Recent Revisions to TFRS for NPAEs (2022)

Explore the 2022 Revisions to Thai Financial Reporting Standards for Non-Publicly Accountable Entities (TFRS for NPAEs), gain insights from Mazars' expert analysis and learn how to navigate the evolving landscape of accounting standards in Thailand.

Accounting standards are essential for ensuring the reliability, transparency, and consistency of financial reporting. They provide a common framework for businesses to measure and report on their financial performance and position. As the business landscape evolves, accounting standards must be updated to reflect new developments and challenges.

The Thai Financial Reporting Standards for Non-Publicly Accountable Entities (TFRS for NPAEs) have been in effect in Thailand since 2011. Since then, the Federation of Accounting Professions (TFAC) has issued multiple notifications to revise the TFRS for NPAEs in response to the changing business environment.

The most recent revisions to the TFRS for NPAEs were issued in 2022 and took effect on 1 January 2023. These revisions were made to improve the relevance, reliability, and comparability of financial reporting for non-publicly accountable entities.

Mazars has analysed the revised TFRS for NPAEs and set out their key implications for financial reporting, disclosure, and business processes. Click below to learn more about the impact they may have on your business: