Accounting - Bookkeeping Questions

[SMEinBangkok]

Without writing a page of text about the background to the question, I was hoping that a few forum members could pass on any advice or guidance about the following.  I have a branch office established in Bangkok under Amity Treaty protection.  It was registered in Oct 2015.  My new accountant/bookkeeper is saying that I needed to have an audit done for 2015, which seems to contradict all the information I can find on this subject.  They want to charge me over 50,000 baht for the audit....and this is for a branch office that was basically inactive....I was in the US for most of the year.  Monthly VAT returns were filed.  20,000 baht of this is for the 'fine' for not having done the audit earlier

 

My questions:  Does an audit have to be performed for a business that was only open for two or three months of last year?  The BOI website says 12 months after initial registration.  Should an audit of zeros actually cost 50,000?

[blackcab]

Yes you need an audit. 50,000 baht is excessive. In fact 30,000 baht is excessive.

 

I think you need to consider changing accountants and auditors. 

[Nobbie49]

Indeed 50 K is excessive.  The information you provide is not very clear.  The company is either a rep office or a Treaty company, it cannot be both.  But since you mention VAT filings I will assume that you are registered as a Company Limited  under the Thai-American Treaty of Amity and Trade.  Call me for further assistance on 0816338468 that is assuming that I am allowed to post my tel number.

[Nobbie49]

22 minutes ago, Nobbie49 said:

Indeed 50 K is excessive.  The information you provide is not very clear.  The company is either a rep office or a Treaty company, it cannot be both.  But since you mention VAT filings I will assume that you are registered as a Company Limited  under the Thai-American Treaty of Amity and Trade.  Call me for further assistance on 0816338468 that is assuming that I am allowed to post my tel number.

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