Annual Audit in Bangkok, Thailand
Any business entity registered in Thailand has legal obligation to maintain its books of account and file an annual summary of the financial performance at end of every 12months time period, as an audit report to concern government department. Failure to do so is a criminal offense. The annual audit report must be filed within 150 days after the close of the accounting period.
At P&P International Legal, our audit service includes:
- General accounting (Journal entries, General Ledger, Profit and loss account, Trial Balance and year-end Balance Sheet)
- Making audit report and financial statements and submitting to all concern department i.e. Revenue department and Department of Business Development.
- Filing corporate tax report (PND50) to revenue department and Department of Business development.
Pre-Audit documentation requirements:
- Monthly Income and expense submission reports
- Company seal
- Bank account statement of all corporate bank accounts
- Lease Agreement
- Title deeds (incase the company had purchased immovable property)
- Inventory or Stock (if any)
- Previous annual audit report documents
- Half Year report documents if any.
Post Audit processing:
Once audit report is completed there are several legal mandatory formalities that the company must comply with.
- We will send the completed audit report to your company for director’s review, feedback and signing.
- we will inform you regarding your corporate tax responsibility if any, once payment is confirmed by you, we will settle your tax obligation with revenue department.
- Once audit report has been duly signed by authorized director of the company, we will be assisting you with
- Advertising in local newspaper informing about shareholders’ meeting
- Sending formal invitation to all shareholders for shareholders’ meeting
- Draft minutes of meeting
- Finish all the formalities including having audit report signed by Licensed auditor.
We ensure that this process is fully transparent and that it takes care of all the audit requirements of your firm.
There are many steps involved in annual audit, so it is better to choose us for preparing reports. The entire process is time-consuming and tiresome and evident in description above. Thus, the process takes time and good preparation, so don’t wait, and call us right away.