Four Common Services Offered by Administration Firms

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Administration Firms

There are several administration firms in Thailand that offer a range of different services to companies. As a business owner, your company is going to have to deal with administration firms several times over its lifespan. An administration firm can make life incredibly easy for your business by offering tailored advice and direction for your company. There are a number of different services that administration firms offer to clients from all markets and sectors. It doesn’t matter whether you have just started your own company or already have an established business, you will need to consult with administration firms time and again. Here are four common services that they offer which you will require.

  1. Auditing

Auditing your financial statements is incredibly important. For public limited companies, auditing is necessary. But, even for private enterprises, auditing the statements is something that should be taken seriously. Auditing simply means to check the statements for any signs of material misstatements and to check for signs of obvious fraud. A lot of people are under the impression that auditing is designed to figure out all instances of fraud, but that’s not true at all. This actually leads to an “expectation gap” within the industry, where people think that the auditor’s role is quite different than what it really is.

Auditing the financial statements offer a plethora of advantages to your company. If you are running a private enterprise and are looking for investors to grow your business, auditing your financial statements will add considerable credibility and allow an investor to get interested. Many investors don’t even look at financial statements if they haven’t been audited by a decent company. For public limited companies, this is a requirement on a yearly basis.

  1. Accounting

Hiring an accountant is usually quite expensive for most businesses. It’s understandable, because most startups don’t have as much money as they can spare for their payroll. Instead, you can hire a professional administration firm to handle the accounting side of things. You can get in touch with a reliable administration firm that also offers BOI advisory in Thailand to prepare your accounts as well. It’s a wise move for businesses that want to grow and want to put their money in the right place.

  1. Tax

Do you want to learn how you can save money on your tax payable? It’s much easier said than done, because tax evasion is a crime. Tax avoidance, on the other hand, is not. You can sit down with a tax consultant to find out how much money you can save on your tax payable.

  1. Advisory

Advisory services are needed by companies to figure out whether they are complying with the local rules and regulations, or whether the company can make some fundamental changes to improve their growth rate. It’s important for businesses to get in touch with an administration firm so that they can streamline their operations accordingly and with minimal hassle.