A Study of Law Violations and Punishments of Accounting and Taxation Frauds: Case Studies of Thai Listed Companies

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Chanida Yarana
Pawinee Praithong


This research aims to examine current patterns of accounting and taxation frauds of Thai listed companies, to investigate punishments of accounting and taxation frauds, and to study current problems of gap in the law. The results reveal that mostly listed companies in Thailand conducted financial statement frauds which occurred as the main pattern of accounting and taxation frauds of other countries worldwide. The punishments of fraud in accordance with the Thai securities and exchange Act was appropriated since the penalties were higher than those of the Thai Penal Code. The results show that there is no gap in the fraud law in Thailand. However, the law enforcement was ineffective due to the belated evidence investigations. The main reason is that there were complex procedures and multiple organizations regarding fraud investigations in Thailand. In addition, there was no specialist in fraud investigation. This research suggests that the Security and Exchange Commission of Thailand should be emphasized more empowerment to detect and enforce fraud misconducts. Also, there should be an independent organization such as forensic accounting department to directly detect and investigate accounting and taxation frauds in Thailand.


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Yarana, Chanida, and Pawinee Praithong. “A Study of Law Violations and Punishments of Accounting and Taxation Frauds: Case Studies of Thai Listed Companies”. Naresuan University Law Journal 12, no. 2 (December 25, 2019): 143-165. Accessed March 9, 2021. https://so04.tci-thaijo.org/index.php/lawnujournal/article/view/215262.
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