Under Thai law any registered legal entity (irrespective of whether it is a limited company, a foreign company operating in Thailand or a registered partnership) is obliged to prepare and keep its accounts and file an annual audit.
All legal entities registered in Thailand have a legal obligation to prepare and keep accounts (this includes limited companies, registered partnerships and even foreign juristic persons conducting business in Thailand). Failing to do so is a criminal offence and any wrongdoing in this regard may result in a penalty amounting up to 200,000 THB. There are many steps involved both before and after an audit report has been prepared and it is important that you as a company choose a service provider that is wholly transparent with their pricing of the entire process, not just the minor task of having an audit report crafted and signed.
Before the auditing process can start, the company to be audited must submit these documents, but if you are an Acclime client we will gather the documents for you:
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:
If you have any taxes to pay we will inform you of this and once we receive a cheque or cash payment from your company, we will settle your dues with the Revenue Department
Pornpun (Som), Acclime accounting coordinator