Quick answer needed! Annual Audit Fees

**Gerbil** · 24-04-2013, 08:02 PM

I need a very rough, very fast answer to this:

Anyone any ideas on what an annual audit should cost for a Thai company with around 1 million US$ in annual revenues?

**Warrior** · 24-04-2013, 09:55 PM

Depends who you hire for that... the Big Four are expensive.
I also assume that it depends on where the company's offices are.
I have had books audited for a 100M baht revenue corp outside BKK for 30K. (not Big 4 though)

**Gerbil** · 24-04-2013, 10:24 PM

^ Cheers. That seems very low. I've been quoted around 150K Baht for a company with around 30 million Baht revenue, which I conversely think is on the high side.

problem is that going to an auditing firm and asking for a 'quote' involves wasting a shit load of time answering their questions about the company, transaction volumes and a whole load of other crap when I really just want a quick 'yeah that will cost you about 50-80K or something like that)

**Warrior** · 24-04-2013, 10:31 PM

Originally Posted by Gerbil

^ Cheers. That seems very low. I've been quoted around 150K Baht for a company with around 30 million Baht revenue, which I conversely think is on the high side.

problem is that going to an auditing firm and asking for a 'quote' involves wasting a shit load of time answering their questions about the company, transaction volumes and a whole load of other crap when I really just want a quick 'yeah that will cost you about 50-80K or something like that)

yep it is low. Forgot to mention - 2 yrs ago. Although I assume thats not changed much.
Keep in mind - this was in CM, and the guy is a local, running his own small business. But a Thai CPA.

**draco888** · 24-04-2013, 11:13 PM

Originally Posted by Gerbil

^ Cheers. That seems very low. I've been quoted around 150K Baht for a company with around 30 million Baht revenue, which I conversely think is on the high side.

problem is that going to an auditing firm and asking for a 'quote' involves wasting a shit load of time answering their questions about the company, transaction volumes and a whole load of other crap when I really just want a quick 'yeah that will cost you about 50-80K or something like that)

I thinks it's an almost impossible question to answer. How do you expect to get a quote without them knowing how complex the accounts are? For all they know there could only be a couple of transactions or many thousands.....

Depends also on how well the books have been kept or whether they are required to construct them from a mess.

**Warrior** · 25-04-2013, 02:58 PM

Draco, thats true. We had completed annual accounts, it was just a matter of auditing the - well kept - books and the - pretty good - internal control procedures.

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