The board is awaiting clarification on the 2025 Social Security budget, which involves 4 billion baht in 'invisible' assets. Some discrepancies were found in the accounting figures. Sources within the Social Security board confirmed that the issue has been discussed and that explanations are expected at the board meeting on 19 May 2025 GMT+7.
Today, Ms. Rakchanok Srinok, a party-list MP from the Prachachon Party, reposted on her personal page: “Where did the Social Security money go? The Office of the Auditor General (OAG) was stunned after auditing the Social Security Office’s 2025 accounts and found nearly 4 billion baht in invisible assets, leading to a declaration of 'no opinion.'” The post has over 1,200 comments and has been shared by more than 2,000 people.
Information from the page “Experience from Brother Tom” shared by Ms. Rakchanok Srinok states: Where did the Social Security money go?! The Office of the Auditor General was shocked after auditing the Social Security Office’s 2025 accounts and found...
Every salaried worker and insured person must read this! A major national news story involves the money deducted monthly for our Social Security. Recently, the Office of the Auditor General (OAG) audited the 2025 financial statements of the Social Security Office (SSO). The outcome shocked the public accounting sector because the OAG issued the most severe statement of “no opinion.”
In auditor language, “no opinion” means “evidence is hard to find or missing, so it’s impossible to verify where the money is or whether the accounts are accurate!” (This had happened before during the 2024 audit.)
What happened to the money in the system?
Here is a simple summary of the two shocking figures.
1. Two sets of accounts show discrepancies of 382 million baht!
The OAG found that the accounting figures in the old form (E-Form-GL) and the new government system (New GFMIS Thai) did not match at all. When asset, liability, income, and expense items were reconciled, a difference of 382.7 million baht appeared.
Cause: Officials directly adjusted figures in the new system but did not update the old system. Worse, “no documentation was provided to explain the adjustments!”
2. “Invisible assets” worth 3.6 billion baht!
This is the most alarming point! The accounts list the SSO as owning land, buildings, equipment, and intangible assets totaling over 13 billion baht. But when the OAG requested the “physical inventory report” (annual asset count), only about 9.5 billion baht worth of assets were found.
This means over 3.6 billion baht in assets have figures that do not match physical reality. The SSO refused to reconcile the accounting records with actual assets, so the OAG could not determine whether these assets still exist, are usable, or should be written off. Additionally, depreciation adjustments of hundreds of millions baht were made without documentation for verification.
What warning does this send us? The OAG’s “no opinion” report acts as a red flag highlighting serious internal control weaknesses in this government agency. It fully reflects transparency risks, which could lead to the SSO receiving lower integrity assessment scores (ITA) from the National Anti-Corruption Commission and increased budget scrutiny from the Budget Bureau in the next funding cycle.
After the issue went viral on social media, the Thairath Online special news team contacted sources on the Social Security board. They said the matter has been discussed in the board and that the Social Security Office will provide a clear explanation during the board meeting on 19 May 2025 GMT+7. Both employee and employer board members have continuously sought clarification regarding asset details.
Since interpretations of asset valuation may vary, employer board members with expertise in standardized asset accounting have pushed to hire private accountants with specialized knowledge to establish consistent standards and provide the clearest possible understanding.
The Office of the Auditor General’s audit of the Social Security Office’s 2025 financial statements, which resulted in a no opinion report, is considered a positive development as it will prompt a comprehensive review and overhaul of the SSO’s asset accounting system.
When asked how the Social Security board would proceed after the Social Security Office’s explanation on 19 May, the source said they will first assess the information provided. Employer board members with expertise will conduct a thorough review and the board will evaluate how to proceed.
Meanwhile, the reporter contacted the National Anti-Corruption Commission regarding the possibility that the SSO’s ITA score might be lowered due to this case. The commission is currently awaiting further explanations.
Thairath Online will continue to follow this issue closely to provide comprehensive and fair coverage for all parties involved.