Legal service for foreign clients
Annual Accounts, Statutory Audit, and Filing in Thailand in Thailand
Closing, auditor, shareholder meeting, and filings sequenced to land before the deadline.
Quick answer
Every Thai limited company needs financial statements audited by a licensed auditor each year, presented to the annual general meeting within four months of the fiscal year end, filed with the Department of Business Development within one month of that meeting, and matched by a corporate income tax return due 150 days after year end. We run the whole sequence as one timetable, contact our team for a quotation for a small entity.
Contact our team for a quotation — contact our team for a quotation for a small entity; the auditor's own fee depends on size and transaction complexity. · Timing depends on documents and the authority; no completion date is promised
Who this is for
- Companies near the filing date that have not started closing
- Businesses whose previous auditor declined re-appointment
- Entities that filed late before and were fined
- Groups that must align with the parent's reporting calendar
What you receive
- Year-end adjustments for depreciation, provisions, and accruals
- Coordination with the licensed auditor and responses to audit queries
- The annual general meeting with notices and minutes prepared
- Electronic submission of the statements and the shareholder list
- Corporate income tax return with the book-to-tax reconciliation workpaper
Documents to prepare
- Trial balance and ledgers covering the full year
- Confirmations from banks and major counterparties
- Fixed asset register with purchase evidence
- Loan and lease agreements, plus related-party documentation
How it works
4-step process
- 1
Build the timetable backwards from the deadline
We fix the meeting date first, then work backwards to the date the draft must reach the auditor, so nothing piles into the final week.
- 2
Post the year-end adjustments
Accruals, uncollectible receivables, and inventory that needs revaluation are reviewed before the draft is issued.
- 3
Audit fieldwork and the auditor's report
The auditor tests samples, obtains the management representation letter, and issues the report with an opinion.
- 4
Shareholder approval and submission
Notices go out as the articles require, the meeting approves the accounts, and the filing follows inside the one-month window.
In depth
Annual Accounts, Statutory Audit, and Filing in Thailand: what foreign clients need to know
Every Thai limited company must have its annual financial statements audited by a licensed auditor, then approved at a shareholders' meeting and filed with the Department of Business Development and the Revenue Department on time. This guide sets out the sequence from closing the books to a completed filing, the issues that most often trigger extra auditor requests, and how to schedule the work so deadlines are not missed.
The timeline to plan backwards
Statements must be approved at the annual general meeting within four months of the financial year end and filed with the DBD within one month after that meeting, while the PND 50 corporate tax return is due to the Revenue Department within 150 days of year end. Working backwards, the auditor should receive a closed trial balance by the second month after year end.
Companies with a 31 December year end compete for auditor time between March and May. Booking the auditor and sharing the document list during the last quarter reduces the risk of late filing, which attracts penalties under both accounting law and the Revenue Code.
What auditors query most often
Director loans or advances without agreements, inventory not counted at year end, long-overdue receivables without an allowance, and expenses lacking tax invoices or receipts are the main reasons audits run long. We review these items before handing the books to the auditor.
Differences between accounting profit and taxable profit need a documented reconciliation — entertainment above the cap, depreciation at different rates, or expenses disallowed under Section 65 ter. That schedule underpins the PND 50 and supports answers to later Revenue Department enquiries.
After the auditor signs
Signed statements go to the shareholders' meeting with minutes, then are filed through DBD e-Filing together with the shareholder list (Bor Or Jor 5), due within 14 days of the meeting. We prepare the notice, minutes, and XBRL file so they match.
If the audit opinion is qualified or includes a going-concern emphasis, directors should understand why before filing, because banks, the BOI, and counterparties read that opinion and it can affect credit lines or contract renewals.
Cost structure: government fees vs professional fees
| Item | Official fee | Professional fee | Note |
|---|---|---|---|
| Audit and certification | No routine filing fee | Contact our team for a quotation | Depends on revenue, volume, and book quality |
| Year-end close and draft statements | None | Quoted separately if we do not keep your monthly books | Includes tax reconciliation |
| Late filing | Penalties under accounting law and the Revenue Code | — | Avoidable by booking the auditor early |
When to act, and when waiting is fine
Monthly books are fully reconciled
The audit usually completes in two to three weeks
Books are months behind or the firm changed mid-year
Rebuild the books first, then book the auditor
FAQ
Frequently asked questions
What is the exposure for filing late?
There are accounting-law fines that hit both the company and the authorised director, plus a monthly tax surcharge on the unpaid amount. The longer it drifts the larger it grows, and a late-filing record also shrinks the credit line banks will offer.
Do we choose the auditor, or do you appoint one?
Shareholders appoint the auditor at the annual meeting. We can put forward independent licensed candidates, but the decision stays with the shareholders, and the auditor must not be the same person who keeps the monthly books.
Does a dormant company still need an audit?
Yes. Even with no transactions the statements must be prepared, audited, and filed on time. The fee is lower because there is little to test, but the obligation itself does not disappear.
Can the fiscal year be changed to match our parent?
Yes, with approval from the Revenue Department and an amendment to the articles. The transitional period may run longer or shorter than twelve months once. We prepare the application and model the tax effect first.
What does a qualified audit opinion affect?
A qualification does not block the filing, but banks, investors, and partners will ask why. The usual causes are missing confirmations or an uncounted inventory. We fix the root cause so the next year comes back clean.
How long must accounting records be kept?
The statutory floor runs five years counted from the date the accounts were closed, and it stretches further while a tax dispute or court case remains open. Digital storage is acceptable provided the original can still be produced when an officer asks.
Does a dormant company still need an audit?
Yes. The duty to prepare and file audited statements attaches to the company's legal status, not its revenue, until it is formally dissolved and liquidated.
Can a Tax Auditor (TA) replace a CPA?
A TA may audit only registered partnerships below the Revenue Department's capital, asset, and revenue thresholds. Limited companies must use a licensed CPA.
Related services
Monthly Outsourced Accounting for Foreign-Owned Thai Companies
Books closed monthly, filings on time, and an English report your head office can actually read.
Company Registration in Thailand for Foreign Shareholders
A shareholding structure that is lawful from day one — no nominee arrangements.
Administrative & Tax Court Litigation
When an official order or a tax assessment is wrong, the law still gives you a route.
Written by: Thai Law & Accounting Services — attorneys and licensed accountants
Professional review: A lawyer must review the applicable law and facts before use in a real matter. This notice does not establish that this page has been reviewed or certified by a lawyer.
Last updated: 2026-08
Information as of August 2026. Government fees and processing times change — verify with the relevant agency before acting, or let our team verify for you.