Audit

Statutory audit of tradingcompaniesand cooperatives

In its § 20 the Law on Accounting  deliminates the accounting entities the duty of which is to verify the financial statement by the auditor. We offer the posibility to elaborate the so called obligatory audit of the financial statement, especially to these particular accounting entities.

We prefer the so called  continuous audit which always proceeds in several stages. The stage of the continuous audit follows the introductory stage when the future proceeding is determined and agreed upon. Within the frame of this stage ( 2 or  3 visits usually whithin the course of the accounting period) the reliability of the internal controlling system, the correctness of accounting methods applied are verified as well as their conformity with the in-house directives. In this stage an adequate check-up of the process of stocktaking is carried out. Continuous advisory services (accounting, taxation, legal,…) resulting in optimization of all above mentioned processes are rendered at the same time, too. Each visit within the frame of the continuous stage of the audit is described in the final written report. In this report the Client will be notified of all found insufficiencies and, at the same time, we will propose their solution. Now the Client has still enough time  to carry out the respective corrections. Final stage of the audit will follow now (1 to 2 visits will follow usually after the end of the accounting period). Its aim is to verify the financial statements  and elaboration of the auditor´s report. It is verified, within the frame of this stage, whether the accounting statements give a true and honest image about the property, liabilities, net assets and economical result of the accounting entity. We verify whether the financial statements were set up in the conformity with the valid legal standards. Verification of the data stated in the annual report and in the report on relations may represent a part of it. The final stage is terminated by the auditor´s final report. If necessary, it may be complemented with the auditor´s letter including the proposals how to remove the insufficiencies, if any.

We are able to realize eventhe one-time obligatory audit (after the end of the accounting period usually).

For more information needed, do not hesitate to contact us.

Facultative audit for trading companies and cooperatives

We offer the posibility to elaborate the so called facultative (optional?) audit. In some cases such audit may be required from the side of the banks, creditors and other institutions. It is quite often required by the owners to get higher certainty about the correctness of the  accounting office work.

The form of the elaboration of the audit is coinciding with that for the case of the so called statutory audit described above./SKOK NA DRUHÝ ODSTAVEC STATUTÁRNÍHO AUDITU/We prefer again the so called continuous audit.

We are able to elaborate even the so called one-time audit, if required.

For more information needed, do not hesitate to contact us.

Check-up of of the economical activity of towns and villages, audit of the non-profit sector

Within the frame of an audit of the non-profit sector we carry out the inspection and the verification of drawing financial means provided by the establisher  and verification of the economical activity and the financial statement of the following subjects, especially: 

  • State subsidized organizations
  • Subsidized organizations established in the regional self-administration units
  • Regional self-administration units
  • Foundations, Foundation funds
  • Charitable trusts

Verification of the economical activity and financial statement may be performed in two forms:

We prefer the continuous form. Within the frame of its introductory stage the future process of the works is determined. Within the frame of the continuous stage (during the course of the accounting period) a few visits are realized ( 2 or 3 usually). Then the Client

has still enough time to carry out some corrections, if any  At the end of each visit a written report is elaborated. In this report the Client is notified of found insufficiencies and at the same time he is proposed to carry out the respective corrections. The final stage follows after the terminaton of the accounting period the result of which is the auditor´s report.

We are able to perform even the one-time audit, if necessary, which is ususally performed after the end of the accounting period.

For more information needed, do not hesitate to contact us.

Audit of the projects

 Within the frame of this audit we aim at the verification of drawing financial means for the campaigns that are financed from the means of the respective Ministries of the Czech Republic, the Europian Union or other grantors. The main stress is put on observing the regulations of drawing financial means, continuous verification of this drawing, correctness and confidence of the accounting presentation.

For more information needed, do not hesitate to contact us.