- What is the difference between the bookkeeper and the auditor?
- The bookkeeper records entries and prepares the statements under the Accounting Act B.E. 2543; the CPA audits those statements, expresses an opinion and signs the auditor's report under the Accounting Profession Act B.E. 2547. They are separate roles under separate licences, so the bookkeeper cannot audit the accounts it prepared.
- If the accounting work is outsourced, who carries the liability?
- The duty to keep accounts under the Accounting Act B.E. 2543 rests on the juristic person, and the authorised director must still hand the supporting documents to the bookkeeper under §20. Outsourcing arranges for a bookkeeper; it does not transfer the statutory duty.
- Can unaudited statements be laid before the shareholders' meeting?
- No. Civil and Commercial Code §1197 requires the balance sheet to be audited before it is laid before the shareholders for adoption, and §1199 requires it to be laid before the meeting within four months of the date of that balance sheet.
- A company had no transactions at all — must it still close and submit statements?
- Yes. The duty to prepare and submit statements follows from being a registered juristic person under Accounting Act B.E. 2543 §8 and §11, not from having transactions — and the same is true of filing PND.50 under Revenue Code §68.
- Once the return and the statements are in, have the authorities accepted the figures?
- No. Filing is the taxpayer performing a duty; assessment is the assessment officer's power under the Revenue Code. Submitting the statements to the registrar puts them on the register — it is not a certification that the figures are right.
- Can a licensed tax auditor audit the statements of a private limited company?
- No. A licensed tax auditor may audit and certify only a small juristic partnership under the criteria fixed by the Director-General of the Revenue Department. A private limited company's statements must be audited by a CPA.
- Last year's return was wrong — can it be corrected in the following year?
- That is not the right route. Corporate income tax is computed period by period, so the correct step is an additional return for the period that was wrong, with the shortfall and the statutory surcharge — not a roll-forward into the next period.
- When may a credit note be issued, and when not?
- It may be issued on a ground recognised by Revenue Code §86/10, such as a price reduction or a return of goods on the stated conditions. It may not be issued merely to reduce output tax, or because the customer has not paid.
- How many years must accounting documents be kept, and where?
- Accounting Act B.E. 2543 §19 requires accounts and supporting documents to be kept for not less than five years from the closing date, at the place of business or at a place notified to the Chief Inspector of Accounts.
- The accounting documents are lost — what should be done?
- Notify the Chief Inspector of Accounts or an inspector within the period set by Accounting Act B.E. 2543 §17, then rebuild substitute evidence — counterparty copies, bank statements, returns already filed. Creating back-dated papers to look like the originals is falsification.
- A foreign parent asks for a certified set of the statements — what is the route?
- Typically: audited and adopted statements → translation by a translator the receiving party accepts → signature or copy certification by a Notarial Services Attorney → Department of Consular Affairs legalisation → destination-embassy legalisation. Before 28 February 2027 no Thai authority can issue an Apostille.
- Can a Notarial Services Attorney certify that the figures in the statements are correct?
- No. The certification covers what the attorney saw and did — a signature made before them, or a copy agreeing with the original produced. The correctness of the figures belongs to the CPA's audit report.
- Who may sign the return and submit the statements?
- Whoever binds the juristic person according to the DBD company affidavit, or an agent under a power of attorney with a clearly stated scope. Neither the bookkeeper nor the auditor binds the company by virtue of their role.
- What do the accounting and tax services cost?
- It depends on transaction volume, how many returns are due and what documents already exist. We do not publish a fixed price here — please ask our staff by phone, LINE or email for a quote based on the actual work.