Act No. 169 / 2004 Coll.
Act amending Act No. 254 / 2000 Coll., on Auditors and amending Act No. 165 / 1998 Coll., as amended by Act No. 209 / 2002 Coll.
Valid
Law
Effective from 01.05.2004
Text versions:
01.05.2004
16.04.2004
169
THE LAW
of 25 March 2004
amending Act No. 254 / 2000 Coll., on Auditors and amending Act No. 165 / 1998 Coll., as amended by Act No. 209 / 2002 Coll.
Parliament has decided on this law of the Czech Republic:
Amendment of the Auditor Act
Act No. 254 / 2000 Coll., on auditors and amending Act No. 165 / 1998 Coll., as amended by Act No. 209 / 2002 Coll., is amended as follows:
1. In Article 1, the words "in accordance with the law of the European Communities (1) 'shall be inserted after the words" amended'.
footnote 1 is replaced by the following:
"(1) Council Directive 89 / 48 / EEC of 21 December 1988 on a general system for the recognition of higher education diplomas awarded on completion of at least three years of vocational education and training. Council Directive (EEC) 92 / 51 of 18 June 1992 on the second general system for the recognition of vocational training supplementing Directive 89 / 48 / EEC (92 / 51 / EEC). Treaty establishing the European Community of 25 March 1957, as amended by the Single European Act, the Maastricht Treaty, the Treaty of Amsterdam and the Treaty of Nice. Council Directive 78 / 660 / EEC, as amended by Directive 2003 / 51 / EC of the European Parliament and of the Council of 18 June 2003. Council Directive 84 / 253 / EEC on the approval of persons responsible for carrying out statutory audits of accounting documents. '
footnote (1) shall be renumbered footnote (1a), including the reference to that footnote.
2. Paragraph 2 (3) reads as follows:
"(3) The auditor shall be the one who is entered in the list of auditors referred to in § 3 (1) and (2) or registered in the list of auditors referred to in § 3 (7)."
3. in Article 3 (1) (a), the words "accredited bachelor or" shall be inserted after the words "under."
4. Paragraph 3 (2) reads as follows:
"(2) The Chamber also writes in the list of auditors
(a) a citizen of a State other than a Member State of the European Union if he proves that he is entitled to provide audit services in a State with which the Czech Republic has concluded an international agreement which obliges him to provide the auditors of that State with access to the provision of audit services; and
(b) an established auditor under the conditions laid down in Sections 13c and 13d. ';
5. In Article 3 (5), the part of the first sentence after the semicolon, including the semicolon, is deleted.
6. In the second sentence of Article 3 (6), the word "certified 'shall be deleted and the words" unless otherwise stipulated in an international treaty binding the Czech Republic' shall be replaced by "in case of doubt, the Chamber shall be entitled to require an officially certified translation '.
7. In Article 3, the following paragraph 7 is added:
"(7) The Chamber shall register the visiting auditor in the list of auditors under the conditions set out in Sections 13e and 13f. '.
8. Article 5, including the title and footnote 5a, reads:
Legal effects of registration in the list of auditors, registration in the list of auditors or entry in the list of audit firms
(1) The entry in the list of auditors or the list of audit firms authorises the provision of audit services from the date indicated on the registration certificate.
(2) Registration in the list of auditors authorises the provision of audit services from the date indicated on the registration certificate.
(3) The decision to which the Chamber rejected the application for registration in the list of auditors or in the list of audit firms or to which the Chamber refused registration in the list of auditors may be brought to the courts. (a)
(5a) Act No. 150 / 2002 Coll., Administrative Rules of Procedure, as amended. '
9. in Article 6 (1) (a), the word "residence" is replaced by "address of the place of permanent residence."
10. at the end of point (a) of Article 6 (1), the words "if allocated," shall be added.
11. in Article 6 (1) (b), the words "audit differences tests" are replaced by the words "separate audit tests";
12. In Article 6, at the end of paragraph 1, the dot is replaced by a comma and the following point (f) is added:
"(f) the date of registration of the visiting auditor and the registration number.";
13. in Article 7 (1), the words "residence" in (c) and (d) are replaced by the words "address of the place of permanent residence."
14. In Section 8, the words "audit difference test 'are replaced by the words" separate audit test'.
15. Paragraph 8 (6) reads:
"(6) The division audit examination shall be divided into part of the written and oral part and shall cover the areas defined in points (b) and (c) of paragraph 2, the knowledge of which is not demonstrated by evidence of compliance with the qualification assumptions (§ 13b); the written part of the test is divided into a maximum of 4 partial written tests. The oral part of the difference audit test may be completed at the earliest after the partial written examination. Where evidence of compliance with the qualification assumptions is demonstrated by knowledge of all the areas defined in points (b) and (c) of paragraph 2, the difference audit test shall be considered to be composite. ';
16. in Article 8 (7), the words "audit differences test" are replaced by the words "differential audit test";
17. in the first sentence of Paragraph 8 (9), the words "or the difference audit test" are deleted and in the first and second sentences the words "or the different audit tests" are deleted.
18. in Paragraph 8 (10), the words "or the different audit tests" and the words "or the oral audit examination" shall be deleted.
19. in Paragraph 8 (11), the words "audit difference test" are replaced by the words "differential audit test";
20. In Paragraph 9 (3), first sentence, the word "audit" shall be deleted.
21. In the first sentence of Paragraph 9 (4), the word "audit" shall be deleted and in the last sentence the words "and no appeal may be brought against it" shall be deleted.
22. In Article 9, the following paragraph 5 is added:
"(5) An action may be brought before a court against a decision of the Chamber under paragraphs 2 and 4. 5a) '.
23.
Test schedule
The test schedule setting out the details of the application for the audit examination and the difference audit examination, the procedure for assessing the qualification assumptions referred to in Sections 8 (6), 13d and 13f, the determination of the number and content of the partial written tests, the amount of the fee for the application for the partial written audit examinations and oral audit tests, the course and manner of evaluation of the audit examination and the difference audit examination and non-participation procedure shall be issued by the Ministry, after consultation with the Chamber. ';
24. in Paragraph 11 (4), the comma shall be replaced by a dot at the end of point (e) and point (f) shall be deleted;
25. Paragraph 11 (6) reads:
"(6) The decision taken by the Chamber pursuant to paragraph 4 to remove an auditor or an audit firm from the list of auditors or from the list of audit firms may be brought before a court. 5a) '.
26. In Article 11, the following paragraph 7 is added:
"(7) The Chamber shall inform the competent authority of another Member State in which the auditor or audit firm provides audit services of the removal from the list referred to in paragraph 2 (c), (d) or (e) or paragraph 4 (a), (b), (c) or (e)."
27th Paragraph 12 (7) reads:
"(7) The decision by the Chamber to suspend the authorisation to provide audit services to an auditor or an audit firm may be brought to the courts. 5a) '.
28. In Article 12 (10), the words "in the justified case 'shall be inserted after the words" the Chamber shall suspend him'.
29. In Article 12, the following paragraph 11 is added:
"(11) The competent authority of another Member State in which the auditor or audit firm provides the audit services shall inform the competent authority of another Member State of the suspension of the authorisation to provide the audit services referred to in paragraph 2 and of the termination of that suspension. ';
30. After Paragraph 13, the following Sections 13a to 13f are inserted:
Provision of audit services by nationals of other Member States of the European Union
(1) Audiovisual services may also be provided by a national of a Member State of the European Union (hereinafter referred to as "Member State") in the Czech Republic under the conditions laid down by this Act.
(a) consistently as an established auditor who has been included by the Chamber in the list of auditors and who has made a promise to the President or Vice-President of the Chamber; or
(b) temporarily or occasionally as a visiting auditor registered by the Chamber in the list of auditors.
(2) The activity of an established auditor or visiting auditor in the Czech Republic is governed by the legislation of the Czech Republic.
(3) Visiting auditors shall also be subject to professional regulations and audit directives by analogy.
(4) The established auditor shall provide documents issued in connection with the provision of audit services by hand signature and registration number of the list of auditors and the visiting auditor shall provide documents issued in connection with the provision of audit services by hand signature and registration certificate number in the list of auditors.
Assessment of qualification assumptions
(1) In order to allow access to the provision of audit services, diplomas, certificates and other evidence of professional qualifications as well as professional practice are recognised in the Czech Republic in accordance with the law of the European Community1.
(2) The recognition body shall be the Chamber, which shall assess compliance with the qualification assumptions, determine the content of the difference test and carry out the additional actions necessary for the proper identification of the facts relevant for the recognition of the qualification assumptions, entry in the list of auditors or registration in the list of auditors.
(3) The Chamber is the body which issues documents to auditors for the purpose of demonstrating their qualifications in other Member States.
Seated auditor
(1) A national of a Member State may request recognition of professional qualifications and entry on the list of auditors where:
(a) has obtained professional qualifications in the provision of audit services in another Member State where that State requires professional qualifications for the provision of such services; or
(b) provide audit services in another State for two years during the immediately preceding 10 years unless that State requires professional qualifications for the provision of such services.
(2) The application shall be submitted in the Czech language and shall include the name and surname of the auditor, the birth number and, if not assigned, the date of birth, the address of the place of permanent residence and the place of business, including all States in which he provides the audit services, and the duration of their provision, the business firm, if different from the applicant's name and surname, the identification number, if assigned, nationality, method of providing the audit services and the address for delivery in the Czech Republic.
(3) The applicant submits at the same time as the application
(a) the applicant's identity card;
(b) evidence of professional qualifications as referred to in paragraph 1 (a) or evidence of professional experience as referred to in paragraph 1 (b);
(c) proof of payment of a fee of CZK 3,000; and
(d) proof of insurance in the event of liability for damage caused in connection with the provision of audit services concluded in such a way that the amount of the insurance amounts is proportional to the possible damage that can reasonably be expected.
(4) The documents referred to in paragraph 3 shall be presented in the original, certified copy or certified copy. 4) Foreign language documents shall also be translated into the Czech language; in case of doubt, the Chamber shall be entitled to require an officially certified translation.
(5) The fees referred to in paragraph 3 (c) shall constitute the income of the Chamber.
Decision on the application
(1) The applicant who has submitted an application pursuant to Article 13c (2) has demonstrated compliance with the qualification requirements by submitting the documents referred to in Article 13c (3) and having passed the differences audit test, the Chamber shall enter the Chamber without delay on the list of auditors and issue the applicant with a certificate of registration.
(2) Where the Chamber has reasonable doubts as to the authenticity of the documents referred to in Article 13c (3), the competent authority of the Member State in which the documents were issued shall request confirmation of their authenticity.
(3) If the applicant fails to properly demonstrate his or her qualifications, even within a specified replacement period, which may not be less than 60 days, or the applicant has not submitted a separate audit test, the Chamber shall decide on the refusal to enter the list of auditors; it shall inform the applicant of the reasons for the refusal and inform him of the right to appeal.
Visiting auditor
(1) A national of a Member State who fulfils one of the qualification requirements laid down in Article 13c (1) (a) or (b) and intends to provide audit services on a temporary or occasional basis in the territory of the Czech Republic is obliged to notify the Chamber of this fact.
(2) The notification shall be in the Czech language and shall contain:
(a) the name and surname of the auditor, the birth number and, if not assigned, the date of birth, the address of the permanent residence and the place of business, the business name, if different from the name and surname of the notifier, the identification number, if assigned, and nationality;
(b) the manner in which audit services are provided;
(c) the estimated duration of the provision of audit services in the Czech Republic; and
(d) the address for service in the Czech Republic.
(3) The notifier shall submit at the same time as the notification:
(a) the identity card of the notifier or, where appropriate, the person authorised to act on its behalf;
(b) evidence of professional qualifications as referred to in Article 13c (1) (a) or evidence of professional experience as referred to in Article 13c (1) (b);
(c) proof that the notifier carries out the activity in question in another Member State in accordance with its legislation;
d) proof of payment of a fee of CZK 3,000; and
(e) proof of insurance in the event of liability for damage caused in connection with the provision of audit services concluded so that the amount of the insurance amounts is proportional to the expected duration of the provision of audit services in the Czech Republic and to possible damage that can reasonably be expected.
(4) The documents referred to in paragraph 3 shall be presented in the original, certified copy or certified copy. 4) Foreign language documents shall also be translated into the Czech language; in case of doubt, the Chamber shall be entitled to require an officially certified translation.
(5) The fees referred to in paragraph 3 (d) are the income of the Chamber.
Registration certificate
(1) The notifier who has submitted the notification referred to in Article 13e (2) has demonstrated compliance with the qualification requirements by submitting the documents referred to in Article 13e (3), the Chamber shall register without delay in the list of auditors and issue the notifier with a certificate of registration indicating its period of validity.
(2) Where the Chamber has reasonable doubts as to the authenticity of the documents referred to in Article 13e (3), the competent authority of the Member State in which the documents were issued shall request confirmation of their authenticity.
(3) If the notifier fails to properly demonstrate its qualification assumptions, even within a specified replacement period which may not be less than 60 days, the Chamber shall decide to refuse registration in the list of auditors; notify the notifier of the reasons for the refusal and inform him of the right to appeal. ';
Article 31 (14) reads:
(1) The auditor is obliged to act honestly and conscientiously when providing audit services, to comply with audit directives and professional regulations, in particular the Code of Ethics.
(2) The auditor is not entitled to order changes and corrections to the data reported by the entity.
(3) When carrying out the audit, the auditor shall verify that:
(a) the financial statements or consolidated financial statements give a true and fair view of the entity's subject matter and financial position and comply with legal or International Accounting Standards (1a); and
(b) the annual report shall be consistent with the financial statements or the consolidated annual report shall be consistent with the consolidated financial statements.
(4) The audit report shall contain:
(a) the introduction in which the auditor indicates:
1. the name and surname, the address of the place of permanent residence and the place of business, if different from the place of permanent residence for entities that are a natural person or a business name or registered office for entities that are a legal person, the identification number if assigned to the entity, the legal form of the entity and the object of the business or other activity, or the purpose for which it was established; and
2. the identification of the accounts or consolidated accounts of the entities referred to in point 1, including an indication of the balance sheet date or other time at which the accounts or consolidated accounts are drawn up and the identification of the financial year for which they are drawn up;
(b) a description of the scope of the audit carried out, in which the auditor shall indicate:
1. in accordance with which audit directives of the Comoros or International Standards of Auditing (1a) are audited;
2. How is the verification of the completeness and weight of the information shown in the financial statements or consolidated financial statements and the assessment of the accounting methods used by the entity; and
3. an assessment of the reporting capacity of the accounts and the annual report or consolidated accounts and the consolidated annual report;
(c) the opinion of the auditor in which the auditor gives an opinion as to whether the financial statements or consolidated financial statements comply with the legal or International Accounting Standards (1a) give a true and fair view of the entity's subject matter and financial situation; the auditor presents
1. an unqualified statement if, according to the auditor, the financial statements or consolidated financial statements in accordance with legal or International Accounting Standards (1a) gives in all material respects a true and fair view of the entity's subject matter and financial situation and if all relevant facts, including any changes to accounting methods, have been adequately described in the notes to the financial statements or consolidated financial statements,
2. a statement subject to the condition that, according to the auditor, the scope of the audit has been limited or there is doubt as to the correctness or suitability of the accounting methods used or the adequacy of the data reported in the financial statements or consolidated financial statements or the adequacy of the data described in the annual report or consolidated annual report, thereby significantly affecting the facts assessed in accordance with point 1, but no grounds for refusal or negative statement are given;
3. Refusal of a statement where, according to the auditor, the audit scope has been reduced in such a substantial way that the auditor is unable to issue a statement on the accounts because he is unable to obtain the information necessary to assess the facts referred to in point 1; or
4. a negative statement where, according to the auditor, there are doubts as to the correctness or suitability of the accounting methods used or the adequacy of the data reported in the financial statements or consolidated financial statements or the adequacy of the data described in the annual report or consolidated annual report, such that, subject to the seriousness of the findings, the opinion would be disproportionately misleading in relation to the facts assessed under point 1,
(d) a description of all the relevant facts for the statement referred to in points (c) (2) to (4), including a quantification of their possible effects on the entity's financial result and equity, where such quantification is possible;
(e) a description of all the facts that are not included in the statement referred to in subparagraph (c) and are considered appropriate by the auditor, in particular significant uncertainties and factors that have a significant influence on the entity's assumption of an unlimited duration due to the entity's financial position;
(f) an opinion on the consistency of the annual report with the financial statements or the consolidated annual report with the consolidated financial statements.
(5) The auditor's report shall be drawn up in writing and shall include its name, surname and number of the certificate of entry in the list of auditors or registration in the list of auditors, date of preparation and signature. The audit firm shall indicate in the audit report the business firm, the registered office, the number of the certificate of entry in the list of audit firms and the names and surnames of the auditors who have drawn up the report on behalf of the audit firm, the number of their certificate of entry in the list of auditors or registration in the list of auditors, their signatures and the date of preparation.
(6) The auditor's report shall be discussed by the auditor or the audit firm with both the statutory body and the supervisory body of the entity; If it is a municipality or a city part of the capital of Prague with the mayor, at the statutory cities and capital of Prague with the mayor, at the county with the captain, and with the financial committee of the council.
(7) The auditor or audit firm shall keep a file containing:
(a) copies of documents showing all the relevant facts identified in the activity, including the relevant facts, which occurred between the balance sheet date and the date of processing of the audit report;
(b) the audit contract, the audit plan and the audit programme, the auditor's report, the financial statements or the consolidated accounts, the annual report or the consolidated annual report and other documents documenting the audit process. Only persons authorised by law or under the authority of the Chamber to supervise the proper performance of audit services shall have the right to inspect the file, a court and other law enforcement authorities, in so far as the criminal proceedings of the auditor are concerned.
(8) The file shall be kept for 10 years from the date of completion of the contract.
(9) For other audit services, paragraph 6 shall apply mutatis mutandis. ';
32. in Article 26 (7), the words "residence" in (a) and (b) are replaced by the words "address of the place of permanent residence."
33. In the second sentence of Article 31 (1), the words "entry in the list of auditors' shall be inserted after the words" auditors'.
34. in Article 32 (3) (h), the words "or the registration numbers in the list of auditors" shall be inserted after the words "in the relevant list."
35. In Article 32, at the end of paragraph 3, the dot is replaced by a comma and the following point (n) is added:
"(n) establish from among its members a three-member commission which will assess the qualification assumptions under § 8 (6), § 13d and 13f. ';
36. Paragraph 36 (2), including footnote 10, reads:
"(2) If the Minister of Finance considers that certain provisions of the Chamber's professional law are contrary to the law, he shall be entitled to file an application for annulment by the court within 2 months of its adoption.
10) § 4 (1) (c) of Act No. 150 / 2002 Coll. '.
37. in Paragraph 40 (c), the words "audit difference test" are replaced by the words "separate audit test";
Efficacy
This Act shall take effect on the date of the entry into force of the Treaty of Accession of the Czech Republic to the European Union.
Zaoralek v. r.
Klaus v. r.
Spindles v. r.
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Regulation Information
| Citation | Act No. 169 / 2004 Coll., amending Act No. 254 / 2000 Coll., on Auditors and amending Act No. 165 / 1998 Coll., as amended by Act No. 209 / 2002 Coll. |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 16.04.2004 |
|---|---|
| Effective from | 01.05.2004 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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