Investment Capital Final Settlement Audit in Vietnam: A Guide

If your company holds a stake in a project in Vietnam, or your parent company needs audited final accounts for a capital project, you may be asked for a final settlement audit of investment capital. In plain terms, this is an independent review of all costs of a completed project, checked against contracts, measured quantities and payment records, so that the final settlement value can be approved. This guide explains how the process works for Australian, New Zealand and Singapore investors and their advisers.

What is an investment capital final settlement audit in Vietnam?

In Vietnam, a completed capital project goes through a final settlement, often described as quyết toán vốn đầu tư. The investor compiles all project costs, from construction and equipment to site clearance and consultancy fees, and the settlement value is reviewed and approved by the competent authority. A final settlement audit provides an independent opinion on whether those costs are valid, reasonable and complete, supported by documents and actual works.

The output is an audit report with a clear opinion on the settlement value, together with a list of adjustments or matters that need explanation. Think of it as a project-level equivalent of a statutory audit: the scope is narrower, but the focus on evidence is just as strict.

When is a final settlement audit needed?

• The project is complete and in use, and the investor is preparing its settlement file.
• The project uses state budget or other public capital that requires a settlement review.
• The approving authority asks for an independent audit report before it signs off the settlement.
• There is a large gap between amounts paid and the quantities actually built, which must be resolved before settlement.

For a related project-level guide, see our article on project final settlement audit: process, documents and timing.

Legal framework: general principles

Final settlement of investment capital in Vietnam sits within the rules on investment construction and public investment management, supported by implementing guidance. As a general principle, these rules require the investor to prepare a settlement report within a set period after completion, to base the settlement value on measured quantities accepted at handover, and to apply the contract prices and approved norms. Some projects also require an independent audit report as part of the file.

These rules change over time and differ by funding source. We recommend confirming the current requirements for your specific project before preparing documents. DAVA reviews the applicable requirements during intake.

How the audit works at DAVA

1. Intake and document review: You send the project file. We confirm scope, funding source and the approving authority's requirements.
2. Audit planning: We identify the material cost areas and agree a timetable with the investor.
3. Reconciliation: Contracts, acceptance records, invoices and payment records are matched against measured quantities.
4. Site inspection: Technical staff check the completed works and measure quantities where needed.
5. Clarification: We discuss unclear or disputed items with the investor and contractors.
6. Reporting: We issue the audit report with the opinion and any proposed adjustments.

Timing

Timing depends on project size, the number of contract packages, the quality of records and how quickly documents are provided. A project with complete acceptance records and clear measurements is much faster to finalise than one where records must be rebuilt. We confirm a realistic timetable once we have reviewed the file.

Documents to prepare

• Project approval, approved design and budget estimate.
• Contracts with consultants, contractors and equipment suppliers, including amendments.
• Quantity acceptance records for each stage and work item.
• Invoices, payment records, handover minutes and the cost summary.
• Site clearance and compensation records, where applicable.
• As-built drawings and the technical completion report.

Fees: indicative guide

Fees are normally linked to the value of the settlement. The table below is an indicative reference only. Actual fees depend on the file, location and number of items.

The fee schedule is indicative only. Actual fees depend on the file, location and number of assets. Please contact us for the best quote.

Approximate conversions, based on exchange rates around July 2026 (the latest we could confirm): VND 10 million is roughly AUD 540, NZD 650 or SGD 490. Rates move daily, so please ask for a current quote in your own currency. Fees depend on the file, and we are happy to provide a free consultation on your specific project.

Vietnam vs Australia, New Zealand and Singapore

The concept of a project final settlement audit does not translate neatly across these markets. The table compares the closest equivalents.

For investors reporting to an Australian, New Zealand or Singapore parent, VAS figures will not match AASB, NZ IFRS or SFRS(I) without a reconciliation. Consolidation requires that the settlement values be mapped into group accounting policies before they are consolidated into the parent company's reporting.

Australian ASIC rules require a Registered Company Auditor to audit certain company financial reports, and Singapore rules reserve audit opinions to public accountants or ACRA-approved accounting entities. Please confirm the requirements for your entity directly with the regulator.

How DAVA supports foreign companies and expats in Vietnam

DAVA works with foreign-invested companies, expatriate owners and overseas advisers on audits, valuations and documentation. Our team can work with you in English; documents can be prepared bilingually. We coordinate with lawyers and valuation firms in your home market when a file needs cross-border input.

Frequently asked questions

Is a final settlement audit mandatory?

It depends on the funding source and the approving authority. Confirm the requirement with the competent authority before preparing the file.

Can an Australian or New Zealand parent rely on a Vietnamese audit report?

The report can support group reporting, but your auditor will usually need to review the basis of preparation and map the figures to your reporting framework.

What happens if the records are incomplete?

We identify gaps early and recommend how to reconstruct the evidence, which can add time and cost.

Do you conduct site visits?

Yes. Quantities are checked on site where needed.

Can I receive the report in English?

Yes. We can issue an English summary alongside the Vietnamese report.

Conclusion

A final settlement audit of investment capital gives the investor an independent view of project costs and a file the approving authority can rely on. Complete records from the start are the biggest factor in keeping the process efficient. Contact DAVA for an assessment of your project.

Sources

• Pluang, AUD/VND rate
• Pluang, VND/NZD rate
• Pluang, SGD/VND rate
• ASIC, registered company auditor registration
• ACRA, audit regulation