04:05 APAC
Asia Briefing from Dezan Shira & Associates
F oreign investors managing subsidiaries across multiple ASEAN jurisdictions often require greater financial oversight than local finance teams alone can provide. A Singapore-based Virtual CFO can serve as a centralised finance leader coordinating regional financial management without the cost of establishing a full regional finance department. As ASEAN operations expand, this model helps maintain visibility across subsidiaries while supporting more consistent decision- making. As operations scale across borders, financial visibility often becomes harder to maintain. While single- country structures typically allow performance to be assessed through unified reporting, multi-jurisdiction footprints introduce fragmented systems across subsidiaries. Differences in accounting
frameworks, tax calendars, payroll systems, audit requirements and banking relationships can make it difficult to compare performance consistently across the region, even where individual entities operate effectively. Over time, these variations reduce the ability to identify regional trends or allocate resources at group level. In response, many organisations are introducing regional financial governance frameworks across ASEAN subsidiaries. These commonly include standardised approval hierarchies, budget ownership structures, spending authorities and financial control procedures designed to support consistent oversight while preserving local autonomy. Reporting consistency is central to this approach. Standardised reporting calendars, management
accounts, monthly reporting packs and regional dashboards
are increasingly used to improve comparability and reduce reconciliation across jurisdictions. Dezan Shira’s ASEAN Briefing provides further analysis of regional financial governance models supporting cross-border oversight. Vietnam As one of Southeast Asia’s fastest-growing economies, Vietnam continues to attract foreign investors and multinational companies seeking regional opportunities. While the business environment has modernised significantly since the Doi Moi reforms, cultural understanding remains important for effective engagement. Business relationships in Vietnam are often built on trust and personal connection, with commercial discussions typically following initial relationship-building.
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GLOBAL PAYROLL MAGAZINE ISSUE 25
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