Auditing in ThailandThe last stage here for your company’s accounting is the approval of a qualified auditor of the financial statements by the auditor (s) through an audit opinion. Now note that without the auditor’s approval, all the reports will be futile as they will now lack credibility which an auditor can add to the report upon his/her approval.

Generally speaking auditing aims at providing an objective independent examination of the financial statements, which increases the value and credibility of the financial statements produced by management, thus increase user confidence in the financial statement, reduce investor risk and consequently reduces the cost of capital of the preparer of the financial statements.

Moreover, auditing is important in business at it promotes transparency and accuracy in the financial disclosures made by an organization, therefore would likely to reduce of such corporations to conceal unscrupulous dealings.

Auditing in ThailandWhy the need for financial Audits?

The need for financial audits is not only for internal use or for the organization’s management use to inform their primary stakeholders about the financial performance of the organization. It is also done for the sake of other parties such as tax authorities, banks, regulators, suppliers, customers and employees may also have an interest in knowing that the financial statements are presented fairly, in all material aspects.

The Auditor

In Thailand, a qualified auditor is one who’s licensed to practice as one. Usually, accounting firms employ their own auditors or outsourced audit works from individual auditors practicing independently. This is usually the case for small accounting firms.

Auditing Service in Thailand

Audit Service is for auditing the company financial documents prepared by the accountant to be done by a licensed auditor and finalizing the financial report by the auditor certifying its correctness. In addition, for the Internal Audit, it aims at examining the operation of company resulting in implementing a reliable system of work by harmonizing the internal system control according to COSO and designing the internal system control properly to match with the business.

G.A.M. Accounting Service can help you with auditing your financial statements through its qualified auditors. Contact US today for more information.