CPA Statutory Audit
ตรวจสอบบัญชีโดย CPA · § Audit
Quick Answer
Annual audit by a TFAC-licensed CPA — planning, substantive testing, bank/AR confirmations, Auditor's Report + financials + SorBorChor.3/3/1 filed with DBD — from THB 15,000 (dormant) to THB 150,000+ (operating SME).
Timeline: Document gathering 30d · fieldwork 15–30d · draft financials + management letter 15d · file with DBD within 5 months of fiscal year-end.
Official fee: DBD filing fee THB 200 (e-Filing) or THB 400 (paper). Late filing THB 2,000 + THB 200/month, on both company and directors.
Legal Basis
Accounting Act B.E. 2543 §11, §21 + Accounting Profession Act B.E. 2547 — every Thai Limited Company (any size) must be audited by a licensed CPA. Registered partnerships with capital > THB 5M included. Audit under Thai Standards on Auditing (TSA) 200–800 series.
Who Needs This
All Thai Limited Companies (trading or dormant) · registered partnerships with capital > THB 5M · BOI companies (annual audit + specific auditor opinion) · public companies (PAEs mandatory).
Required Documents
- Trial Balance + General Ledger for 12 months
- Tax reports PP.30 / PND.1/3/53 for all 12 months
- Bank statements + bank confirmations
- Inventory listing + physical count sheets
- Material contracts (loan, lease, related party)
Common Pitfalls
- No physical inventory count on 31 Dec → CPA issues Qualified Opinion
- Under-disclosed related-party transactions → RD reinterprets as Transfer Pricing
- Dormant company skipping 3 consecutive annual filings → DBD strikes off
- Rotating CPA every year → raises RD suspicion
Typical Use-cases
- Newly-incorporated limited company finishing first year
- Dormant shell company keeping registration active
- BOI company submitting the required annual auditor's opinion
- Company preparing for M&A / due diligence
FAQ
- Do dormant companies really need an audit?
- Yes. Thai law does not exempt dormant companies like the UK. A CPA must issue an opinion every year even for 'nil transactions'. Dormant package from THB 15,000 (includes DBD filing).
- Can the CPA cover offices in the provinces?
- Yes — a CPA with a 4–7-digit TAP licence practises nationwide. We dispatch auditor + assistant to your factory/office for fieldwork.
- How is the audit fee calculated?
- Guided by TFAC benchmarks: THB 15K (dormant); THB 30–60K (SME < THB 30M sales); THB 80–150K (THB 30–200M); THB 200K+ (> THB 200M). Fixed-fee guarantee.
- How soon must financials be delivered to shareholders?
- AGM must be held within 4 months of year-end. Financials must be circulated to shareholders at least 7 days before AGM. File with DBD within 1 month after AGM (5 months total).
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The information on this page follows the official sources below. Always check the latest version before you file.
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- สำนักงานประกันสังคม— Social Security Office
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Frequently asked questions
- Can a foreigner own 100% of a Thai company?
- Generally no for activities listed in the Foreign Business Act, where majority foreign ownership requires a Foreign Business Licence, a BOI promotion, or treaty rights such as the US–Thailand Treaty of Amity. Manufacturing and certain export activities are largely open, and BOI-promoted activities can permit full foreign ownership together with land-holding and visa privileges, so the right structure depends on the specific activity.
- What is the minimum registered capital for a Thai company?
- There is no general statutory minimum for a Thai-majority company, but practical thresholds apply: THB 2 million of paid-up registered capital per foreign work permit, or THB 1 million if the foreigner is married to a Thai national, and THB 3 million per foreign shareholder for a Foreign Business Licence. Capital should therefore be planned around the visa and work-permit outcome you need, not the incorporation minimum.
- How long does company registration take?
- Registration at the Department of Business Development can be completed within one to three working days once the name reservation, shareholder documents and company objectives are ready, and the VAT registration and social security registration follow afterwards. The realistic end-to-end timeline including bank account opening is two to six weeks, with the bank account usually being the slowest step for foreign directors.
- What ongoing accounting obligations does a Thai company have?
- Every Thai company must keep statutory accounts, file monthly withholding tax (PND 1, 3, 53) and VAT (PP 30) returns by the middle of the following month, file the half-year corporate income tax return (PND 51) and the annual return (PND 50), and have its financial statements audited by a Thai CPA and filed with the DBD each year. Dormant companies are not exempt — nil returns and an audited statement are still required.