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NPAEs Accounting Standard

NPAEs Accounting Standard is Accounting Standards for Non Publicly Accountable Entity
In Thailand, Federation of Accounting Professions (FAP) has known that over 90% of Thai business entities are small and medium size (SME), the enforcement to all entities to conform “International Financial Reporting Standard” (IFRS) which effected on January 1, 2011 is improper practice to SMEs business same IASB was concentrated on the said point that is why the “IFRS for SME” was issued. Therefore, FAP had decided that it’s essential to have Accounting Standards for Non Publicly Accountable Entity – NPAEs to relief and promote the non publicly entities in able to prepare and report correctness with the same standards.

NPAEs means entities which are not the following entities:

1. Entities having “Equity Instruments” or “Bonds” from special trading into public market (either Stock Exchange in Thailand or oversea or trading out of Stock Exchange including local market and provinces) or entity which submit or in process of submission of financial statements to Securities and Exchange Commission or other controlling sector for objective of trading into public market.
2. Entity which carry on in main business for controlling assets of many  groups of person outside such as financial institution, insurance company, securities company, mutual fund follow the related law.
3. Public Company Limited follows the law of public company limited.
4. Other entity as will be described later.

FAP and Committee of Controlling Profession had already approved the Accounting Standard for NPAEs on dated April 12, 2011 and announcement in the Government Gazeette on dated May 16, 2011.

You can download TFRS for NPAEs click here (Thai version).

 

For more information, please feel free to contact us:
Phone Nos.: +66 2 933 6121, +66 2 933 6122, +66 2 933 5601
(for call inside Thailand use 0 instead of +66)
Fax: +66 2 933 6120
Email: mgr@panwa.co.th
Please CC: to our alternate email: panwagroup@gmail.com