Common problems
- Assets formed through investment are not fully and correctly recognised before handover to the operator.
- It is unclear on what basis the operator receives the assets, or how they are recorded.
- The subsidy mechanism has no settled formula and is renegotiated every year.
- The project management unit still has settlement work outstanding while its staff have already moved to operations.
Legal basis
The wording below is our reading of each provision, not an official translation. Only the Vietnamese text is authoritative — you can open every document in the Document lookup section.
Law on Railways — Article 5.2(c)The State subsidises public passenger transport by urban railway.
Law on Independent Audit — Article 40.2(b)An audit firm may register to provide advisory services on management, conversion and corporate restructuring.
Decree 193/2026/ND-CPThe value of assets formed through investment and their handover — this must be closed before transfer to the operating entity.
What we do
- Review assets and liabilities before transferWhether asset documentation is complete, how much contractor debt remains outstanding, and who carries it onward.
- Design the operating entityFunctions, structure, headcount, and the settlement work the project management unit retains.
- Build the operating financial mechanismSubsidy formula, adjustment mechanism, and indicators for assessing operating performance.
- Set a milestone-based transfer roadmapWhat must be finished before commercial operation begins, and what may follow after.
What you receive
- A review report on assets and liabilities before transfer
- A structural plan for the operating entity
- A proposed financial mechanism and subsidy formula
- A transfer roadmap against dates
When to call us
Twelve to eighteen months before the planned start of commercial operation; or when the province is preparing to establish or reorganise its urban railway operator.
Two conditions, stated before anything else. First, this is a service under Clause 2, Article 40 of the Law on Independent Audit — an audit firm must register it with the Ministry of Finance before providing it. Second, if we audit your organisation, or expect to, this engagement must pass an independence check under Article 30 of the same law before signing. We run that check first, and if it fails we say so plainly and decline.
Next step
Describe your situation on the Request advice page, or call 0825092007. We read it, classify it and reply within 24 working hours — including when the answer is that the work falls outside what we are permitted to do.
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