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ANNUAL AUDIT SERVICES

Companies doing business in Thailand are required to have a statutory annual audit each year. A certified Thailand auditor is required to perform the audit and issue a signed financial statement which includes a balance sheet and income statement. This audited financial statement must be submitted to the Revenue Department and Ministry of Commerce (MOC) on an annual basis. Failing to do so is a criminal offence and any wrongdoing in this regard may result in a penalty amounting up to 200,000THB. 

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Our annual audit service includes the following:

  • Review financial information 

  • Prepare audit report

  • Certify financial statement

  • Submission of financial statements to the Revenue Department and MOC.

PRE-AUDIT REQUIREMENT

Before the auditing process can start, the company to be audited must submit these documents:

  • Income and expenses for the year (the government receipts and the form PND 1, 3, 53; PP 30; Por Tor 40, and Social Fund for Jan-Dec of the respective year)

  • Bank statement for every corporate bank account (including both savings account and current account)

  • Inventory

  • Stock cards

  • Lease agreement

  • Copy of any title deeds the company might have acquired when purchasing land

  • Annual audit for the previous year (Financial Statement, Auditor Report, PND 50, including General Ledger, Trial Balance, and Assets Register)

  • Company seal

  • Half Year Report (PND 51)

POST-AUDIT REQUIREMENT

There are several requirements that need to be fulfilled after the audit report has been signed. The post-signing processes are also covered by our auditing package:

  • After the audit has been completed, we will send a copy to be reviewed and signed by the company's director

  • We will inform you of any outstanding taxes to be paid, and once we receive a cheque or cash payment from your company, we will settle your dues with the Revenue Department

  • After the auditor has signed the Audit Report, the company must 

    • Advertise in a local newspaper announcing to the public that there will be a meeting of shareholders​

    • Send a formal invitation to all shareholders

    • Create minute of meeting

    • Finish all formal requirements within 30 days of having the audit report signed by an auditor

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