• Pro Legal Services TH

Stop Dreading Your Annual Company Audit

Updated: Jun 4

We don’t blame anyone who’d rather contract the coronavirus than complete an annual company audit.

The process is complex, with a lot of steps and documents needed. Nevertheless, all registered legal entities in Thailand are required to file an audit, whether limited companies, foreign companies, or partnerships.

Filing an audit is essential so that a company can renew work permits and visas.

Typically, companies must file the annual audit report 150 days after the close of the accounting period. Failing to submit a yearly audit, maintain accurate financial documents, or alter financial records is punishable by a 200,000 THB fine.

Unless a company has an in-house CPA, the process is troublesome. Companies should choose a service provider with years of experience preparing company audits, who can easily explain the steps, and are completely transparent with the cost.

Pro Legal Service has a team of trusted CPAs with decades of annual auditing experience that are waiting to help!

Our Auditing Services Include:

  • Authentication of signature and other ID such as passports

  • Authentication and certification of the execution of documents intended for international use

  • Witnessing contracts and other related documents

  • Certification of translations

  • Verification of documents

  • Authentication of title deeds

  • Power of attorney

  • Legalisation of documents

  • Notarial certifications

Pro Legal Service will help you Gather the Essential Documents:

  • Income and expenses for the year (the government receipts plus the form PND 1, 3, 53; PP 30, 36; Por Tor 40, and Social Fund for Jan – Dec)

  • Bank statement for every corporate bank account (current, saving account)

  • Inventory (if any)

  • Stock Cards Lease agreement

  • A copy of any title deeds the company might have acquired when purchasing land

  • Annual Audit for the previous year (Financial Statement, Auditor Report, PND 50 including General Ledger, Trial Balance and Assets Register)

  • Company seal

  • Half Year Report (PND 51)

Pro Legal services will send a copy of the audit to review and sign. We will then advise you of any tax that is due and help you settle that with the Revenue Department. After the auditor has signed the Audit Report, the company must:

  1. Advertise in a local newspaper announcing to the public that there will be a meeting of shareholders

  2. Send a formal invitation to all shareholders (within seven days)

  3. Create minutes of the meeting

  4. Finish all formal requirements within 30 days of having the audit report signed by an auditor.

Pro Legal Services will make your annual audit go as smoothly as possible! Call us to chat about your company’s finances.

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