GPS Accounting
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Full service accountancy practice registered with the Thai Federation of Accounting Professions delivering accountancy and tax services in English.
Service guide
Compliance Audit in Thailand.
Compliance audit in Thailand: an audit firm checks tax filings, BOI conditions, and licences against the actual rules, before a deal or after an incident.
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Key facts
- What does a compliance audit check?
- Whether the company actually met specific obligations in a defined period: tax filings, BOI certificate conditions, licences, and similar. Each item gets a verdict and a corrective step.
- How is it different from an internal audit?
- An internal audit reviews how controls and processes work in general. A compliance audit tests past performance against named rules: was each return filed, was each condition met.
- When do companies commission one?
- Most engagements are one of three: due diligence before an acquisition, a full review after an incident or authority enquiry, or an annual health check alongside the year-end close.
Compliance audit, done properly.
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Compliance audit in Thailand: did the company actually comply?
A compliance audit in Thailand answers one question, obligation by obligation: did the company do what a specific rule required, on time and in full? The auditor takes a defined set of obligations, tax filings, promotion conditions, licences, and tests the company's records against each one.
That makes it narrower and more concrete than an internal audit, which reviews how controls and processes work in general. A compliance audit does not ask whether the purchasing process is well designed. It asks whether last year's returns were filed, whether the conditions on the certificate were met, and what the gap costs if not.
The output is a findings report: what was met, what was missed, what to correct first.
What gets tested against the rules
Tax filings are the usual core. The Revenue Department publishes a fixed calendar: Thai and foreign companies carrying on business in Thailand must file corporate income tax returns, with the annual return due within 150 days of the accounting period's close and a half-year prepayment return on top, and VAT-registered businesses must file the monthly VAT return within 15 days of the following month. A compliance audit checks that each return in the review period was filed and that what was filed matches the books; the calendar itself, and running it, is corporate tax filing work. The check matters because a false or incomplete return can be summonsed and assessed by the Revenue Department years after it was filed.
For a promoted company, the review extends to the promotion certificate. BOI incentives are granted as specified in the certificate, and the BOI follows up on performance reports and supervises project conditions, so the audit tests whether the company can evidence each condition. Keeping those records straight month to month is BOI accounting work.
The same method applies to whatever else the company answers to: business licences, social security registration and monthly submissions (a firm confirms the current rates and duties), and sector rules. The scope is a list of named obligations, agreed before fieldwork starts.
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Contact experts who handle compliance audit in Thailand
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Law firmBangkokEnglish · Thai · Spanish
Experts assisting clients in conducting their businesses and protecting their rights and investments in Thailand across a wide range of legal matters.
How a compliance audit runs
Fix the scope and period
You and the firm list the obligations to test, tax, BOI, licences, employment, and the years covered. A named list keeps the fee predictable and the report usable.
Gather the record
The firm collects filed returns, receipts, certificates, licences, and correspondence, and pulls the company's own books for the same period.
Test obligation by obligation
Each item on the list gets a verdict: met, met late, not met, or cannot be evidenced. The last category matters as much as the misses; an obligation you cannot prove you met is a live risk.
Report and fix plan
Findings come ranked with corrective steps: returns to amend, filings to catch up, evidence to rebuild. Where a finding points at a dispute rather than a correction, it goes to lawyers, not the auditors.
When companies commission one
Three moments account for most engagements. Before an acquisition, the buyer commissions a compliance audit of the target so the price reflects the filings, conditions, and licences as they actually stand. After an incident, a Revenue Department enquiry, a missed BOI report, a fraud discovery, the board wants the full picture before deciding what to disclose and fix. And as an annual health check, usually alongside the year-end close, so small misses are corrected while they are still cheap.
Accounting firms in Thailand and audit firms both run compliance audits; pick a firm that knows the specific regimes on your list, because a generic checklist misses exactly the conditions that matter. Where a finding uncovers a position the company intends to defend rather than correct, tax lawyers in Thailand take over from the auditors.
This page is general information, not legal advice. Rules, deadlines, and procedures change; for a specific company, speak with a qualified professional.
Also listed
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GPS Accounting
Free consultation
Accounting firmBangkokEnglish · Thai · Filipino · Swedish
Full service accountancy practice registered with the Thai Federation of Accounting Professions delivering accountancy and tax services in English.
Law firmBangkokEnglish · Thai · Spanish
Experts assisting clients in conducting their businesses and protecting their rights and investments in Thailand across a wide range of legal matters.
Next step
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Common questions
Frequently asked questions
- What does a compliance audit in Thailand cover?
- An agreed list of obligations tested against the record. Tax filings are the usual core: the annual corporate return due within 150 days of the accounting period's close, the half-year prepayment return, and monthly VAT returns due within 15 days of the following month for VAT-registered businesses. For promoted companies the list extends to BOI certificate conditions, and for others to licences, social security submissions, and sector rules.
- Why audit filings that were already submitted?
- Because filed does not mean finished. The Revenue Code lets an assessment official summons and assess a company that filed a false or incomplete return, so an error can surface years later with the exposure grown. A compliance audit finds those errors while the company can still choose how to correct them.
- What happens to BOI incentives if conditions were not met?
- BOI incentives are granted as specified in the promotion certificate, and the BOI follows up on performance reports and supervises project conditions. What follows from a specific missed condition depends on the certificate and the facts, so a compliance audit establishes exactly which conditions can be evidenced, and a firm advises on the specific consequence rather than a page quoting a general rule.
- What does a compliance audit cost?
- Firms quote by scope: how many obligations, entities, and years are on the list. A single-regime review, tax filings for two years, costs a fraction of full pre-acquisition due diligence. No official fee scale exists, so compare quotes on what actually gets tested.
- Who should run it, accountants or lawyers?
- The testing itself is accounting and audit work: reconciling filings, evidence, and books. Lawyers come in when a finding needs a legal judgment, whether to amend or defend a position, how to handle a licence gap. Many engagements use an accounting firm for the audit with lawyers on call for the findings that need them.
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GPS Accounting
Free consultation
Accounting firmBangkokEnglish · Thai · Filipino · Swedish
Full service accountancy practice registered with the Thai Federation of Accounting Professions delivering accountancy and tax services in English.
Law firmBangkokEnglish · Thai · Spanish
Experts assisting clients in conducting their businesses and protecting their rights and investments in Thailand across a wide range of legal matters.
Guides & Insights
Practical explainers on this topic: general information, not professional advice.
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