Dear Pi A,
Pleasure to meet you. I represent LGT Venture Philanthropy and, as part of our ongoing due diligence, I would like to ask a few questions about HTO's accounting systems and processes.
Could you please share with us some information on the following:
1) What accounting systems (e.g. software packages) are used?
2) What set of accounting standards (e.g. Thai GAAP, IFRS) are applied?
3) Please discuss any specific cost accounting policies (e.g. variable vs. fixed cost allocation, depreciation policy, etc.)
4) How are annual budgets prepared and monitored?
5) How are orders, sales, and shipments monitored?
6) How are the financial statements prepared and audited?
7) Please describe the general keeping of records, filing, and archives
8) Which banks is HTO working with and what banking services are being used?
If any of the above systems or processes are not already in place, please share your thoughts on how you plan to incorporate them.
Look forward to your feedback, and we could also discuss the above over a Skype call if you prefer.
Thanks and regards,
Ivan