Annual Audit by Certified Public Accountant
ตรวจสอบบัญชีโดยผู้สอบบัญชีรับอนุญาต (CPA) · § Audit
Quick Answer
An independent certified public accountant plans the audit, samples transactions, confirms bank balances and issues the auditor's report; we then help you hold the approval meeting and file via DBD e-Filing. Fees depend on company size.
Timeline: Year-end close starts after the fiscal year ends · fieldwork takes several weeks depending on size and document readiness · AGM within four months · filing within one month after the meeting.
Official fee: Online filing carries no fee, but late filing is fined under the Accounting Act and Civil and Commercial Code. Check current amounts with the Department of Business Development.
Legal Basis
The Civil and Commercial Code and the Accounting Act require limited companies to have financial statements audited by a certified public accountant, approved at a shareholders' meeting within four months of year-end, and filed with the Department of Business Development within one month of approval.
Who Needs This
Every limited company, including dormant ones, foreign subsidiaries reporting to a parent, and companies needing audited statements for loans or employee work-permit applications.
Required Documents
- General ledger and full-year trial balance
- Bank statements and bank confirmation letters
- Year-end schedules of receivables, payables and inventory
- Key contracts and board minutes
- Tax returns filed during the year for reconciliation
Common Pitfalls
- Starting year-end close late, when auditors are fully booked
- Director loans with no agreement or evidence
- No physical inventory count at year-end
- Assuming a dormant company need not file — it still must
Typical Use-cases
- A dormant company that still must file every year
- A foreign subsidiary sending English statements to headquarters
- A company needing audited statements to support foreign work permits
FAQ
- Can the bookkeeper also be the auditor?
- They should not be. An auditor must be independent of the work they audit, so our bookkeeping team and the certified auditor are kept separate.
- What if statements are filed late?
- Both the company and its directors can be fined, and it may affect loans or other official applications. Plan the close at least two months ahead.
- Can we change auditors?
- Yes — shareholders appoint the new auditor and prior-year information is handed over in full.
- Do we get English statements?
- An English version can be prepared alongside; the version filed with the authorities is in Thai.
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Official sources — accounting, tax, social security
The information on this page follows the official sources below. Always check the latest version before you file.
- Revenue Department — Revenue Code, income tax, VAT— Revenue Department
- Social Security Office— Social Security Office
- Department of Business Development — company registration— Department of Business Development
- Office of the Council of State — Thai law database— Office of the Council of State
- Board of Investment (BOI) / LTR Visa— Thailand Board of Investment
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Frequently asked questions
- Can a foreigner own 100% of a Thai company?
- Full foreign ownership is possible for some activities, but there is no blanket permission. Check the Foreign Business Act definition, actual activities, sector-specific restrictions and any required licence or certificate. BOI promotion and treaty rights apply only within their approved scope; they do not automatically confer land rights, visas or work permits. Do not use nominee shareholders. Verify the proposed structure with DBD.
- What is the minimum registered capital for a Thai company?
- Do not apply one capital figure to every incorporation, foreign-business licence, visa or work-permit application. Registered capital and paid-up capital are different, and the applicable requirements depend on actual activities, ownership, permit category and any BOI or treaty conditions. Capital is a company funding requirement, not our service fee. Confirm the relevant criteria with DBD, the Department of Employment and Immigration before choosing the structure. Ask our team for a quotation for the agreed work.
- How long does company registration take?
- Separate document preparation, name reservation, signatures and DBD review from VAT registration, Social Security and bank onboarding. Timing depends on the filing channel, complete documents and any requests for corrections or additional evidence; no completion date is guaranteed. Ask our team for a quotation and a planning estimate after the proposed structure and documents have been reviewed.
- What ongoing accounting obligations does a Thai company have?
- A Thai limited company keeps statutory books and prepares audited annual statements even without trading. Tax returns depend on its payments, VAT status, accounting period and taxpayer category: PND1, PND3 and PND53 are not universal monthly returns for every company, and PP30 applies to VAT-registered businesses, including nil-return months while registration remains active. Check PND50, PND51 and each filing deadline with RD; check annual statements and shareholder filings separately with DBD.
