IFRS
Key differences between VAS and IFRS businesses should know
Published: Jun 20, 2026·IFRS Auditing
A comparison of the core differences between Vietnamese Accounting Standards (VAS) and IFRS.
## How do VAS and IFRS differ?
VAS was built on older IFRS versions but differs significantly in recognition, measurement and presentation principles.
## Some key differences
- **Fair value:** IFRS widely uses fair value; VAS favors historical cost.
- **Impairment:** IFRS requires periodic assessment; VAS is limited.
- **Presentation:** IFRS requires more detailed disclosures.
Understanding these differences helps enterprises prepare for conversion.