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Professionals Services
THAI AUDIT
Company Profile

Thai Audit & Advisory Co., Ltd., is an audit firm based in Bangkok, Thailand. It was found in 2018 aiming for serving audit and assurance to Thai and foreign customers through our qualified and experienced auditors, associates and support staff. To meet those requirements, we deliver our professional services with generally accepted standards, reliable cost-effective within specific timeline required by customer while preserving our core values of quality, integrity, independence and customer focus. Thai Audit & Advisory Co., Ltd., is an affiliate firm of Thai Advisory Office Co., Ltd., and Thai Accounting Office Co., Ltd., which are professional firms practicing in legal, tax and accounting in Thailand since 2010. Our Value: As part of profession with continuous changes in financial reporting and auditing standards, all staffs are required to maintain their competence through formal trainings and on-the-job trainings. We make sure the personnel’s competence is up to date by implementing strict ongoing development strategy.

Our Audit and Assurance Approach
Planning
  • Understand business
  • Perform risk assessment & identify significant risk
  • Determine audit strategy
  • Determine planned audit approach
Control Testing
  • Understand accounting & reporting activities
  • Internal controls
  • Evaluate design & implementation of selected controls
  • Test operating effectiveness of selected controls
  • Assess control risk & risk of material misstatement
Substantive Testing
  • Plan substantive procedure
  • Perform substantive test
  • Obtain audit evidence that is sufficient and appropriate
  • Conclude critical accounting matter
Completion
  • Communicate significant audit findings
  • Overall evaluation of financial statements & disclosures Form an audit opinion
RANGE OF SERVICE

Internal audit - To evaluate a company’s internal controls, including its corporate governance and accounting processes. These audits ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection. Internal audits also provide management with the tools necessary to attain operational efficiency by identifying problems and correcting lapses before they are discovered in an external audit.

BOI Audit - To audit BOI operation to make sure that a company has complied with all conditions set out by the BOI in the year that they have profits and want to exercise the corporate income tax exemption right.

Statutory financial statement Audit - A statutory audit is a legally required review of the accuracy of a company's or government's financial statements and records. The purpose of a statutory audit is to determine whether an organization provides a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records, and financial transactions.

Compliance audit - A compliance audit is a review performed to ascertain an enterprise’s adherence to regulatory guidelines. Audit reports evaluate the strength and comprehensiveness of an organization’s compliance preparations, security policies, user access controls, and risk management procedures.

Audit reporting package - While audits are conducted to satisfy Thailand's statutory requirements, review reporting packages (where required) is for the group's auditor to comply with group or parent company requirements for consolidation purposes. Reporting packages are often required to fit IFRS or US GAAP plus the country's accounting standards.