Forensic Accounting Crucial in Fighting Financial Crimes in Vietnam

Vietnam’s rapid economic growth has brought numerous opportunities for businesses to thrive. However, this expansion has also led to a surge in financial crimes, threatening the integrity and reputation of organisations.

The Growing Concern of Financial Crimes in Vietnam

In recent years, fraud, corruption, and other forms of misconduct have become increasingly common in Vietnam, posing significant risks to businesses and individuals alike. With the government’s efforts to enhance regulatory oversight and enforcement, it is essential for organisations to proactively manage their risks and prevent financial crimes.

KPMG’s Expertise in Forensic Accounting

KPMG, a leading professional services firm, has extensive experience in providing forensic accounting services to help organisations in Vietnam combat financial crimes. Our experts specialise in:

• Assessing, designing, and implementing internal controls and compliance programs to mitigate vulnerabilities to fraud and misconduct.
• Conducting risk assessments and creating training programs to educate employees on anti-fraud measures.

Forensic Accounting Services for Financial Crimes

KPMG’s forensic accounting services for financial crimes in Vietnam include:

• Designing and implementing anti-fraud compliance programs.
• Conducting data analysis tests to detect anomalies and patterns indicative of fraud.
• Providing assistance with investigations, including understanding investigation objectives, conducting detailed inquiries and examinations, and identifying appropriate remedial actions.

Data Analytics Capabilities

KPMG’s data analytics capabilities enable us to link and analyze multiple data streams to detect:

• Anomalies
• Patterns
• Trends
• Potential red flags indicative of fraud or misconduct

This expertise is particularly valuable in responding to data needs in disputes, investigations, and regulatory and internal reviews.

Anti-Bribery and Corruption Concerns

KPMG’s experts assist organisations in developing and enhancing their financial crime management programs, including:

• Anti-money laundering and sanctions programs.
• Compliance with anti-bribery laws and regulations.

Third-Party Risk Management

For businesses seeking a comprehensive approach to third-party risk management, our experts advise on the suitable framework, operating model, methodology, and tools for an effective program.

Conclusion

Forensic accounting plays a vital role in combating financial crimes in Vietnam. KPMG’s expertise and experience can help organisations prevent, detect, and respond to these crimes, ensuring their integrity, reputation, and credibility are protected.