to audit
public interest units in the field of securities, and is also a among the first auditing
firms in Vietnam to be licensed by the Ministry of Finance to provide enterprise
valuation services. The company is proud to be one of the seven largest auditing firms
in Vietnam with a large team of auditors, appraisers and technicians, having more than
13 years of experience in auditing, participating in the translation. Audit, valuation
services for many businesses, many projects of all economic sectors:

• Auditors: Being granted and managing certificates of auditing and accounting

practice by the Ministry of Finance; receive regular updates on accounting, auditing
and tax policies at Vietnam Association of Certified Public Accountants - VACPA;
Department of Accounting Regime, Vietnam General Department of Taxation.

• Appraisers: Issued by and managed by the Ministry of Finance; be updated

regularly about valuation at Vietnam Appraisal Association - VVA.

• Tax advisor: Certified by the General Department of Taxation as a tax procedure

service provider (Tax Agent), regularly updated with tax knowledge from Vietnam Tax
Consultants Association - VTCA.

• Being experienced chief accountants, accountants, technicians, graduated from

prestigious universities such as Financial Academy, National Economics University,
University of Civil Engineering, and University of Transport Transportation, FPT
University…

The company operates on the principle of independence, objectivity and

confidentiality of customer data with the motto that reputation and quality of service
are top priority and the goal is not to stop at confirming honesty and reasonableness of
financial statements, financial statements of completed projects, but also advises

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customers in the management and improvement of internal control systems, accounting
systems to bring maximum benefits favor for business.

Customer of the company:

Belonging to all economic sectors, in many different areas across the country.

By their dedication to their customers, our accumulated experience in our field of

expertise, we believe in our ability to meet your requirements and expectations for the
quality of our services. THANGLONG - TDK provided.

Thang Long T.D.K's offices and branches at:

7 Branches at:

o Miền Bắc

o Miền Nam

o Hà Nội

o Đông Bắc

o Đà Nẵng

o Đồng Nai

o TP.Hồ Chí Minh

Representative office at:

o Ba Vì

o Hưng Yên

o Bắc Giang

o Quảng Nam

o Quảng Bình

o Cao Bằng

o Hà Tĩnh

o Vĩnh Phúc

o Hà Nội

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 o Thái Nguyên

The company provides audit services based on the following as legal decisions:
1. Certificate of sufficient conditions for business registration of audit services
issued by the Minister of Finance on 04/11/2014.

2. Decision No. 2398 / QD-BTC dated 12/11/2015 of the Ministry of Finance

Approving the list of auditing firms and practicing auditors for public interest units in
2015 (Thang Long - TDK at position 16 in the list).

3. Decision No. 1055 / QD-UBCK dated 02/12/2025 of the State Securities

Commission, Ministry of Finance Regarding the approval of independent auditing
organizations audited for units with public interests in the field of securities.

4. Decision No. 2800 / QD-BTC dated 29/12/2015 of the Ministry of Finance

announcing the valuation consultancy organization authorized to provide enterprise
valuation services for equitization in 2016. (Thang Long - TDK at position 29 in the
list).

5. The certificate of eligibility for business registration of valuation services issued

by the Ministry of Finance on December 31, 2015.

6. Announcement No. 608 / TB-BTC dated 25/09/2015 of the Ministry of Finance

announcing the List of valuation enterprises and the List of price appraisers qualified to
practice asset price appraisal in 2015. (Thang Long - TDK at position 60 on the list).

7. Certification by Hai Phong Tax Department eligible to provide tax procedure

services.

1.2. Operating characteristics of Thang Long T.D.K

For customers: Providing superior quality services, reasonable prices, to meet the
needs and legitimate interests of customers. We always uphold the spirit of cooperation
and development and commitment to become a "reliable companion".

For employees: Building a complete working environment, science, dynamic,

professional and humanities; facilitate high income and equitable development
opportunities for all employees.

Vision-corporate goals:
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  Sustainable development: With the investment strategy - sustainable
development, Thang Long Auditing and Valuation Co., Ltd - TDK - Northern Region
(ThangLong-TDK-MB) has been striving to become Cong providing accounting,
auditing and leading tax agents in Hai Phong in particular and the North in general;
 Reputation: Create the highest confidence of customers for service quality and
service style;
 Working environment: Building a complete, scientific, professional and fair
working environment to create conditions for employees to constantly develop
professional ethics, professional competence and practical experience. see off;
 Personnel: A gathering place for you to constantly seek knowledge, develop
skills, improve capacity, love accounting, auditing and wholeheartedly serve
customers;
 Finance: Being a strong business in finance, creating high income and living
standards for all employees.

Commitment to service:
• Independence - Objective - Data confidentiality;

• Complying with professional standards and professional ethics;

• Commitment on progress according to the audit plan;

• Commitment to the quality of audit services;

• Promptly advising problems, with specific references of State regulations;

• Working professionally;

• Reasonable fees in accordance with State regulations and agreement based on

legitimate interests of the parties

Services provided by Thang Long T.D.K to customers:

Audit settlement services for basic construction projects

• Auditing of the settlement reports of completed projects

• Auditing the settlement report of investment expenses made.

Audit of financial statements:

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 • Auditing entities with public interest;

• Auditing the consolidated financial statements;

• Auditing annual financial statements for all types of businesses;

• Audit determining contributed capital;

•Compliance audit.

Business valuation service - Equitization consultancy:

• Service of determining the value of corporate assets for the conversion of company
ownership, participation in the stock market, participation in capital contribution to
joint ventures, partnerships, business cooperation contracts ...;

• Consultancy of preparation and selection of plans for equitization, sale,

contracting, leasing of enterprises

Property valuation service

• Valuation of property as real estate;

• Appraising property values as movable;

Consulting services financial policies, accounting, taxes, laws of the company

are available:

• Answering the problems of the Enterprise in the course of operation, instructions,

clear reference to each specific document, giving appropriate solutions to the actual
situation of the Enterprise;

• Providing tax agent services: Tax declaration, tax finalization advisory, tax refund,
tax optimization;

• Providing legal documents and policies;

• Advice on procedures and procedures for managing basic construction projects;

• Consulting the accounting and tax process;

• Consulting on corporate law, labor law, economic contracts, labor, wages ……;

• Management consultancy, cost savings of Enterprises;

• Advice on using enterprise accounting software;

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 Business awards achieved:

 For more than 13 years of operation, the Company has been honored to receive
many valuable and valuable awards, some of which are:

• The company is ranked 7th out of more than 160 enterprises eligible to practice
auditing and is in the Top 10 largest auditing companies in Vietnam in terms of the
number of customers based on the aggregate of VACPA (Association of practicing
auditors Vietnam) for 3 consecutive years: 2012, 2013, 2014.

• Awards: Enterprise integration and development 2008 “Has been awarded with
the“ 2008 Business Development and Integration Award ”of Ministry of Industry and
Trade.

• 2008 "Top Trade Services Awards" - Ministry of Industry and Trade.

• 2010 "Top Trade Services Awards" - Ministry of Industry and Trade.

• 2013 "Top Trade Services Awards" - Ministry of Industry and Trade.

1.3. Overview management characteristic of Thang Long TDK:

Administrative-Human resources

Treasurer accounting
Business division
Business, translate

Technical department, Media room

Board of manager
Quality control department of accouting
consulting

Basic construction audit room

Organizational
Block
Auditing financial statement department

Accounting service department

Organization chart of Thang Long TDK

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 The Company is headed by a Board of Directors. Under the board of directors are
the Organizing Division and the Professional Division. The organizational unit is the
Board of Directors directly managing the departments in the Company and its
branches.

The departments in the Company are the places to directly implement the work for
customers and generate revenue, each department is under the control of a manager and
from 1 to 3 deputies depending on the level of necessity. Thang Long TDK's
management organization is highly independent and specialized among departments,
yet it ensures unified management under the direct leadership of the Board of
Directors, the Operations Division and the Organization Division function.

Partner:

 Phuc Minh Accounting & Tax agent Co., Ltd

Legal representative: Bui Son Tung

Address: Lot 3 - BT1, Urban Area of South Lach Tray River, Anh Dung Ward,
Duong Kinh Dist- Hai Phong

Services provided: Package Accounting, Tax Accounting, Tax Agent, Financial

statements preparation

www.ketoanphucminh.com

 Dong Quang Lawyer Office

Lawyer: Do Van Quang

Address: Số 24/442 Tôn Đức Thắng, Hải Phòng

Services provided: Legal services for Business, Trade & Finance, Real Estate, ...

www.dqlaw.com.vn

 EZSOFT Joint Stock Company

Legal representative: Nguyen Van Tam

Address: Room 1431, Floor 14, Hapro Building, Số 11B Cát Linh, Phường Quốc Tử
Giiếu, Dong Da District, Hanoi

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 Services provided: 3TSoft accounting software (Bilingual: Vietnamese - English /
Chinese / Japanese / Korean)

www.ezsoft.vn

Chapter II: Auditing characteristics by Thang Long Auditing and

Valuation Co., Ltd. - T.D.K.
2.1. Characteristics of organizing an audit team.
An audit conducted by TDK from start to finish to release audit reports to customers
is a methodical process divided into 3 phases: Preparation, implementation and
completion. The three phases of human resource intervention are not the same, TDK
always tries to ensure the close coordination of personnel in order to give high
consensus and achieve accuracy in the ideas raised.

- The preparatory work includes the following tasks:

Survey, evaluate customers and draft, agree, sign contracts: The Board of Directors
provides preliminary information of customers to the Manager / Deputy Manager in
charge. The head / deputy head of the department is responsible for setting up a
customer survey and evaluation team. When the service contract is signed with the
customer, the head / deputy manager in charge of assigning tasks to the team leader /
audit assistant will take the travel document and advance proposal, through the head /
deputy. general room and reception room.

- The preparatory deployment audit the following tasks:

Personnel in a TDK audit team for a common audit contract will have from 3 to 6
people. This includes 1 team leader and the rest are audit assistants. Changes in
personnel or other arrangements will depend on the specific requirements of each audit.

The audit team leader is responsible for exchanging information and agreeing on the
audit results with clients, exchanging information with team members in the course of
performance and reporting the results of the work. Audit assistants will discuss
business-related issues with clients and with the audit team leader.

- Stage of ending the audit:

Relevant personnel: Auditors / assistants are assigned to report, the head / deputy
manager is in charge, the general director / deputy general manager is in charge.
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 Auditors / assistants who are assigned to report take the report number and affix the
stamp at the general room, then send the report with the head / deputy manager in
charge to review the room-level report. The head / deputy head of the department after
reviewing the report will submit it to the General Director / Deputy General Director to
review the company-level report for the highest consistency and then to issue the
inspection report. Payment for customers.

2.2. Organizational characteristics of audit work

An TDK audit is summarized in the following diagram:

Find out, survey about

business operations and
management organization
Audit of the company.

planning
Auditing planning (strategic
stage plan, overall plan and audit
program design).

-Perform contral tests.

-Perform basic tests
Audit (analysis procedure,
implement detailed testing procedure
of operations and
period balances).

Review evens arising after

the financial statements
date.
End of
audit
period Prepare audit report, make
management letter (if any).

Audit planning stage:

 Approach to customers:

The diagram above shows that TDK organizes an audit starting from the approach to
customers, with TDK patrons who are familiar with the industry characteristics,
14
business nature and have a database base. Keeping records of audits from previous
audits, TDK will be inclined to consider and evaluate only significant changes that
have a great influence on customers and directly affect the audit as a change. Large
changes in personnel, capital size or expansion are telling the market. Particularly for
new customers, TDK conducts researches and assessments of the general business
activities of customers such as products, consumption markets, organizational
structure, key activities ... Overall assessment of customers for signing audit contracts,
conducting the audit effectively, achieving high results and creating good relationships
with customers in the future.

Therefore, the applied TDK audit approach is to focus not only on the financial
statements but also on the business activities of the customers and in association with
the requirements of the management of the application. the customer.

Through getting to know customers, TDK places a lot of emphasis on mastering key
operations and investing time and manpower in audit planning. To minimize audit risk
TDK has designed and implemented audit procedures to address the risks of material
misstatements in the databases. At the same time, when understanding that TDK
customers will have an appropriate initiative in arranging personnel in terms of
structure, number of auditors and assistants participating in the audit.

TDK insists on understanding the operations and relying on the reality of business
management and customer control. When recognizing weaknesses in processes and
controls, TDK will promptly notify the customer.

Presentation of whether the financial statements are prepared in material respects in

accordance with applicable accounting standards and applicable regulations.

Helping the customer unit succeed in the market by exceeding customer

expectations from auditing and augmenting their benefits.

 Audit planning:
Auditing planning is the first stage necessary for all audits. The audit planning stage
conducted carefully and accurately will help to carry out the following stages with
good results. Therefore, TDK pays special attention to this period.

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 The planning phase will start right after TDK and customers sign the audit contract.
Contents of an audit plan include:

Information about customer activities and changes during the audit year. The auditor
will collect information about the legal basis, field of operations, management capacity
of the customer, general understanding of the economy that affects customer
performance, business performance characteristics. and changes in production and
business activities. From there the auditor makes judgments about the level of financial
risks and financial costs of customers.

Terms that the audit engagement should emphasize include requirements for
execution time, requirements for audit reports and management letters.

Knowledge of accounting system and internal control system: Accounting period,

monetary unit used in the accounting period, applicable accounting standards and
regimes, principles of recording amounts of cash and cash equivalents Money, the
principle of inventory recognition, the principle of recognizing fixed assets and
depreciation of fixed assets….

 Sales revenue:

Sales of goods are recognized simultaneously meeting the following conditions:

- Goods have been moved out of the warehouse for delivery to customers and a
financial invoice is made;
- Most of the risks and benefits associated with ownership of the product or
goods have been transferred to the buyer;
- The Company retains neither continuing managerial involvement to the degree
usually associated with ownership nor effective control over the goods sold;
- The revenue can be measured reliably;
- The Company has gained or will gain economic benefits from sales
transactions;
- Determining expenses related to sales transactions;
 Service level revenue

Revenue from rendering of services is recognized when the outcome of such

transactions is reliably determined. Where the provision of services is related to

16
multiple periods, revenue is recognized in the period according to the results of work
completed on the balance sheet date of that period. The outcome of a service delivery
transaction is determined when the following conditions are satisfied:

- The revenue can be measured reliably;

- Ability to obtain economic benefits from the transaction of rendering such
services;
- Determining the work volume to be completed on the date of making the
Balance Sheet;
- Determine the costs incurred for the transaction and the cost to complete the
transaction to provide that service;
 Financial income

Revenue arising from interests, royalties, dividends, shared profits and other
financial income is recognized when both of the following two conditions are satisfied:

- Ability to obtain economic benefits from such transactions;

- The revenue can be measured reliably

2.2.1. Audit implementation period

Conducting an audit is the period when auditors will conduct the audit in accordance
with the proposed plan. By focusing on customers and paying great attention to TDK's
audit plan and audit assistants, they start working proactively, independently and
effectively.

TDK conducts an initial risk assessment for each customer individually and places an
audit focus on higher risk areas.

During this period, the Auditors who are assigned to audit must carry out their work
according to the detailed plans made for each audited department. That detailed plan
has defined the specific audit sequences and tactics, specific work steps to be
performed such as: “document reconciliation check, book check and accounting report,
reconciliation of contracts, liabilities, bank reconciliation, inventory of assets, supplies,
prices, calculation and analysis of expenses, etc. Typically these plans are very flexible
to minimize annoying customers and getting the best results.

17
In the process of auditing with practical experience of the audit team, close process
with customers, TDK helps customers best deal with financial accounting and
accounting requirements and business difficulties. Joint often encountered.

Currently TDK Auditing Company has built and implemented an audit program that is
both scientific and practical and reasonable. This program has really brought about
efficiency in improving labor productivity and contributed to providing information
with high reliability for economic and financial management and business
administration of customers.

In this phase, the main objective is to perform control tests and basic tests according to
the audit program designed during the audit planning stage.

- Perform control tests:

The control test is conducted after understanding the internal control system of the
customer, then the control procedure is implemented to collect evidence of the design
and implementation of the internal control system.

If an internal control system is audited, the auditor will find that it does not match the
initial assessment in the audit plan, additional inspection procedures need to be carried
out.

- Perform basic tests:

The basic tests conducted include analytical procedures and detailed testing
procedures.

Through analytical procedures, auditors can detect abnormal fluctuations. From there,
the detailed inspection procedures that need to be conducted will guide the business
and the item balance.

2.2.2. End of audit period.

The end of the audit is the final step of the audit. During this period, the auditors will
conduct review of events arising after the date of the financial statements, summarize
and evaluate the evidence gathered during the audit process to give confirmation. on
the reasonable honesty of the Balance sheet as well as compliance with current
standards and accounting regime on the audit report.

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Along with the release of the audit report on financial statements of TDK customer
unit, the Company also issued a Management Letter to make recommendations to help
the customer management to reorganize the financial and accounting management. ,
building and perfecting the accounting system and internal control system.

2.3. Organizational characteristics of arrangement of audit records:

In TDK's documents, audit records are those that are collected, classified, used and
stored by auditors. Documents in the audit records may be presented on paper, film,
photos, on computer or any other storage media. Auditing records are the result of the
labor of topasn auditors and audit assistants, evidence that an audit has been performed
in accordance with Vietnamese Standards on Auditing (or International Standards on
Auditing). An audit record is also a source of support for a previous audit for a later
audit with the same client.

An audit record contains an audit plan, the performance of the audit including the
content, program and scope of the procedures performed, the results of the procedures
performed, and the conclusions. The audit that the auditor draws from the audit
evidence gathered. A quality audit record when sufficient and detailed information is
obtained so that other auditors, who are responsible for reviewing, will fully
understand the audit and its basis opinion of auditors.

2.3.1. The audit file includes general technical feasibility study and annual
technical feasibility follows:

- The audit records general includes:

The audit records includes general information about the customer relating to two or
more audits over a financial year of a customer. The general technical feasibility study
helps the auditors have a thorough view from the beginning of providing services to
customers to the current year, updated annually, used regularly, over many years and
not transferred to the archive.

The audit records usually includes: general information, legal documents, tax
documents, personnel, accounting documents, documents on contracts and procedures.
In tax regulations, personnel, accounting documents, documents about contracts and

19
procedures. In regulation of symbols of TDK they are: TTI, TTII, TTIII, TTIV, TTW,
TTWI, TTWII.

For example:

- TTI: General information about customers including company charter,

establishment license, business registration, joint venture contract, minutes of
shareholders' meeting, board of directors, ...
- TTII: Documents about the law
- TTIII: Documents about tax finalization, tax examination record,...
- TTIV: Human resources documents such as labors agreements, labor contracts,
…
- TTV: Accounting documents.
- TTVI: Documents about contracts such as credit contracts, service contracts,…
- TTVII: Procedures for fixed assets, warehousing, funds, personnel,…

The audit records general is designed in the form of a form, used consistently, avoiding
the omission of necessary information, collecting information in the form and copies of
information excerpts. It is important for the audit records general feasibility study to
update regularly the information after each audit, not discard existing information and
save soft copies for flexible use with increasing information volume.

- The audit records of years:

The audit records is the summary of all documents related to the audit of a customer in
a fiscal year, a direct basis for forming audit opinion, reviewing audit quality and being
a source of support. Positive information for the following audits.

Technical Proposal contains:

General information about the audit

General issues about the audit

The options practics

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 - General information about the audit:

Provide general understanding about customers, personnel involved in the audit, time,
place of auditing, etc.

2.3.2. General issues about the audit:

- Includes 11 basic issues sorted by reference symbols in Roman numerical order
as follows:
i. Audit report, management letter
ii. Summary of audit work for the year
iii. Events arising after the release of the audit report
iv. Unknown issues need to be addressed
v. Events arising after the year of auditing
vi. Matters to note for the audit next year
vii. Explanations of the enterprise
viii. Audit plan
ix. Minutes of meetings with customers
x. Minutes of the board meeting
xi. Other documents
- Audit operations:
Includes detailed audit sections for items, detailed accounts made during the year. The
audit sections are marked with a reference according to the letter A to F.

For example:

A. Financial statements of customers

B. Summary of customer internal control system
C. Money
D. ...
E. Income and other expenses
F. Other

In the sections A and B, the document information is arranged in a particular order,

the other sections are arranged on the principle of going from general to detailed as
follows:

21
Summary page audit conclusion page audit program working paper relevant
documents obtained by audit evidence.

Follow the general principles, but besides that, the audit record also has its own
points, this is due to the direct influence on how to assess the professional issues, the
working style of auditors participating in the audit. ...

In order to improve the professional, scientific working spirit in mutual learning,

TDK, after each audit season, conducts annual audit records for its auditors and issues
regulations on reward levels, appropriate penalty, this is one of the positive points that
help the auditors work more carefully.

Regulations about the audit security records.

Audit records must be archived according to the Company's archiving regulations. All
audit records are scientifically arranged by customer name, by the time the audit is
conducted, complete, brief information is labeled on the record.

All information must be kept confidential, not providing audit records for parts and
individuals without related work, audit records owned and owned by the Company,
only provided. issued to outside level with the consent of the General Director.

2.4. Quality Control Auditing of TDK Financial Consulting, Accounting

and Auditing Services Co., Ltd.
TDK auditing quality control is carried out in three stages: control before the audit,
during the audit and after the audit is completed.

- Auditing before an audit:

The head and deputy head are the ones who are in charge of direct control over the
stage and through the planning of personnel, time, and location layout suitable to each
customer. The reasonable distribution of personnel is a prerequisite for an audit to
achieve the desired quality, so TDK considers personnel to be the key and always has
a satisfactory investment in its employees. people who adopt policies such as
recruitment, commendation, discipline ...

- Control during the audit:

During the preparatory phase and the implementation stage of the audit is the self-
control of the direct working group, mainly through the team leader. The team leader
22
 is responsible for allocating work to each member of the team according to their
capacity, experience, directing coordination and making work unification. The team
leader will have to understand all the problems, problems of other members of the
group, discuss and cooperate to solve them together. Performing audit procedures in
accordance with the proposed plan and audit program, achieving high independence
and the spirit of effective, prompt and quality work.

Stage of ending the audit: The final audit report is the result of the audit done to the
customer through three levels of review according to the following diagram:

Diagram: End of audit

This process allows limiting the risks in the audit engagement to achieve strict control
and to give the most appropriate audit opinion.

- Control after the audit:

The quality control of audit services provided to clients during the audit year is
conducted by evaluating audit records. Through which the chief / deputy or the
competent person will assess the level of work performed by the audit team has met
the requirements of the job or not. Specifically, they will comment on a sample table
of questions as follows:

ST Question Reference Reference Comment Note

T to standard control

23
 Standard record
number -
paragraph

Questions about quality auditing for audit planning.

1 Accept new customers and maintain old 220-12 Survey and

customers. customer

In the process of maintaining an existing evaluation-

client and assessing the potential client, Auditing plan.

the auditor shall take into account the

independence, competence of the client of
the auditing firm and the integrity of the
management team:

a) Establishment of procedures for

evaluation and acceptance of potential
customers.

b) Assess customers when special events

occur.

2 Understand the customer.

2.1 The audit team has considered and 300-22 Overall audit plan.
presented in the audit plan information 310-02
about the business activities of the audited
310-05
entity enough to be able to evaluate and
analyze the events of the audited units 310-10

which according to the auditors. The

auditor is materially influenced to the
financial statements, to the auditor's
examination, or to the auditor's report.

2.2 The audit team does consider the 400-02,25 Overall audit plan,
customer's accounting system to make an 300-22 part B-Annualy
effective overall audit plan and audit
24
 program effective. audit records.

2.3 Whether the audit team considers the 400-02 Overall audit plan,
client's internal control system to create an part B-Annualy
effective and appropriate overall audit plan audit records.
and audit program.

3 Risk assessment

3.1 The audit team does evaluate the potential

risks for the financial statements of the
audited entity.

This evaluation has been done in terms of

financial statements and in terms of
business account balance.

4 Preliminary analysis

5 Determination of materiality

6 The parties involved

..

Questions about audit quality for the period of auditing

1.1 Risk assessment and internal control 400

1.2 Are the audit environment control Overall audit plan,

procedures and accounting system of the part B- Annualy
entity audited to identify potential risks? audit records.

2 Audit evidence.

25
 …

3 Additional audit evidence for special items

and events.

4 Using materials of other auditors.

5 Analytical process.

6 Fraud and errors.

7 Audit sampling.

8 Auditing the first year - Balance at the

beginning of the financial year.

9 Explanation of Director.

10 Audit accounting estimates.

Questions about auditing quality for the period ending the audit.

1 Auditing record.

2 Auditing report.

3 The analytical process during the overall

review phase.

...

26
4 Materiality in the period of ending the
audit

5 Influence of events arising after the

balance sheet date.

Diagram: Evaluation of the quality of auditing services provied by TDK.

Thus, through the supervision in all three stages, the quality of auditing services
provided by TDK will always be improved, renewed, and build increasingly solid trust
among customers in particular and the industry. Audit of Vietnam in general.

Chapter III: Comments and solutions to improve the operation of

TDK Co, providing financial, accounting and auditing.
3.1. Comment on TDK Financial Consulting, Accounting and Auditing
Services Co., Ltd
3.1.1. Strengths of TDK:
Firstly, looking at the development process of TDK, it is easy to see that TDK is one
of the auditing companies currently quite young when entering the Vietnam Auditing
market, but the company is constantly changing and developing to be stable. gold
advanced with the development of Vietnam's economy and the world.

- About organizational structure management:

TDK has changed once about the form of enterprises, changing to the form of Limited
Liability Company with two or more members. This work follows the general trend of
the Vietnamese economy in recent years and changes have created better conditions
for independent management and require continuous development progress in an
increasingly competitive environment. competition for managers of TDK. The timely
transformation of the enterprise form has created a momentum to improve the
management capacity, from which the cooler structure has also changed accordingly.
The centralized and independent management between departments in the Company
has increased the overall efficiency, reduced the burden of work and reduced
management costs as well as the cumbersome of administrative procedures. On the
other hand, helps the Company continuously increase sales and profits.

27
Number Years Net revanue (VNĐ)

1 2015 20,980,098,800

2 2016 21,355,466,780

3 2017 21,456,708,800

4 2018 22,643,607,700

5 2019 25,560,904,050

Diagram: The revenue of TDK in recent years.

- About personnel organization:

The contingent of qualified and capable officials, who have firm bravery and good
professional ethics in large numbers. TDK managers find that HR policy is the best
policy that can help TDK success. Currently TDK has a system of detailed regulations
related to personnel including:

• Employee regulations

• Terms of employment

• Professional ethics

• Wages and financial regulations (rewards, benefits,...)

• Describe the job position

•….

TDK is currently applying a good recruitment policy, so the quality of its employees
is highly appreciated and stable. TDK's employees work in a dynamic and efficient
environment, the policy of supporting staff with the provision of short and long-term
training courses is in the top strategy and currently TDK has a team of experts with
extensive experience in the field of teaching to create training programs and conduct
training in the most effective way.

- Regarding the quantity and quality of services provided by TDK to

customers:
The history of development with good staff is the basis for the number and quality of
services that TDK provides to customers. Currently, TDK offers six basic services:
28
Accounting consulting, auditing, valuation and tax financial advisory. Regarding the
quality of auditing activities in particular, TDK has built and updated the standard
work processes in accordance with the Vietnamese Standards system, International
Standards and the legal system, widely accepted and achieved. Trust from customers.

With a long list of services available to customers, TDK can make it easier to secure
contracts with major customers, national and international key projects in Vietnam.
Male. Experience in large-scale financial review, in-depth knowledge of businesses
operating in Vietnam helps TDK succeed, increasing competitiveness.

Moreover, in the present time, when Vietnam is developing the basic construction,
mushroom-like constructions require a huge amount of audit resources, grasping this
together with the experience in auditing. In the field of basic construction, TDK has
focused on this area and is currently operating very strongly, accounting for the largest
market share of all other auditing companies.

- Regarding development trends:

The strength of TDK is also reflected in the constant updating of information,
innovation in the approach to work to meet practical needs, in compliance with
domestic and international Standards and the provisions of law. Auditing activities are
now no stranger to the Vietnamese economy and in fact, the audit is gradually
showing its positivity. The increasing demand for auditing has led to an increase in the
number of auditing companies, so the increasing professional competitiveness requires
constant innovation and improvement in methods, career thinking and working style.
The need to be more professional and constantly innovate to meet the market. Seeing
this, TDK always listens to customers, understands customers' needs, and then offers a
working method to create the greatest value for them based on compliance with laws
and standards. of Vietnam and the World.

1.1.1. Weaknesses of TDK

- About organization and management:
TDK organizes management in a centralized and decentralized manner, with top-
down control mainly, lacking close cohesion among departments. The superiors can
control the whole situation of the Company. However, from an individual perspective,
this separation is not beneficial in building a good image of the Company they are
attached to. Especially for the auditing industry, the level of going to work and
29
working at customers is more than in the Company, the employees of the Company
are less able to meet and work together. Therefore, the board of directors also needs to
pay more attention to creating a co-working environment, building a good image of
the Company, a spiritual dish for employees to work hard, effectively and sticking
more.
- About personnel organization:
At the time of the audit, due to the large workload and often having to travel far. A
temporary shortage of personnel is likely to occur, which is also highly dependent on
the auditor's ability to arrange an audit team and the shortage of auditing personnel is
also a common problem for the industry as a whole.

- In terms of career:
The thickness of achievements and the awards achieved can be a clear testament to the
advantages accumulated by TDK. Being a member of the TDK Vietnam Auditing
Company system does not exclude from a number of problems that may arise in the
operation due to both objective and subjective factors. Objective factors include
macroeconomic, microeconomic conditions, overlap of legal documents, increasing
competition between auditing companies. Subjective factors may be the attractiveness
of high profits, self-interest or weakness in the auditor's professional skills ...
Some of the weaknesses that exist below the small scale can be listed below of
general audit activities in Vietnam today:
Auditors work lack of independence and autonomy: The cause may be due to high
profits or auditing companies often provide accounting and auditing services, long-
term customer relationships year,... This has a certain effect on the independence of
the auditor.
Auditors reckless occupation, working skills are not high,...
3.2. Proposed solutions to complete operations at the Company
To overcome the existing weaknesses and develop strong thinking, it is necessary to
develop challenging plans in the short and long term.
In the short term, the organizational structure needs to have specific activities to create
close cohesion among the departments and employees within the Company. This can
be achieved through organizing highly collective events such as professional, sports,
entertainment, tourism, and more.
Regarding personnel activities such as preparing a good recruitment policy, policies to
support and encourage employees' capacity should be continued and paid more
attention. Auditors, assistant auditors improve their qualifications through courses
taken by ACCA, CPA, ...

30
Regarding operational quality: It is necessary to continue controlling the operation
quality according to the objective practical conditions and controlling the quality of
personnel.
In the long term, TDK needs to develop an operational strategy towards customers and
human resources. Modernizing organization and audit activities. Promote scientific
research and application of advanced technologies and audit methods into operation.
Besides, more attention to affirming TDK brand, attention to business culture,
marketing activities, professionalism and influence. There are long-term personnel
training strategies such as long courses, policies on talent remuneration, strict and
effective recruitment.

- The proposed solution with the authorities:

Complete and update the system of auditing standards to keep pace with changes of
the International Standards system.
Select and set up a system of accounting rules accurately and conveniently.
Completing the independent audit law.
Perfecting the legal system in the direction of simplifying, removing the overlap
between legal documents.
Continue to build an industrialized, modernized, healthy and sustainable economy,
strengthening trust for all stakeholders.

31
 CONCLUDE
Through the contents presented on TDK financial consulting, accounting and auditing
services company from the birth, development and orientation for the future, partly to
see the existence of TDK is completely appropriate. in line with the development and
indispensable needs of the current Vietnamese socio-economy.
Going through the ups and downs of the economy with many small fluctuations, TDK
has always known itself to change in the direction of progress to best meet the
requirements of reality, increasingly expanding its influence and lifting. enhance
competitiveness and above all, build sustainable trust from our customers.
The development history, the current potential and the right orientations are the basis
for the hope of a bigger image of TDK in the future, greater prosperity, along with
other companies in the industry. contributing to the overall development of a fledgling
but thriving audit in the economy of Vietnam.
Finally, I would like to express my sincere thanks to the devoted guidance of Master
Teacher Ngo Chi Trung for completing this article.

32
33
 VIETNAM NATIONAL UNIVERSITY, SOCIAL REPUBLIC OF VIETNAM
HANOI
Independence – Liberty - Happiness
INTERNATIONAL SCHOOL

Schedule of the graduate internship

1. Internship Company/Institution Thang Long – T.D.K Auditing and Valuation

Co., LTD
2. Supervisor: Mr. Ngo Tri Trung
3. Student’s full name:Nguyen Bui Thanh Tung
Student’s ID: 16071262 Class: AC2016A
Major: Accounting, Analyzing and Auditing

Week Date Tasks performed

 Sign an official confirmation for the internship
24/02 – 29/02  Find out detailed information about the company,
especially the accounting department, learn about
1 the company's accounting policy.
 Learning some office work like printing vouchers
 Learn the table of Vietnamese financing accounts
system.
 Receiving accounting work in accounting
2 department
02/03 - 07/03
 Survey the implementation of project.
 Start test financing with previous audits
3  Enter test financing data under the guidance and
09/03 – 14/03
inspection of Mr. Cuong.

4 16/03 – 21/03 The same week 3

34
Week Date Tasks performed

5 23/03 – 28/03 The same week 3

Prepare internship report according to experience at

company. Revise and complete thank to financing
30/03 – 04/04
6 department support. Express gratitude toward
colleagues especially accounting team whose support
that help me to complete internship period perfectly.

35
 REFERENCES

[1]. Textbook “Sơ đồ kiểm toán doanh nghiệp vừa và nhỏ” – Financial Publisher.
[2]. “Hướng dẫn thực hành hạch toán kiểm toán, bài tập và lập báo cáo tài chính
doanh nghiệp thương mại và dịch vụ” – Statistical Publisher.

[3]. Books and vouchers at the financing department of Vietlux.

Websites:

- http://kiemtoanthienung.vn/
- http://webkiemtoan.com/
- http://dankiemtoan.com/

36
ĐẠI HỌC QUỐC GIA HÀ NỘI CỘNG HOÀ XÃ HỘI CHỦ
NGHĨA VIỆT NAM
KHOA QUỐC TẾ Độc lập - Tự do - Hạnh phúc

BẢN NHẬN XÉT THỰC TẬP TỐT NGHIỆP

(Dành cho đơn vị nhận TTTN)

Sinh viên:.............................................................................................................................
MSSV: ….......... Lớp: ….…............................Ngành: .......................................................
Đơn vị thực tập:
Thời gian thực tập: Đợt … năm học … (từ ngày …/…/20.. đến ngày …/…/20/..)
Người hướng dẫn tại đơn vị:................................................................................................
Chức vụ:
Số điện thoại:
1. Chấp hành nội quy, quy định tại đơn vị
…………………………………………………..................................................................
…………………………………..........................................................................................
…………………………………………………………………………………………
……………
2. Đánh giá về thái độ làm việc
.............................................................................................................................................
.............................................................................................................................................
.............................................................................................................................................
……………………………………......................................................................................
3. Đánh giá về kiến thức, kĩ năng trong công việc được giao
.............................................................................................................................................
.............................................................................................................................................
.............................................................................................................................................
.............................................................................................................................................

Xác nhận của đơn vị thực tập Hà Nội, ngày … tháng … năm…
(Ký, ghi rõ họ tên và đóng dấu) Người hướng dẫn
(Ký và ghi rõ họ tên)

VIETNAM NATIONAL UNIVERSITY, SOCIAL REPUBLIC OF VIETNAM

37
 HANOI
INTERNATIONAL SCHOOL
Independence – Liberty - Happiness

Graduate Internship Evaluation

(for Supervisor)

Student’s full name: Nguyen Bui Thanh Tung

Student’s ID: 16071262 Class: AC2016A

Major: Accounting, Analyzing and Auditing

Internship Company/Organization: Thang Long – T.D.K Auditing and Valuation
Co., LTD

Supervisor: MR. Ngo Tri Trung

1. The performance of the schedule:

Internship period starts from24/02/2020 to 05/04/20202

Awareness, attitude:

…………………………………………………………………………………………..

…………………………………………………………………………………………..

…………………………………………………………………………………………..

2. Other comments:
…………………………………………………………………………………………..

…………………………………………………………………………………………..

…………………………………………………………………………………………..

Hanoi, …………………………………

Supervisor

(Signature and Full name)

38