Audit and Assurance Services

As a reputable mid-tier audit firm in Thailand, Moore GSiA provides professional audit services that adhere to the highest international standards while offering competitive rates. We are committed to delivering precise, reliable financial oversight and offering insightful recommendations to help your business thrive.

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 Why Moore GSiA 

Moore GSiA is a leading audit firm in Thailand that combines local regulatory expertise with a powerful global network. We offer professional, specialized support for businesses seeking an authoritative audit company in Bangkok.

• Global Access, Local Solutions: We offer a worldwide network of resources combined with deep local knowledge of Thai corporate law to support your operations, wherever you are.
• Deep Industry Expertise: Our audit specialists bring sector-specific knowledge and forward-thinking insights across diverse fields, including manufacturing, finance, real estate, and technology.
• Customized Client Approach: We prioritize strong relationships and provide tailored, proactive, and effective audit advice designed specifically to meet your unique operational risks and business needs.
• Targeted Tax Strategy: Benefit from our specialized understanding across various industries to ensure your audit integrates smoothly with the most optimized and strategic corporate tax planning.

What Is an Audit Service?

An audit service is the independent and systematic examination of an organization’s financial statements, accounting records, and internal controls by a certified professional. The primary objective is to form an objective opinion on whether the financial reports accurately reflect the company’s true financial position and comply with relevant accounting frameworks, such as TFRS or IFRS. Beyond fulfilling legal mandates, a thorough audit provides operational transparency, uncovers inefficiencies, and identifies areas where internal financial controls can be strengthened.

Why Is Auditing Important?

Auditing is critical because it establishes trust and confidence among key stakeholders, including investors, creditors, and government authorities, by independently validating the accuracy of a company’s financial data. It acts as a vital safeguard against material misstatements, fraud, and financial mismanagement. Furthermore, regular audits provide executive management with actionable insights into their financial health, enabling smarter strategic decision-making and ensuring strict, penalty-free compliance with local corporate and tax laws.

Audit Firm in Thailand

Partnering with the right audit firm in Thailand is essential for both local enterprises and multinational corporations navigating the country’s specific regulatory landscape. A specialized audit firm does much more than simply sign off on annual statements, it provides robust financial assurance, mitigates severe compliance risks with the Department of Business Development (DBD) and the Revenue Department, and significantly enhances corporate credibility. Whether you require a mandatory statutory audit to satisfy Thai legal requirements or a complex group audit for an international headquarters, selecting an experienced, internationally recognized audit firm in Bangkok ensures your financial reporting is precise, timely, and aligned with your commercial growth.

Who Needs Audit Services in Thailand?

• Limited Companies: All private and public limited companies registered in Thailand, including those that are currently dormant.
• Foreign Juristic Persons: Branches, representative offices, and regional offices of foreign companies conducting business in Thailand.
• Registered Partnerships: Certain registered ordinary and limited partnerships that meet specific capital, revenue, or asset thresholds.
• BOI-Promoted Companies: Businesses operating under the Board of Investment (BOI) that require certified audits to maintain their tax incentives and privileges.
• Joint Ventures: Collaborative entities that require independent financial verification to ensure transparency and fairness between partnering stakeholders.

Audit Requirements in Thailand

Under Thai law, every registered legal entity, regardless of whether it is actively trading or dormant, must prepare financial statements at the end of its fiscal year and have them audited by a Thai Certified Public Accountant (CPA). These audited financial statements must be prepared in accordance with Thai Financial Reporting Standards (TFRS) and formally approved by shareholders during the Annual General Meeting (AGM). Following shareholder approval, the audited accounts must be filed with the Department of Business Development (DBD) within one month of the AGM, while the corresponding corporate income tax return (P.N.D. 50) must be submitted to the Revenue Department within 150 days of the accounting period’s close.

Audit vs. Assurance

Audit Process

1. Planning and Risk Assessment: Understanding the client’s business environment, identifying key financial risks, and developing a tailored, efficient audit strategy.
2. Internal Control Evaluation: Assessing the design and practical implementation of the company’s internal controls and accounting systems.
3. Evidence Gathering and Fieldwork: Testing financial transactions, verifying physical account balances, and requesting external confirmations from banks and third parties.
4. Analysis and Review: Evaluating the audit findings against applicable financial reporting frameworks to identify any material misstatements.
5. Reporting: Issuing the final audit opinion and providing management with a detailed letter highlighting control weaknesses and actionable business recommendations.
6. Post-Audit Filing Guidance: Assisting with or guiding the submission of the approved financial statements to the relevant Thai government agencies.

Documents Required for an Audit

• General Ledger and a complete Trial Balance for the fiscal year.
• Bank statements and bank reconciliations for all corporate accounts.
• Inventory records and fixed asset registers containing depreciation schedules.
• All sales invoices, purchase receipts, and operational expense vouchers.
• Monthly tax filings, including VAT (PP.30) and Withholding Tax (PND 1, 3, 53) returns.
• Payroll records and Social Security Fund contribution receipts.
• Important corporate documents (Company Affidavit, Articles of Association, Minutes of Board Meetings).
• The previous year’s audited financial statements and corporate tax returns (P.N.D. 50).

FAQs

 1. What is an audit service?

An audit service is the professional, independent examination of an organization’s financial statements and underlying records to express an opinion on whether the statements are presented fairly and in accordance with an applicable financial reporting framework (like TFRS or IFRS). It provides assurance to stakeholders regarding the reliability of the financial information.

2. Why is auditing important?

Auditing is important because it enhances the credibility and reliability of financial statements, which is crucial for investors, creditors, and other stakeholders making decisions. It also helps to detect and prevent errors or fraud, improve internal controls, and ensure compliance with legal and regulatory requirements.

3. What are the 4 types of audit?

• Financial Audit: Examination of financial statements to express an opinion on their fairness.
• Internal Audit: An independent, objective assurance and consulting activity designed to add value and improve an organization’s operations (often performed by in-house or contracted professionals).
• Compliance Audit: Review to determine whether an entity is following specific procedures, rules, laws, or regulations.
• Operational/Performance Audit: A systematic review of an organization’s activities, or a part of it, to assess efficiency and effectiveness.