Statutory Audit and Financial Closing Service in Thailand
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SCALE offer a comprehensive Statutory Audit and Financial Closing Service tailored to meet Thai regulatory requirements while delivering the financial clarity your business needs. Whether you’re a BOI-promoted company, a foreign-invested enterprise, or a Thai SME, our experienced CPAs and auditors provide professional support to complete your year-end statutory obligations with precision and transparency.
How do we process year-end audit and financial statement report in Thailand?
01
Onboarding email for previous account
We would send you the onboarding email with the list of the required document for the balance of previous account.
02
Understanding business and financial resources
We might ask for the meeting to understand more about culture and financial resources.
03
Schedule the process until it is completed
We estimate the time scope for year end audit and financial statement report services and update you the schedule.
04
Update the progression of the process
We keep you informed of all the work progress, ensuring you know the current status work.
05
Propose the final job to company directors
Before auditing process, we would provide you with the final draft of the annual financial statement for approval.
06
Auditing the financial statement
With the trial balance, all the journal, general ledger. and randomly transaction check by requirement
07
Propose the financial statement to shareholders
The director is required to present the financial statement at the ordinary meeting for approval by resolution.
08
Filing financial statement to government
The company financial statement would be filed to the revenue department and the development business department.
Auditing report is attached with
Annual Financial Statement.
An year end audit and financial statement report is a comprehensive report that provides an overview of a company’s financial performance over a fiscal year. It typically includes the balance sheet, and income statement reflecting the company’s financial health and operations.
Fiscal Year-End and Financial Statement Filing Deadlines
All entities registered as juristic persons in Thailand are required to prepare and submit annual financial statements in accordance with the fiscal year defined at the time of company registration. A fiscal year typically spans 12 consecutive months, and the year-end date may vary depending on the company’s preference — common closing dates include 31 December, 31 March, 30 June, or 30 September.
| Fiscal Year-End | AGM Deadline (Within 4 Months) |
DBD Filing Deadline (Within 1 Month After AGM) |
Corporate Tax Filing (PND.50) (Within 150 Days) |
|---|---|---|---|
| 31 December | By 30 April | By 31 May | By 30 May |
| 31 March | By 31 July | By 31 August | By 29 August |
| 30 June | By 31 October | By 30 November | By 27 November |
| 30 September | By 31 January | By 28 February | By 28 February |
Our Year End Audit And Financial Statement Report Fee
Our auditing fee is based on the total annual turnover. The auditing fee is set by the chosen auditing firm. By law, accounting and auditing services must be separate, and the company can independently select the preferred auditor.
Annual turnover
1M - 5M THB
14,900 THB
Annual turnover
6M - 10M THB
21,900 THB
Annual turnover
11M - 20M THB
32,800 THB
Annual turnover
21M - 30M THB
45,400 THB
Note: The auditing fees above are just an estimated price and will be changed based on the complexity of the business.
What is the requirement of the company for year end audit and financial statement report implement by applicable regulations?
Minutes of meeting report*
The company is required to hold an ordinary meeting at least once a year as stated in its articles of association.
Filing financial statement to DBD
The company is legally required to submit its shareholder list and financial statement to the DBD.
Annual Financial Report
The financial statement includes the accounting policy (TFRS for NPAEs) that applies to the company.
Filing the annual CIT to RD
The PND50 – corporate income tax is the conclusion of half year CIT PND51 and Withhelding tax (sale/interest)
Auditing report for financial year
The auditing report is official document that auditor evaluate the company’s financial health
Register in the e-accountant
Our accountant who will register as an accountant (CPD license) of the company in the DBD system
Frequently Asked Questions | FAQs
At ACCOUNTINFIRM CO., LTD, we understand that businesses in Thailand have various questions about their year end audit and financial statement report obligations. Below, we provide clear answers to some of the most frequently asked questions to help you stay compliant and avoid penalties.
Is an annual year end audit and financial statement report mandatory for companies in Thailand?
Yes, all registered businesses, including private and public limited companies, joint ventures, and branches of foreign entities, must undergo an year end audit and financial statement report. This applies regardless of whether the company was active or dormant during the year. The audit must be conducted by a licensed auditor in Thailand.
When is the deadline for submitting audited financial statements?
Companies must submit their year end audit and financial statement report within 150 days after the end of the fiscal year. If your fiscal year follows the standard calendar year (ending December 31), the deadline for submission will be May 31 of the following year.
Who is authorized to conduct an audit in Thailand?
The audit must be conducted by an independent licensed auditor registered with the Thai Federation of Accounting Professions (TFAC). Choosing a professional and experienced auditor ensures compliance with Thailand’s accounting standards.
Are there penalties for underreporting financial data?
Yes. If a company understates its taxable income by more than 25%, it may face a 20% surcharge on the understated amount. In more severe cases, penalties can reach up to 200% of unpaid tax liabilities, along with additional fines.
In what language should financial statements be prepared?
All year end audit and financial statement report must be prepared in Thai. If original documents are in another language, certified Thai translations must be provided.
How does the Annual General Meeting (AGM) relate to the audit process?
Companies must hold an Annual General Meeting (AGM) within four months after the fiscal year-end. During this meeting, shareholders review and approve the year end audit and financial statement report before submitting them to the Department of Business Development (DBD).
What happens if I fail to submit my year end audit and financial statement report on time?
Failure to file audited financial statements within the required timeframe can lead to:
- Fines up to THB 200,000
- Possible legal actions and penalties under Thai corporate law
- Increased scrutiny from regulatory authorities, potentially leading to further investigations
What documents are required for the year end audit and financial statement report process?
To ensure a smooth year end audit and financial statement report process, businesses should prepare the following documents:
✔ Income and expense records for the year
✔ Bank statements for all company accounts
✔ Inventory reports and stock movement details
✔ Lease agreements and utility bills
✔ Copies of land title deeds (if applicable)
✔ Financial statements from the previous year
✔ Tax filings, including VAT and withholding tax records
✔ The company’s official seal and corporate documents
Our Compliance Advisory Services
We work closely with your management team to ensure your business is audit-ready and up to date with all local compliance requirements.
At ACCOUNTINFIRM CO., LTD., we provide industry-specific
year end audit and financial statement report
tailored to various industries in Thailand. Our goal is to help businesses maintain financial efficiency, stay compliant with regulations, and achieve sustainable growth.
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Get Ready for Year-End with Confidence
Don’t wait until the last minute. Our professional year-end audit services in Thailand ensure your business stays compliant and audit-ready every year.
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