Yearly Audit

[MHM]

For a business with 4 million Baht registered capital & 2 work permits what would the expected cost of the first year audit be?

Thanks

[stoneman]

I own a company here in BKK and we pay our accountant a monthly fee plus we pay and additional 12,000 baht to have all of our annual reports and filings done...

[Richard Hall]

12,000 baht for the annual balance report is surely a good bargain and indeed quite on the low end.

Crucial surely is that the job safisfies the authorities. The auditor must be accredited, sign all paperwork properly and take on liability for the job. Very important when it comes to a new full year extension on base of non-immigrant B. With the proper documents this assignment eases significantly.

A good and honest accountant is worth his/her weight in gold but usually the charge for year's closure reporting is in the area of 20,000 - 25,000 baht.

Cheers,

Richard

Edited May 29, 2005 by Richard Hall

[MHM]

Thank you both, that's very useful information esp the implications for renewing my visa. I'm meeting the accountant in the morning and will check this out.

[Sunbelt Asia]

Our auditor was charging on average 13,000 Baht for one year old companies. It depends on how many invoices and payouts your company was doing.

The audit is due tomorrow so hope you don't have lots of paperwork.

www.lawyer.th.com

[MHM]

No it's all finished, there was just the bill to haggle over. (upcountry price -9,000 Baht) The immigration office had a look this morning and said there was no problem with the auditor, so hopefully all is well. Thanks again for you help