Accounting Services

STA Quality Accounting Office

STA Quality Accounting Office is supported by government and private agencies. We have received awards and certificates from the Department of Business Development, Ministry of Commerce; the Revenue Department, Ministry of Finance; and the Thai Chamber of Commerce. We are the first accounting office to receive the Outstanding Ethics Award from the Thai Chamber of Commerce and the Outstanding Business Governance Award from the Department of Business Development, Ministry of Commerce. We conduct business based on the principles of good governance, transparency, honesty, social responsibility, and fairness to all involved parties. These principles are reflected in the policies and activities that STA Quality Accounting Office has consistently implemented.

Auditing
(Annual)

Service details

STA focuses on providing a wide range of services to clients. Our core services include auditing financial statements for both Thai and foreign clients, auditing accounts, tax auditors, CPAs, and certified public accountants.

Company Document Review
- Reviewing various documents and tangible assets, such as government bonds, promissory notes, land title deeds, shareholding documents, and insurance policies.

On-site Observation
- Analyzing and analyzing the facts, including using observations to assess the facts and make judgments about what is seen and recorded, such as observing staff work, paying salaries, and observing inventory counts.

Inspecting assets found on-site or in various documents.
- Verifying the quantity and quality of the items to be audited, ensuring their existence and completeness as recorded.

Comparative Analysis
- An audit that analyzes the reasonable relationships between financial and non-financial data, examining whether they are consistent with expectations, and including any unusual fluctuations.

Service Details

1. Auditing accounts and financial statements by a team of certified public accountants. The audit will be conducted in accordance with generally accepted auditing standards, using testing methods for accounting items. Internal control systems and financial statement disclosure assess the appropriateness of the accounting principles used by the business, including estimates of material financial items.

2. Provide observations to management. The audit is not intended to identify any specific accounting errors or fraud. However, the audit results may point to certain errors or fraud. The firm will provide observations to management to identify any significant deficiencies in internal accounting controls discovered during the audit.

3. The purpose of the audit is to provide an opinion in the audit report on whether the financial statements present the financial position and operating results fairly, in all material respects, in accordance with generally accepted accounting policies. The auditor's opinion is therefore based on the audit results. If a different report is required, the firm will provide clarification of the facts before submitting the audit report.

4. Financial statement submission services include preparing supporting details for submission as required, including Form SorPorChor.3 and a copy of the shareholder list (Form BorChor.5), to be submitted to the Ministry of Commerce.

Benefits to be received

We assist with financial statement audits in accordance with auditing standards established by the Federation of Accounting Professions and conduct special audits for income tax and VAT refunds in accordance with the requirements of the Revenue Department.

1. Testing supporting evidence
2. Evaluating the appropriateness of accounting principles and accounting estimates
3. Evaluating the appropriateness of disclosures and overall presentation of financial statements
4. Expressing opinions on annual financial statements
5. Providing accounting and tax consulting services
6. Providing annual financial statement submission services
7. Providing annual corporate income tax filing services
8. Providing management with notifications of deficiencies in internal control systems and accounting procedures

Criteria for calculating service fees

The cost of auditing services cannot be clearly stated because the types of business differ and therefore the complexity of accounting documents also differ.

Work steps

1. Audit accounts and financial statements by a team of certified public accountants who meet standards. The audit will be conducted in accordance with generally accepted auditing standards. This includes testing accounting records, internal control systems, and disclosure of financial information. The audit will assess the appropriateness of the accounting principles used, including estimates of material financial items.

2. Provide observations to management. The audit is not intended to identify any specific accounting errors or fraud. However, the audit results may point to certain errors or fraud. The office will provide observations to management to identify any significant internal accounting control deficiencies discovered during the audit.

3. The purpose of the audit is to provide an opinion in the audit report on whether the financial statements present the financial position and operating results fairly, in all material respects, in accordance with generally accepted accounting policies. The auditor's opinion is therefore based on the audit results. If a different report is required, the office will provide clarification of the facts before submitting the audit report.

4. Financial statement submission services include preparing supporting details for submission as required, including Form SorPorChor.3 and a copy of the shareholder list (Form BorChor.5), to be submitted to the Ministry of Commerce.

Documents to be prepared for the company

General Documents Required for Auditing

1. Prepare copies of important company documents, such as the company's certificate of incorporation, shareholder list, meeting minutes, licenses, etc.
2. Prepare a copy of the company's organization chart, including the names and positions of responsible persons.
3. Policies and operational guidelines for each department.
4. The company's internal control system and internal control testing.
5. Executive certifications regarding accounting policies, accounting estimates, selling prices not lower than cost, transfer pricing issues, rights and obligations, S.B.C.3 and S.B.C.5.
6. Original contracts and documents showing business obligations.

Accounting Documents Required for Auditing

1. Financial Statements and Data, including Trial Balance, Balance Sheet, Profit and Loss Statement, etc.
2. Bank Accounting Book, Bank Statement, and Bank Reconciliation Statement
3. Fixed Asset Register and Existing Assets
4. Purchase/Sales Tax Report, including tax invoices and copies of Form Por.Por.30 and receipts
5. Accounts Receivable Aging Report and accounts payable aging report (AR, AP Aging report)
6. Inventory aging report
7. Inventory valuation report, comparing cost to net realizable value (NRV)
8. Production cost and sales cost calculation report
9. Corporate income tax calculation report, including income exempted from income tax, expenses eligible for additional deductions, and expenses not considered expenses under the Revenue Code
10. Copies of Por.Ngor.Dor. 51 and Por.Ngor.Dor. 50 (previous year)
11. Documents supporting the initial daily accounting records, general daily records, general ledgers, and related accounting books
12. Employee income calculation report, employee register, copies of Por.Ngor.Dor. 1 and Por.Ngor.Dor. 1 Kor, along with receipts
13. Copies of Por.Ngor.Dor. 3, 53, and 54, along with receipts (Withholding tax for individuals and juristic persons, and payments of assessable income under Section 40 (2), (3), (4), (5), or (6) of the Revenue Code to companies or juristic partnerships established under foreign laws)
14. Copy of Form Por.Por.36 with receipt (paid to foreign operators earning income in Thailand or operators providing services abroad and using services in Thailand)
15. Employee benefit calculation report that complies with accounting standards
16. Summary of issues and preparation of worksheets for auditing and report issuance

Document receiving time

Frequently asked questions

1)
Q: What auditing services does STA provide?
A: We provide internal auditing, accounting auditing services for government organizations, limited companies, and public companies.

2)
Q: What is the satisfactory and acceptable sampling volume for each business type by the Revenue Department?
A: The Revenue Department does not specify this. However, it is at the discretion of the auditor and auditor to determine the amount of sampling required to obtain sufficient evidence for reporting.

3)
Q: Are financial statements required to be submitted to both the Ministry of Commerce and the Revenue Department?
A: Yes, they must be submitted to both, as stipulated by law. The financial statements must be submitted to the Ministry of Commerce and the financial statements, along with the PND 50 form, must be submitted to the Revenue Department. They may not be submitted simultaneously, but must be submitted within the deadlines set by the Ministry of Commerce and the Revenue Department. The financial statements submitted to the Ministry of Commerce and the Revenue Department must match.