Financial Systems and Governance

Chinese businesses expanding into Thailand commonly face three finance challenges: policies and processes carried over from China that do not meet Thai statutory requirements; major transactions undertaken without a prior tax opinion, with unfavorable tax and structural outcomes discovered only afterward; and group headquarters lacking effective internal audit oversight of overseas entities.

Z&X works in an advisory capacity to help you build your policies, processes, internal controls and reporting framework, while transferring the methodology to your own finance team so that the capability is sustained within your organization.

· Finance function set-up advisory: Advisory support to establish accounting, internal control and reporting frameworks, and to streamline business and accounting processes.

· Specialist tax opinions: Opinions on project investments, tax treatment, cross-border transactions and structuring, and tax compliance for major matters.

· Group internal audit and finance optimization: Tax compliance audits, pre-audit reviews of financial statements, major project audits and exit audits of senior executives.

· Companies in the set-up phase: Need to build a finance function that meets Thai requirements from scratch.

· Companies in rapid growth: Existing policies and processes can no longer support business growth.

· Companies facing major decisions: Need specialist tax opinions on investment, structuring or cross-border transactions.

· Chinese groups: Need internal audit and financial governance mechanisms over their Thai entities.

· Kick-off and scoping (within 1 week of engagement): Confirm scope, issue a document request list and assemble the project team.

· Information gathering and fieldwork (1–3 weeks after documents are complete): Document review, interviews, on-site work (where required) and data collection.

· Analysis and working papers: Professional analysis and drafting of proposals and report working papers.

· Review and finalization (1–2 weeks after first draft): Partner review, independent review and sign-off by an equity partner, and finalization.

· Delivery and Q&A: Formal delivery, walkthrough of findings and follow-up Q&A within the agreed period.

Finance function set-up takes around 6–10 weeks and specialist tax opinions around 2–4 weeks, while internal audit timelines depend on scope. A Chinese-speaking project manager serves as your single point of contact, with communication and reporting in Chinese throughout.

· Finance function set-up: Finance policy and process manuals, chart of accounts and reporting templates, and an internal control matrix.

· Specialist tax opinions: Tax opinion letters on specific matters.

· Group internal audit: Internal audit plan, internal audit charter and internal audit reports.

This is a management advisory service. Your own finance team remains responsible for implementing the policies and processes, and internal audit services do not constitute a statutory audit or assurance opinion.

· How to design the authority arrangements for directors, authorised signatories and bank accounts for greater security?

· How can the Thai company connect with the Chinese headquarters that uses Kingdee or UFIDA accounting software?

· How can Thailand's audit report support the consolidated financial statements of the Chinese headquarters?

· What is the difference between Sino‑Thailand dual‑track fiscal and tax services and ordinary local bookkeeping agency services?

Want advice tailored to your company? Book a financial systems and governance consultation →

Articles from our Thailand Investment Guide related to this service:

· How to Build a Compliant Finance and Tax System After Registering a Company in Thailand

· Thailand Tax Compliance Guide: Key Points and Common Mistakes in Business Document Management

View all guide articles →