Thai government monitors audit firms

BANGKOK, December 2 (TNA) - Audit firms in several Thai holidaying cities are facing suspicion of violating Thai business law, which generally prohibits business operation by foreigners. Banyong Limprayoonwong, director-general of Thailand’s Business Development Department, said a probe had been commissioned to examine firms in Chon Buri province, Pattaya, Koh Samui and Phuket, where a number of unregistered foreign firms had been reported. Recently, Deputy Commerce Minister Nattawut Saikua also called for an investigation into irregularities on foreign ownership of hotels, rice mills and farmland in the kingdom. Violation of the Foreign Business Act could result in fines of up to one million baht. Currently, more than 20,000 foreign-run businesses are registered with the Business Development Department, over 900 of which are set up in resort areas. (TNA)