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Internal audit
In today's increasingly competitive and regulated market place, organisations - both public and private - must demonstrate that they have adequate controls and safeguards in place. The availability of qualified internal audit resources is a common challenge for many organisations.
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At Grant Thornton, our International Financial Reporting Standards (IFRS) advisers can help you navigate the complexity of financial reporting so you can focus your time and effort on running your business.
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Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
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We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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Grant Thornton's executive recruitment is the real executive search and headhunting firms in Thailand.
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Interim executives are fixed-term-contract employees. Grant Thornton's specialist Executive Recruitment team can help you meet your interim executive needs
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You may be in another job already but are willing to consider a career move should the right position at the right company become available. Or you may not be working at the moment and would like to hear from us when a relevant job comes up.
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We provide retained recruitment services to multinational, Thai and Japanese organisations that are looking to fill management positions and senior level roles in Thailand.
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Submit your resume
Executive recruitment portal
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Executive recruitment portal
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Available positions for executive recruitment portal
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General intelligence assessments
The Applied Reasoning Test (ART) is a general intelligence assessment that enables you to assess the level of verbal, numerical reasoning and problem solving capabilities of job candidates in a reliable and job-related manner.
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Candidate background checks
We provide background checks and employee screening services to help our clients keep their organisation safe and profitable by protecting against the numerous pitfalls caused by unqualified, unethical, dangerous or criminal employees.
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Capital markets
If you’re buying or selling financial securities, you want corporate finance specialists experienced in international capital markets on your side.
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Corporate simplification
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Investigations
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Does your company need a health check? Grant Thornton’s expert team can help you get to the heart of your issues to drive sustainable growth.
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Grant Thornton’s operational advisory specialists can help you realise your full potential for growth.
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Grant Thornton can help with financial restructuring and turnaround projects, including managing stakeholders and developing platforms for growth.
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Transaction advisory
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Valuations
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From time to time, companies find themselves looking for temporary accounting resources. Often this is because of staff leaving, pressures at month-end and quarter-end, or specific short-term projects the company is undertaking.
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Strategy & Business Model
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Process Optimisation & Finance Transformation
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With experts working in more than 130 countries, Grant Thornton can help you navigate complex tax laws across multiple jurisdictions.
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Licensing and incentives application services
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If your company operates in more than one country, transfer pricing affects you. Grant Thornton’s experts can help you manage this complex and critical area.
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Employing foreign people in Australia, or sending Australian people offshore, both add complexity to your tax obligations and benefits – and we can guide you through them.
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Business Process Outsourcing
Companies, large and small, need to focus on core activities. Still, non-core activities are important, and they need to be leaner and more efficient than most companies can make them sustainably. For Grant Thornton, your non-core activities are our core business. Grant Thornton’s experienced outsourcing team helps companies ensure resilience, improve performance, manage costs, and enhance agility in resourcing and skills. Who better to do this than an organisation with 73,000 accountants? At Grant Thornton we recognise that that outsourcing your F&A functions is a strategic decision and an extension of your brand. This means we take your business as seriously as we take our own.
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We provide practical digital transformation solutions anchored in business issues and opportunities. Our approach is not from technology but from business. We are particularly adept at assessing and implementing fast and iterative digital interventions which can drive high value in low complex environments. Using digital solutions, we help clients create new business value, drive efficiencies in existing processes and prepare for strategic events like mergers. We implement solutions to refresh value and create sustainable change. Our solutions help clients drive better and more insightful decisions through analytics, automate processes and make the most of artificial intelligence and machine learning. Wherever possible we will leverage your existing technologies as our interest is in solving your business problems – not in selling you more software and hardware.
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Technical Accounting Solutions
The finance function is an essential part of the organisation and chief financial officer (CFO) being the leader has the responsibility to ensure financial discipline, compliance, and internal controls. As the finance function is critical in every phase of a company’s growth, the CFO role also demands attention in defining business strategy, mitigating risks, and mentoring the leadership. We offer technical accounting services to finance leaders to help them navigate complex financial and regulatory environments, such as financial reporting and accounting standards, managing compliance requirements, and event-based accounting such as dissolutions, mergers and acquisitions.
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Accounting Services
Whether you are a local Thai company or a multinational company with a branch or head office in Thailand you are obliged to keep accounts and arrange for a qualified bookkeeper to keep and prepare accounts in accordance with accounting standards. This can be time consuming and even a little dauting making sure you conform with all the regulatory requirements in Thailand and using Thai language. We offer you complete peace of mind by looking after all your statutory accounting requirements. You will have a single point of contact to work with in our team who will be responsible for your accounts – no matter small or large. We also have one of the largest teams of Xero Certified Advisors in Thailand ensuring your accounts are maintained in a cloud-based system that you have access to too.
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Staff Augmentation
We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
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Payroll Services
More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department. At Grant Thornton employees can gain access to their salary information and statutory filings through a specialised App on their phone. This cuts down dramatically on requests to HR for information by the employees and increases employee satisfaction. We also have an optional leave approval app too if required.
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IBR Optimism of Thailand Mid-Market Leaders Suggests Potential Underestimation of Challenges Ahead: International Business Report, Q1 2024Bangkok, Thailand, April 2024 — The Grant Thornton International Business Report (IBR) for Q1 2024 unveils a strikingly optimistic outlook among Thailand's mid-market business leaders, juxtaposed with the looming challenges that will shape the nation's economic future. With a Business Health Index score of 13.5, Thailand outperforms its ASEAN, Asia-Pacific, and global counterparts, signaling a robust confidence that may overshadow critical issues such as demographic changes, skills shortages, and the necessity for digital advancement.
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Workshop Corporate Strategy and Company Health Check WorkshopThroughout this workshop, we will delve into the life cycle of companies, examining the stages of growth, maturity, and adaptation. Our focus will extend to the current business environment, where your Company stands today, and how our evolving strategy aligns with the ever-changing market dynamics.
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Tax and Legal update 1/2024 Introducing the New “Easy E-Receipt” Tax scheme with up to THB 50,000 in Tax DeductionsThe Revenue Department has introduced the latest tax scheme, the “Easy E-Receipt”, formerly known as “Shop Dee Mee Kuen”. This scheme is designed to offer individuals tax deductions in 2024.
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TAX AND LEGAL Complying with the PDPA – A Balancing ActOrganisations must be aware of the circumstances in which they are allowed to collect data to comply with Thailand’s Personal Data Protection Act.
Thailand Businesses Lead the World in Business Health
Bangkok, January 2023 — Grant Thornton’s latest International Business Report (IBR) shows that Thailand’s business health is at its highest point since 2017.
Grant Thornton released their International Business Report this month, showing that the business health of the Thai mid-market has been at its highest point since 2017. In the second half of 2022, Thailand’s business health improved by 3.8 percentage points over H1 2022, with the index reaching 8.8 – marking the highest point in five years and exceeding regional and global averages for the first time since 2017. In contrast, ASEAN business leaders are more cautious, while Asia Pacific and Global business leaders remain bearish.
Ian Pascoe, CEO and Managing Partner at Grant Thornton in Thailand, said this on the findings: “Business leaders are better prepared after having gone through 3 years of unprecedented economic turbulence as Thailand emerges from the pandemic. Our business survey indicates Thai businesses share a positive sentiment in their outlook for 2023 and are more positive about the effects of the external factors on their business.”
We can determine business health by combining the overall economic outlook with the sentiment on restrictions. The three major economic outlook indicators of general economic optimism, business conditions and investment intentions declined by 2.1 percentage points, 0.5pp, and 3.4pp respectively, in the second half of 2022. Improving sentiment on restrictions has significantly bolstered Thailand’s business health index. Business concern over demand constraints dropped by 9.6 percentage points from H1 2022, while worries over supply constraints fell by 7.4pp.
Despite ongoing challenges of inflation, high energy prices, and cultural phenomena such as the Great Resignation, businesses in Thailand remains more positive in their outlook as compared to the past 5 years, indicating that businesses have adapted and built resilience into their operations in preparation for 2023. In Thailand only 49% of survey respondents across the region listed economic uncertainty as a major constraint, an improvement of 18pp from the second half of 2021.
Businesses remain cautious when it comes to fiscal expenditures and investments. Just 36% of Thailand’s mid-market companies indicated that they would increase their headcount in 2023. The availability of skilled personnel is certainly not a limiting factor, at least currently. Only 26% of respondents in Thailand said talent scarcity was a significant issue, compared to 37% of respondents in ASEAN and 57% globally.
Despite encouraging signs of recovery, companies across Thailand are planning only modest investments in information technology (49%; down 12pp from H1 2022), plant and machinery (39%; down 5pp from H1 2022), and personnel (36%, as mentioned above; down 12pp from H1 2022).
Tanva Mahitivanichcha, Partner at Grant Thornton, commented, “these results indicate that business leaders in Thailand are planning to invest cautiously, at least in the near term. The challenges of inflation, energy prices, and interest rates remain. However, economic uncertainty dropping by 12pp since the first half of 2022 and nearly 20pp compared to the second half of 2022 indicates the nation’s resilience and ability to adapt to the post-covid environment. As Thailand continues to re-open its tourism sector, business health will continue trending upwards.”
Notes to editors:
The Grant Thornton International Business Report (IBR) is the world’s leading survey which provides vital insight into the health of the global mid-market. These results for H2 2022 reflect the views of nearly 5,000 mid-market companies across 30+ countries interviewed in November and December of this year. In Thailand, there were 102 respondents from companies with a headcount between 50-500.
About Grant Thornton in Thailand
Grant Thornton (Thailand) is a leading advisory firm with more than 270 experts who provide professional business consultancy on audit and assurance, tax and legal, advisory, business process solutions, talent acquisition management and other services enhancing our clients’ success. We provide integrated knowledge and skills, including the linkage and access to our global Grant Thornton network. We focus on our clients’ goals and achievements, including value added services, good relationships and teams, marking Grant Thornton as the leading consultancy firm for true business growth. For further information, please visit www.grantthornton.co.th
For More information please contact K. Supatchara Sangsuan (Kame) Tel. 0819244605 Email: Supatchara.sangsuan@th.gt.com