Section 14. The person having the duty to keep accounts must keep the accounts and the documents relevant thereto for a period of not less than five years from the date the accounts are closed, or until the delivery of the accounts and the documents under Section 17.
For the purpose of auditing accounts of any one category of business, the Director-General with the approval of the Minister, shall have the power to prescribe that the person having the duty to keep accounts keeps the accounts and the documents relevant thereto for more than five years but not exceeding seven years.
Section 15. Where the accounts or the documents relevant thereto are lost or damaged, the person having the duty to keep accounts shall notify the Chief Accounts Inspector or the Accounts Inspector of the loss or damage, in accordance with the rules and procedures prescribed by the Director-General, within fifteen days from the date of knowledge thereof, or the date such loss or damage ought to have been known.
Section 16. Where the Chief Accounts Inspector or the Accounts Inspector inspects that the accounts and the documents relevant thereto, which is material to the keeping of accounts are lost or damaged, or it appears that such accounts and documents are not being kept in a safe place, it shall be presumed that the person having the duty to keep accounts has an intention to damage, destroy, hide or render lost or useless such accounts or documents, except the person having the duty to keep accounts shall convincingly prove that a great care has been properly exercised according to the circumstances to prevent the accounts or the documents relevant thereto from being lost or damaged.
Section 17. Where the person having the duty to keep accounts ceases to engage in the business by a reason without a liquidation, he shall deliver the accounts and the documents relevant thereto to the Chief Accounts Inspector or the Accounts Inspector within ninety days from the date of cessation thereof. And the Chief Accounts Inspector or the Accounts Inspector shall keep the said accounts and documents for not less than five years.
Upon the request of the person having the duty to keep accounts, the Chief Accounts Inspector or the Accounts Inspector shall have the power to extend the delivering period of accounts and documents under paragraph one, however, the extension period in total must not exceed one hundred and eighty days from the date of cessation thereof.
Where the person having the duty to keep accounts has delivered the accounts as well as the documents relevant thereto incompletely and incorrectly, the Chief Accounts Inspector or the Accounts Inspector shall have the power to demand the person having the duty to keep accounts to deliver the accounts as well as the documents relevant thereto completely and correctly within a prescribed period.
Section 18. The financial statement, accounts, and documents received and kept by the Chief Accounts Inspector or the Accounts Inspector under Section 11 or Section 17, the stakeholder or the general public may inspect or may ask for a photocopy thereof by paying a fee as prescribed by the Director-General.
Chapter 3
Bookkeeper
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Section 19. The person having the duty to keep accounts must provide the bookkeeper possessing the qualifications prescribed by the Director-General under Section 7(6) to keep accounts under this Act, and shall have the power to control and supervise the bookkeeper to keep accounts accurately and correctly under this Act.
The person having the duty to keep accounts who is a natural person may be a bookkeeper for his own business.
Section 20. The bookkeeper must keep accounts in order to show results of the operation, financial status or changes in financial status of the person having the duty to keep accounts in accordance with the facts and accounting standards, including having correct and complete relevant documents used in the entry of accounts.
Section 21. The bookkeeper must enter particulars in the accounts, as follows:
(1) In the Thai language, or in a foreign language accompanied by the Thai language, or in accounting code provided the translation thereof in the Thai language.
(2) Written in ink, type-written, printed, or by any other methods provided the similar results.
Chapter 4 Examination
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Section 22. The Chief Accounts Inspector and the Accounts Inspector shall have the power to examine accounts and documents relevant thereto in compliance with this Act. In this respect, they shall have the power to enter the place of business or the place where the accounts and the documents relevant thereto are being kept of the person having the duty to keep accounts or the bookkeeper, or the place where the information of the said person is collected or processed, during office hours of such place.
Where it is reasonable to believe that there is a violation or a failure to comply with the legal provisions under this Act, the Chief Accounts Inspector or the Accounts Inspector shall have the power to enter the place under paragraph one to hold or attach accounts and documents relevant thereto between sunrise and sunset, or during office hours of such place. This is the case when it is reasonable to believe that, if it would be delay in obtaining a search warrant, the accounts, the documents relevant thereto, or other documents or evidence related to the said offences, should be removed, concealed, destroyed or altered from their original condition.
Section 23. In the performance under this Act, the Chief Accounts Inspector and the Accounts Inspector must show his identity card to the person concerned.
The identity card shall be in the form prescribed by the Director-General as notified in the Government Gazette.
Section 24. In the performance of the duty under this Act, the Chief Accounts Inspector and the Accounts Inspector shall have the power to issue a written order:
(1) to summon the person having the duty to keep accounts, the bookkeeper, or the persons concerned therewith to give statement relating to the bookkeeping or the keeping of the accounts and the documents relevant thereto;
(2) to require the person having the duty to keep accounts or the bookkeeper to send the accounts, the documents relevant thereto, or the accounting codes for examination.
The written order under paragraph one shall be sent by responding registered post or shall be delivered to the domicile or the residence or the place of business of the person having the duty to keep accounts, the bookkeeper or the person concerned. If no recipients are found at the domicile or the residence or the place of business of such person, it shall be sent to any sui juri person residing or working in the house or place of business apparently belonging to such recipient.
Where it cannot be sent by the methods under paragraph two, or the person having the duty to keep accounts, the bookkeeper, or the person concerned leave the kingdom, the said written order shall be clearly visibly posted at the address or the place of business of such person or the house where such person's name is in the house registration under the law governing the citizen registration, or brief statement may be advertised in a local newspaper.
Upon the compliance with the said foregoing procedures, it shall be deemed that such written order has been received.
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