Audited financial statements in Thailand
Every company registered in Thailand has to prepare annual financial statements, have them audited by a licensed CPA, and file them, even with no revenue or no activity at all. We prepare the accounts, run the audit, and file with the DBD and the Revenue Department on time.
The annual audit every Thai company owes
Under the Accounting Act, every company registered in Thailand must keep accounts, prepare financial statements for each year, and have those statements audited by a licensed auditor. The obligation does not depend on turnover, profit, or whether the company traded at all. Thailand has no dormant status: a company that did nothing all year still files a full audited set.
The audited statements then go to two places, the Department of Business Development at the Ministry of Commerce, and the Revenue Department alongside the annual corporate income tax return. Both have hard deadlines, and missing them fines the company and its directors personally.
Which entities need an audit
Nearly every registered entity, with one narrow exception.
| Entity | Annual audit required |
|---|---|
| Limited company (Co., Ltd.) | Yes, always, even if dormant |
| Public limited company | Yes; listed companies also file reviewed quarterly statements |
| Branch of a foreign company | Yes |
| Representative office | Yes |
| Regional office | Yes |
| Joint venture | Yes |
| Registered ordinary partnership | Only above the size thresholds; smaller ones still prepare statements but are exempt from the audit |
The exemption is narrow and applies only to small registered partnerships. If you run a limited company, a branch, or a representative office, the audit is not optional. Talk to our team about your year-end.
How the audit works
The statements are prepared under Thai Financial Reporting Standards. Most foreign-owned companies use TFRS for NPAEs, the version for non-publicly-accountable entities, while listed companies use the full standards. They are then audited by a Certified Public Accountant registered with the Federation of Accounting Professions, who must be independent of the company.
The audited set covers the balance sheet, the profit and loss account, the notes, and the auditor’s opinion, filed together with the list of shareholders and the minutes of the meeting that approved them. For the DBD, the statements are submitted through e-Filing in XBRL format, mapped to the DBD taxonomy, which is the step where filings most often go wrong.
The order is fixed: close the accounts, complete the audit, approve the statements at the annual general meeting, then file. The audit has to be finished before the meeting, and auditors are heavily booked between January and April, so an early start is what keeps the deadlines comfortable rather than tight.
The annual filing timeline
For a 31 December financial year-end.
| Step | Deadline |
|---|---|
| Hold the annual general meeting to approve the statements | Within 4 months of year-end (by 30 April) |
| File the shareholder list (Bor. Chor. 5) with the DBD | Within 14 days of the meeting |
| File PND 50 and the audited statements with the Revenue Department | Within 150 days of year-end (about end of May) |
| File the audited statements with the DBD (e-Filing, XBRL) | Within 1 month of the meeting (about end of May) |
One year-end, four filings, two government bodies, and a booked-out audit season. Hand the whole cycle to our Bangkok team and it gets done on schedule.
Your audit and filing, handled by Emerhub
From the closing entries to the final submission.
Accounts to TFRS
We close your books and prepare the financial statements under TFRS for NPAEs, ready for the auditor.
The CPA audit
We engage an independent CPA registered with the TFAC and manage the audit through to a signed opinion.
AGM and corporate filings
The annual meeting to approve the statements, the minutes, and the Bor. Chor. 5 shareholder list with the DBD.
DBD and Revenue filing
The XBRL conversion and e-Filing to the DBD, plus the PND 50 and statements to the Revenue Department, on time.
Audit and filing questions
What company owners in Thailand ask most.
Does a dormant company need an audit?
Yes. Thailand has no dormant status, so a company with no revenue or activity still prepares audited financial statements and files them with both the DBD and the Revenue Department. The audit is simpler and cheaper for an inactive company, but it is not optional.
Who can audit a Thai company’s statements?
An independent Certified Public Accountant registered with the Federation of Accounting Professions, with no conflict of interest with the company. Small registered partnerships within the exemption can use a licensed tax auditor instead of a CPA.
When are the audited statements due?
The annual meeting to approve them must be held within 4 months of the year-end, the statements and the PND 50 filed with the Revenue Department within 150 days, and the statements filed with the DBD within a month of the meeting. For a 31 December year-end, that lands at the end of May.
Is a statutory audit the same as a tax audit?
No. The statutory audit is the annual CPA audit of your financial statements that every company must have. A tax audit is a separate investigation by the Revenue Department into your tax filings, which only some companies face. This page is about the statutory audit.
Do foreign branches and representative offices need an audit?
Yes. Branches of foreign companies, representative offices, regional offices, and joint ventures all prepare and file audited statements within 150 days of the year-end, the same as a Thai limited company.
What accounting standards apply?
Thai Financial Reporting Standards. Most foreign-owned companies report under TFRS for NPAEs, the set for non-publicly-accountable entities, while public and listed companies use the full standards.
What are the penalties for filing late?
Fines from THB 1,000 to 200,000 depending on the breach, falling on both the company and the directors personally. Not filing the audited statements can reach THB 100,000 for the company and the same for each director, on top of any tax penalties from the Revenue Department.
Do small partnerships have to be audited?
A registered ordinary partnership below the capital, asset, and income thresholds set by Ministerial Regulation is exempt from the audit, though it still prepares financial statements. Every limited company is audited regardless of size.
Talk to our Bangkok team
Tell us your financial year-end and where your books stand. Our Bangkok team will prepare the statements, run the CPA audit, and file with the DBD and the Revenue Department before the deadline.
591 Sukhumvit 33, Watthana
Bangkok 10110