Wait! Have a Look at This before You Appoint a Certified Public Accountant in Thailand
Are you on a look-out for a certified public accountant in Thailand? So, are you well informed about them? I mean do you know what to expect from them, what are their roles and responsibilities and how accounting professions were organized formally? No? See, you must understand the need of knowing about them before you appoint anyone. As for your information, you should know that the accounting profession in Thailand was formally structured when the Institute of Certified Accountants and Auditors of Thailand (ICAAT) was established in the year 1948. Primary activities of the profession were setting accounting and auditing standards, based on the IAS and ISA standards.
According to the Accounting Professions Act B.E. 2547 (2004), the professionals initially covered six areas including, bookkeeping, financial accounting, accounting systems, accounting education and technology and auditing. Now, what does this committee, ICAAT do? They have the authority to;
- Supervise the performances of the accounting professionals to ensure that they comply with the Thai laws and objectives.
- Approve the regulations of the Federation of Accounting Professions under the section 30
- Propose Royal Decrees’ enactment under section 9
- Consider appeals of allegers and/or individuals penalized by the Committee under the Section 55
- Appoint sub-committees to carry out activities under their authorities
On appointing a certified public accountant in Thailand you will be rest assured that they are looked after by the Committee, ensuring that they follow the Code of Ethics that includes integrity, objectivity, professional competence and due care, confidentiality, professional behavior, transparency, independence, accountability and professional standard.
If your accounting professional happens to breach the standards a case can be filed by the regulators. A certified professional will make sure to comply with the accounting and auditing standards. To appoint our certified professionals for your accounting needs, you can write to us or give us a call.
