Which financial reporting standards apply to a Thai business?

Can an unlisted business automatically use simplified standards?

Listing status alone is insufficient. Thai financial reporting standards define the scope for non-publicly accountable entities (NPAEs). Matters requiring particular checks include publicly traded equity or debt securities, a public offering in progress and certain institutions whose principal business involves managing public assets. Determine the applicable standards from public accountability, legal form and actual activities.

Can group and Thai statutory financial statements simply use the same format?

Compare group policy with applicable Thai requirements to determine how measurement, presentation and disclosure need to align. A head-office template helps group management but does not replace assessment of local reporting requirements.

How should the business prepare?

Organise ownership and financing information, business transactions, existing statements and group requirements for review with the accounting and audit professionals. THAIHOUSING can assist with accounting and coordination of audit documents, establishing a clear connection between local filings and the group's information needs.

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