You will find here a series of summaries providing an overview of useful audit regulations, processes and audit issues for Doing Business in Thailand.

New Auditors’ Report and Key Audit Matters

The auditor’s report is the key deliverable communicating the results of the audit process. The new and revised Auditor Reporting Standards are designed to enhance auditor’s reports for investors and other users of financial statements.

Restating a Company’s Prior Year Financial Statements

What happens if a company finds that an asset on the balance sheet had actually been destroyed two years previously or a project’s work in progress had been wrongly calculated in previous years? Is it possible to recognise the adjustment in the current year’s financial statements or is it necessary to restate the prior year(s)?