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Construction Audit

Is construction investment management your concern?

Together with the integration, globalization, and development of Vietnam's economy, the size and quantity of both foreign and domestic companies’ constructional projects become greater and greater. To ensure the efficiency of the capital investment, as well as quality management of the construction, works in Vietnam, the Vietnamese government has issued various legislation such as Law, Decrees, and Circulars to regulate the construction investment activities. At the same time, in the regulation process, the Government also has changes, amendments, and updates to suit the regulation practices and to ensure the management purpose.

The major risks that investors might encounter are as follows:

The non-compliance of investment procedure with regulations, the increase in expense estimation, schedule overrun, dissatisfied construction quality
Unclear, non-compliant bidding process; incompetent contractor; overlapped scope of bid package; incorrect bidding package price
Incomplete design documents, incorrect quantity calculation; multiple adjustments and amendment of design, estimations
Unclear, undetailed contract terms; non-compliant contract adjustment sequence; error in payment procedure; extended contract schedule; incorrect value of the final settlement
Incomplete, incorrect quality management documents; mistakes in material management and distribution

Why RSM is the right choice for enterprises and businesses?

RSM’s experience in Vietnam

With more than 20 years of experience in Vietnam, we have established a specialized construction audit service which is the combination of financial audit and construction consultancy to meet the specific needs of domestic and foreign private-owned businesses including:
Review the whole process of project execution (by project documents audit, site investigation) to claim for the loss & damages incurred by relevant parties
Prepare detailed audit report with proper reasoning, arguments, and accurate evidence/data to protect the rights and benefits of Investor
Identify significant problems (schedule, cost, quality, procedures) in project execution and make recommendations as lessons learned for Investor’s future projects

The values that RSM bring to you

RSM’s construction audit services will help investors save time and investment costs as well as provide the lessons learned about project management for the next projects. Besides, through our construction services, we will discuss with and consult investors about accounting and tax matters which relate to the project and your business activities; update investors on the changes in regulatory change via email, conferences, and in-depth analysis reports.

RSM’s services

Compliance audit: independently check and evaluate the compliance of the process of construction investment based on legal regulations and policies

Audit of value settlement identification: Check, determine the relevance of value settlement in contract/work/project to the State’s regulations and contract terms

Audit of basic construction finalization: Ensure that the final settlement report genuinely and reasonably reflects the settlement of the bidding package, in compliance with investment regulations and accounting standards of Vietnam as well as legal regulations related to reporting and presenting the final settlement

RSM’s clients

With a team of insightful and experienced professionals, in the last 20 years, RSM Vietnam has been providing construction audit services for state-owned enterprises and groups; foreign and domestics companies ranging from small to large size. Some of our typical clients are:

Vietnam Electricity: thermal power plants, hydroelectric power plants, 500kV, 220kV power transmission lines;

Ministry of Transport: Infrastructure facilities for traffic and transportation, civil construction

Other projects of international and local private-owned companies: Hyatt regency Da nang Residences, Pandanus resort Mui Ne, The InterContinental Hanoi Westlake Hotel, Cu Jut Solar power plant, An Khanh thermal power plant