Accounting and Finance

To enhance the role of control in the Company, the Enterprise Law has provisions related to the establishment of the Supervisory Board in a joint stock company. Along with strengthening the corporate governance, the Prime Minister issued Decree No. 71/2017 / ND-CP of June 6, 2017, on Corporate Governance, which applies to public companies. Along with the development of enterprises, on January 22, 2019, the Government issued Decree 05/2019 / ND-CP stipulating the internal audit work in state agencies and public non-business units and business.

Types of internal controls and corresponding solutions in the business

Sales and delivery control

- Reasonable commitment of delivery schedule: Before committing to the delivery date or another way, the salesperson needs approval.

- Receive orders in accordance with terms and conditions: Standardised and pre-numbered order form and the signature of the authorized person when accepting the order.

Liquidity analysis

Liquidity analysis is based on information about short-term assets and short-term liabilities of the company in order to assess the short-term financial status of the company. There are two important financial indicators that businesses need to consider when analyzing a company's liquidity: current  ratio and quick ratio.