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Statutory Audit in Thailand.
Statutory audit in Thailand: which entities need a licensed auditor's opinion, the small-partnership exemption, DBD filing deadlines, and how an audit runs.
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Key facts
- Which entities need a statutory audit in Thailand?
- Limited companies, public limited companies, registered partnerships, foreign juristic persons doing business in Thailand, and joint ventures under the Revenue Code all file annual financial statements with the DBD, audited by a licensed auditor. Small Thai registered partnerships under the capital, asset, and revenue thresholds are exempt.
- When do the audited statements have to be filed?
- A limited company has its audited statements approved by the general meeting within 4 months of closing the accounts and files them with the registrar within 1 month of approval. Partnerships, foreign juristic persons, and joint ventures file within 5 months of closing.
- Who is allowed to sign the audit opinion?
- A certified public accountant licensed under the Accounting Professions Act B.E. 2547 and regulated by the Federation of Accounting Professions (TFAC). The auditor must be independent of the company.
Statutory audit, done properly.
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Statutory audit in Thailand: who needs one
A statutory audit in Thailand is the annual examination of a company's financial statements by a licensed auditor, done because the law requires it rather than because a lender or a parent company asked. Audits commissioned for other reasons, such as group reporting packages or bank covenants, are financial audits, a separate engagement with its own page.
The Department of Business Development's filing rules cover five kinds of registered entity: limited companies, public limited companies, registered partnerships, foreign juristic persons doing business in Thailand, and joint ventures under the Revenue Code. Each files financial statements with the DBD every year, whether or not it traded, and for companies those statements must have been examined and opined on by a certified public accountant.
The auditor who signs is a CPA licensed under the Accounting Professions Act B.E. 2547, regulated by the Federation of Accounting Professions (TFAC), which issues, suspends, and revokes audit licenses and sets the auditing standards the work follows. An in-house accountant cannot sign off their own company's statements; the opinion has to come from an independent licensed auditor.
Required
Small Thai registered partnerships get a carve-out: with registered capital of no more than 5 million baht, total assets of no more than 30 million baht, and total revenue of no more than 30 million baht, the partnership is exempt from having its financial statements audited by a licensed auditor. Cross any one of those three thresholds and the exemption falls away for that year. The exemption never applies to limited companies.
Who files audited financial statements, and when
Deadlines from the Department of Business Development's financial-statement submission rules. The clock always starts at the closing date of the accounting period.
| Deadline | |
|---|---|
| Limited company / public limited company | Audited statements approved by the general meeting within 4 months of closing the accounts, then filed with the registrar within 1 month of that approval |
| Registered partnership (above the exemption thresholds) | Audited statements filed with the registrar within 5 months of closing the accounts |
| Foreign juristic person doing business in Thailand / joint venture under the Revenue Code | Audited statements filed with the registrar within 5 months of closing the accounts |
- Limited company / public limited company
- Audited statements approved by the general meeting within 4 months of closing the accounts, then filed with the registrar within 1 month of that approval
- Registered partnership (above the exemption thresholds)
- Audited statements filed with the registrar within 5 months of closing the accounts
- Foreign juristic person doing business in Thailand / joint venture under the Revenue Code
- Audited statements filed with the registrar within 5 months of closing the accounts
Source: Department of Business Development, financial-statement submission manual
Checked August 2026
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From audit opinion to DBD filing
The audit is the first link in a fixed chain. For a limited company the audited financial statements go to the annual general meeting for shareholder approval within four months of the closing date, and the approved statements are then filed with the registrar within one month of the meeting, in practice through the DBD e-Filing system. For a typical December year end that puts the AGM by the end of April and the DBD filing by the end of May.
The same closed books feed the annual corporate income tax return, which the Revenue Department requires within 150 days of the closing date; corporate tax filing runs as a parallel deadline off the same numbers, which is why the audit slipping late tends to make everything else late too.
Filing late or not at all carries fines under the filing rules. The amounts depend on the entity and the delay, so a firm confirms the current figures for a specific case rather than a page quoting one number.
An audit year, month by month
Appoint the auditor and plan
The company appoints a licensed auditor, agrees scope and fees, and the audit firm plans the work: understanding the business, the accounting system, and where the risk of misstatement sits. Done properly this happens before year end, not after.
Interim work during the year
For all but the smallest companies the auditors test controls and transactions before the year closes. Clean monthly bookkeeping is what makes this stage quick; most audit overruns trace back to books that were not reconciled through the year.
Year-end close and fieldwork
After the closing date the company closes its books and the auditors do the main fieldwork: confirmations, cut-off testing, valuation checks, and the adjustments discussion. The financial statements take their final form here.
Opinion, approval, filing
The CPA signs the audit opinion, the statements go to the general meeting for approval within the four-month window, and the approved set is filed with the DBD within one month of approval, with the audit file kept behind it.
Choosing an audit firm
The signature matters as much as the price. Confirm the individual CPA's license is current, ask who actually does the fieldwork, and check the firm knows your sector; a first-year audit of messy books costs more than a renewal on clean ones, so compare quotes on the same scope. Audit firms range from sole-practitioner CPAs to large practices, and accounting firms in Thailand often coordinate the close so the auditors walk into finished books.
This page is general information, not legal advice. Deadlines, thresholds, and procedures change; for a specific company, speak with a qualified professional.
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Common questions
Frequently asked questions
- Does every company in Thailand need a statutory audit?
- Every limited company and public limited company registered in Thailand files annual financial statements audited by a licensed auditor, whether or not it traded that year. The only exemption in the DBD filing rules is for small Thai registered partnerships with registered capital of 5 million baht or less, total assets of 30 million baht or less, and total revenue of 30 million baht or less; exceeding any one threshold ends the exemption.
- What is the deadline for a statutory audit in Thailand?
- The law fixes the filing chain rather than the audit date itself. A limited company must have its audited financial statements approved by the general meeting within 4 months of the closing date of its accounting period and filed with the registrar within 1 month of that approval. For a December year end that means approval by the end of April and filing by the end of May, so the audit has to finish early enough to feed that chain.
- Who can perform a statutory audit in Thailand?
- A certified public accountant holding a current license under the Accounting Professions Act B.E. 2547. The Federation of Accounting Professions (TFAC) issues, suspends, and revokes those licenses and sets the auditing standards the audit follows. The auditor is independent of the company; a company's own accountant cannot audit the statements they prepared.
- How is the statutory audit connected to the corporate tax return?
- They run off the same closed books on parallel clocks. The audited financial statements go through shareholder approval to the DBD, while the annual corporate income tax return is due to the Revenue Department within 150 days of the closing date of the accounting period. A late audit usually pushes both deadlines, which is why firms plan the close, the audit, and the tax return as one calendar.
- What happens if the audited statements are filed late?
- Late or missing filings carry fines under the DBD's filing rules, and the exposure grows with the delay. The published fine tables depend on the entity type and how late the filing is, so a firm confirms the current amounts and the cheapest way to regularise before anything else is filed.
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