Who is an Auditor❓ Difference Between CPA vs TA

Who is an Auditor❓ Difference Between CPA vs TA

🔹Tax Auditing

A natural person who is qualified and licensed as a tax auditor from the Director-General of the Revenue Department to audit and certify accounts of small juristic partnerships in accordance with Section 3 SET of the Revenue Code. and submit an audit and accounting certification report to the Director-General of the Revenue Department along with financial statements and income tax returns.

🔹 What types of auditors are there?

1. Tax Auditor (TA) licensed by the Director-General of the Revenue Department which checks and certifying the account of a small juristic partnership (only one type)

2. Certified Public Accountant (CPA) licensed by the Federation of Accounting Professions (which audits and certifies the accounts of small juristic partnerships) must perform the same tasks and reports as tax auditor

Therefore, the tax auditor in this chapter shall include the Certified Public Accountant. which serves to check and certify the account of a small juristic partnership as well

🔹What are the duties of an auditor?

The auditor has the following duties:

1. Verify and certify the account by performing work in accordance with the guidelines prescribed by the Federation of Accounting Professions or the Revenue Department

2. Prepare a report of a certified public accountant or an audit and account certification report to report the results of the inspection

🔹 Does the company need an auditor?

It's absolutely necessary. because the law requires these entities Must have an auditor to examine their financial statements before submitting or filing annual tax returns

- Juristic Ordinary Partnership and limited partnership

- limited company

- Public Company Limited

- Juristic persons established under different laws Countries doing business in Thailand

- Joint venture under the Revenue Code

- Foundations, Associations

- Condominium juristic person or housing estate

🔹 Failure to arrange an auditor Juristic persons and representatives must be aware of the fines not exceeding 20,000 baht!!

In addition, the failure to submit financial statements or not filing tax, there will be many other penalties and fines, such as

- Failure to do accounting: beware of fines not exceeding 30,000 baht and not exceeding 1,000 baht per day until doing the right thing.

- Do not arrange for a bookkeeper: beware of fines not exceeding 10,000 baht

- Failure to prepare/not submit financial statements: beware of fines not exceeding 50,000 baht

🔹 Where can I find an auditor?

If you still have a headache and don't know where to find an auditor, you can easily search at the Accounting Center ( https://accountingcenter.co/auditor ). There are many for you to choose from.

🔹 The process of searching for an auditor

1. Click this link https://accountingcenter.co/auditor To find a CPA, TA auditor

2. Specify provinces and districts (only Bangkok)

3. Specify your business type in the result filter such as business type, legal entity type, income balance, etc.

4. Directly contact the auditor who resonates with you. According to the contact information provided by the auditor

🔹 Difference between TA and CPA

- registration

tax auditor Must be a registered and licensed person Acting as a tax auditor from the Director-General of the Revenue Department According to the Revenue Department's order no. TorPor.98/2544

Certified Public Accountant Must be a registered and licensed person is a certified public accountant from the Federation of Professions under the Professions Act B.E. 2547

- Right to work

tax auditor Able to audit and certify accounts only for small juristic partnerships (capital not exceeding 5 million baht, total assets not exceeding 30 million baht and total income not exceeding 30 million baht)

Certified Public Accountant Able to verify and certify company accounts and juristic partnerships under section 39 of the Revenue Code

- Criteria for working

tax auditor comply with the rules, procedures and conditions prescribed by the Director-General of the Revenue Department according to the order of the Revenue Department T.P.122/2545 For checking and certifying accounts of small juristic partnerships

Certified Public Accountant Perform tasks as required by the Federation of Professional Accounts for auditing and certifying company accounts and large juristic partnerships, perform duties as prescribed by the Director-General of the Revenue Department as well as tax auditors. For checking and certifying accounts of small juristic partnerships

- Audit reporting and account certification

tax auditor Prepare an audit report and certify accounts. As prescribed by the Director-General of the Revenue Department in the Revenue Department Order No. Tor Por.122/2545 for the inspection of small juristic partnerships for inspection and certification of small juristic partnership accounts.

Certified Public Accountant Prepare a report of a certified public accountant for auditing and certifying accounts of companies and large juristic partnerships; prepare an audit report and certify accounts according to the Director-General of the Revenue Department as well as tax auditors for audits. Examination of small juristic partnerships

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