Act No. 254 / 2000 Coll.
Act on Auditors and Amendment of Act No. 165 / 1998 Coll.
Valid
Law
Effective from 01.01.2001
Contents
ČÁST PRVNÍ
HLAVA I
§ 1
§ 2
HLAVA II
§ 3
§ 4
§ 5
§ 6
§ 7
§ 8
§ 9
§ 10
§ 11
§ 12
HLAVA III
§ 13
§ 13a
§ 13b
§ 13c
§ 13d
§ 13e
§ 13f
HLAVA IV
§ 14
§ 15
§ 16
§ 17
§ 18
§ 19
§ 20
HLAVA V
§ 21
§ 22
§ 23
§ 24
§ 25
HLAVA VI
§ 26
§ 27
HLAVA VII
§ 28
§ 29
§ 30
§ 31
§ 32
§ 33
§ 34
§ 35
HLAVA VIII
§ 36
HLAVA IX
§ 37
§ 38
§ 39
§ 40
HLAVA X
§ 41
§ 42
§ 43
§ 44
ČÁST DRUHÁ
§ 45
ČÁST TŘETÍ
§ 46
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254
THE LAW
of 14 July 2000
on auditors and amending Act No. 165 / 1998 Coll.
Parliament has decided on this law of the Czech Republic:
AUDITOR, PROVISION OF AUDITOR SERVICES, COMMISSION OF AUDITORS OF THE CZECH REPUBLIC
Preliminary provisions
This Act regulates, in accordance with the law of the European Communities (1), the status and activities of auditors, audit firms, audit assistants, the conditions under which audit services may be provided and the establishment, status and responsibilities of the Chamber of Auditors of the Czech Republic ("the Chamber ').
(1) Auditing services means:
(a) the verification of accounts or consolidated accounts and annual reports or consolidated annual reports (1a) (audit);
(b) verification of other facts under specific legislation;
(c) verification of other economic information to the extent provided for by the Treaty.
(2) The audit services under this Act are authorised to be provided by the auditor and the audit firm.
(3) The auditor is the person 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).
(4) An audit firm is a trading company registered in the list of audit firms kept by the Chamber. Only auditors may provide audit services on behalf of an audit firm.
(5) The auditor is independent in the provision of audit services; is only bound by legislation. The auditor shall also comply with the audit guidelines and professional regulations issued by the Chamber.
(6) Where an auditor provides an audit service on behalf of an audit firm, members, shareholders or managers of that audit firm who are not auditors shall not interfere in the provision of audit services in a manner which may jeopardise the independence of the auditor in the provision of such services.
TRANSMISSION OF AUDIT SERVICES
Conditions for entering an auditor in the list of auditors
(1) Upon request, the Chamber shall include in the list of auditors:
(a) obtained higher education under an accredited Bachelor's or Master's degree programme, 2)
(b) is fully eligible for legal action;
(c) is righteous;
(d) has worked for at least 3 years as an assistant auditor;
(e) is not in an employment relationship or an equivalent relationship, except for the employment of a higher education teacher or employment relationship with an auditor or an audit firm;
(f) does not engage in activities incompatible with the provision of audit services (§ 18);
(g) have passed an audit examination;
(h) has not been removed from the list of auditors in connection with the imposition of disciplinary action or the period laid down in Article 22 (2) has expired; and
i) paid a fee of CZK 5,000.
(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.
(3) For those who fulfil the conditions referred to in paragraph 1 or 2, the Chamber shall allow, within a maximum period of 30 days from the date of fulfilment of the last condition, the placing of a promise in the hands of the President or Vice-President of the Chamber, in the following wording: "I promise in my honour and conscience that, when providing audit services, I will comply with the legal rules, professional regulations and auditing directives issued by the Chamber, with the ethics of the audit profession and with the obligation of confidentiality." Within the same time limit, the Chamber shall enter the list of auditors and issue a certificate thereof.
(4) For the purposes of this law, a person who has been convicted of a final sentence shall not be deemed to be righteous.
(a) for a criminal offence committed intentionally; or
(b) for a criminal offence committed out of negligence, the nature of which relates to the provision of audit services;
if he is not looked at as if he were not convicted. 3)
(5) In order to demonstrate the integrity of the applicant in accordance with paragraph 4, the Chamber shall require, in accordance with the special legislation of 3a, an extract from the Register of Penalties. An application for an extract from the Register of Penalties and an extract from the Register of Penalties shall be sent in electronic form in a way that allows remote access.
(6) Evidence of compliance with the conditions set out in paragraphs 1 and 2 must be provided in the original, certified copy or certified copy. 4) In the case of foreign language documents, their translation into the Czech language shall also be submitted; in case of doubt, the Chamber shall be entitled to require an officially certified translation.
(7) The Chamber shall register the visiting auditor in the list of auditors under the conditions set out in Sections 13e and 13f.
Conditions for entering an audit firm in the list of audit firms
(1) The Chamber shall, upon request, enter a trading company in the list of audit firms,
(a) which accounts for more than 50% of the voting rights of auditors authorised to perform audit services; if it is a public limited company, the core capital of the company must consist of shares issued in name, and the owners of more than 50% of such actions must be auditors authorised to perform audit services;
(b) which has in its statutory and supervisory body more than 50% representation of auditors authorised to perform audit services; where the statutory or supervisory body is composed of one person, the auditor shall be entitled to perform audit services; where it is composed of two natural persons, one of them shall be entitled to perform audit services; and
c) which paid a fee not exceeding CZK 20 000.
(2) The company shall submit, together with the application for registration in the list of audit firms, a social contract, a founding agreement or a charter, statutes, if any, and evidence of its registration in the business register, provided that it is registered on the date on which the application is submitted; for a public limited liability company, also a list of shareholders. The documents shall be presented in original or certified copies.
(3) A trading company which fulfils the conditions set out in paragraphs 1 and 2 is required to register the Chamber within a maximum of 30 days of the date of fulfilment of the last condition and issue a certificate thereof.
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)
List of auditors
(1) The list of auditors kept by the Chamber contains the following information:
(a) the name and surname of the auditor, the birth number, the date of birth, the address of the place of permanent residence, the place of business, the business name, if different from the name and surname of the auditor, and the identification number, if assigned,
(b) the date of the audit examination or the difference audit examination;
(c) the date of entry in the list of auditors and the number of the certificate of entry;
(d) the method of providing audit services (§ 13);
(e) details of the suspension of the authorisation to provide audit services, the removal from the list of auditors and the imposition of disciplinary action;
(f) the date of registration of the visiting auditor and the registration number.
(2) The list of auditors shall also include, without undue delay, an amendment or termination of the recorded facts which the auditor is obliged to notify and document to the Chamber without undue delay.
(3) The information contained in the list of auditors is publicly available and can be consulted at the Chamber's headquarters.
List of audit firms
(1) The list of audit firms maintained by the Chamber contains the following information:
(a) a business name, registered office and identification number;
(b) the date of entry in the list of audit firms and the number of the registration certificate;
(c) the name, surname, birth number, date of birth and address of auditors providing audit services on behalf of the audit firm; for auditors who are members of an audit firm, the extent of their voting rights, the list of shareholders in the public limited company;
(d) the name, surname, birth number, date of birth and address of the place of permanent residence of persons who are their statutory or supervisory body;
(e) details of the suspension of the authorisation to provide audit services by audit firms, the withdrawal from the list of audit firms and the imposition of measures pursuant to Article 21.
(2) The list of audit firms shall also include, without undue delay, an amendment or termination of the recorded facts which the audit firm is required to notify and document to the Chamber without undue delay.
(3) The information contained in the list of audit firms is publicly available and may be consulted at the Chamber's premises.
Auditor's exam and differential audit test
(1) The audit test shall verify the professional level of theoretical knowledge of the tenderer and the ability to use them in practice.
(2) The audit test is aimed at the following areas:
(a) economics and financial management;
(b) accounting,
(c) the relevant parts of civil law, commercial law, financial law, labour law and social security law related to activities carried out in the provision of audit services, and the rules governing insolvency proceedings;
(d) information systems for management and internal control, data processing systems and mathematical and statistical methods available for audit;
(e) audit procedures, methods and techniques, including audit directives.
(3) The audit examination is divided into part of the written part and part of the oral part. The written part of the test shall be divided into a maximum of ten partial written tests. The oral part of the test may be completed at the earliest after the composition of all the partial written tests.
(4) In each calendar semester, the Chamber shall set at least one date for each partial written examination and at least one date for the oral part of the audit examination; Information on test dates is provided by the Chamber.
(5) The audit test must be completed no later than 3 years after the date of the first partial written examination; If the audit examination is not carried out within that period, the composite partial examinations shall not be recognised when a new application for the audit examination is submitted.
(6) The split audit test is divided into part written and part oral and covers the areas defined in paragraph 2 (b) and (c), 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 shows knowledge of all the areas defined in points (b) and (c) of paragraph 2, the difference audit test shall be considered to be composed.
(7) The provisions of paragraphs 4 and 5 shall apply mutatis mutandis to the difference audit test, with the fact that the difference audit examination must be submitted no later than 2 years after the date of the first partial written examination.
(8) Anyone who has failed the partial written examination or the oral part of the audit examination or the divergent audit examination may request the Chamber in writing to allow it to be repeated. The chamber shall allow a repeat of the test, but not earlier than 1 month after the partial written examination or 3 months after the oral examination; each test may be repeated only twice.
(9) Those who failed the audit test and did not submit a request for a repetition of the audit examination or those who failed the test even in its second repetition may not submit a new application for the audit examination until two years after the date of the last test. When submitting a new application for an audit examination, he must demonstrate that he worked as an assistant auditor the last year before the application.
(10) The fee for the application for the part-written part of the audit exam may not exceed CZK 1,000; the fee for the application for the oral audit exam may amount to a maximum of CZK 5,000. Fees are the receipt of the Chamber.
(11) The audit examination and the difference audit examination are held in Czech.
Test Panel
(1) The members and chairmen of the examination committees for the partial written examinations are appointed and dismissed by the Chamber from the ranks of auditors and other experts from economic and legal theory and practice. The panel shall be composed of at least three members, including the chairperson. The partial written examination shall be evaluated by "passed 'or" failed'; the opinion shall be decided by an absolute majority of the panel; in their equality, the vote of the Chairman of the Examination Committee shall be decided. A report on the evaluation shall be drawn up by the Examination Panel.
(2) In cases where the candidate has been assessed by the statement "failed 'and has doubts about the evaluation of the partial written examination by the Examination Board, he may request the Comoros to examine it in writing within 30 days of the date of notification of the evaluation. The Chamber shall ensure that the evaluation is reviewed without delay by a test committee of another composition; the statement by this commission is final.
(3) The members and chairmen of the oral examination committees are appointed and dismissed by the Minister of Finance from the ranks of auditors, staff of the Ministry of Finance (hereinafter "the Ministry") and other experts from economic and legal theory and practice. After consulting the Ministry, the Chamber shall draw up individual examination committees so that each examination committee shall consist of half of the Ministry's staff and half of the members appointed by the Minister of Finance on a proposal from the Chamber. The panel shall be composed of at least four members, including the chairperson; The Chairman of the Examination Board shall always be an employee of the Ministry.
(4) The oral part of the test shall be evaluated by "passed 'or" failed'. The panel shall decide on the opinion by an absolute majority; in their equality, the vote of the Chairman of the Examination Committee shall be decided. A report on the evaluation shall be drawn up by the Examination Panel. The panel's opinion is final.
(5) An action may be brought before a court against a decision of the Chamber under paragraphs 2 and 4. (a)
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 application fee 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 the non-participation procedure shall be issued by the Ministry, after consultation with the Chamber, by implementing legislation.
Delete from the list of auditors or audit firms
(1) The authorisation to provide audit services is withdrawn from the list of auditors or from the list of audit firms,
(a) if one of the facts referred to in paragraph 2 is found; or
(b) if the Chamber so decides in the cases referred to in paragraph 4.
(2) Him,
(a) who died is removed from the list of auditors at the date of death;
(b) who has been declared dead is removed from the list of auditors on the date of the legal authority of the decision of the court to declare himself dead;
(c) who has been deprived of legal capacity, or whose legal capacity has been restricted, is removed from the list of auditors on the date of legal power of the decision of the court which has deprived of legal capacity or whose legal capacity has been restricted;
(d) to whom a disciplinary measure has been imposed by way of removal from the list of auditors or audit firms, it shall be removed from the list on the date of the decision to impose that measure;
(e) to whom bankruptcy has been declared, it shall be removed from the list of auditors or from the list of audit firms on the date of legal authority of the decision on the declaration of bankruptcy;
(f) who has submitted a written request to the Chamber for removal from the list of auditors or from the list of audit firms with a certified signature shall be removed from the list by the end of the calendar month following the month in which the request for removal from the list of audit firms was received.
(3) The removal from the list of auditors or audit firms referred to in paragraph 2 shall be recorded by the Chamber in the relevant list without delay, but no later than 1 month after it has become aware of the reasons for the removal. The record of the Chamber shall be notified in writing of the person to whom the alert relates if the reasons for the removal referred to in paragraph 2 (d) to (f) are concerned; in other cases, the Chamber shall notify the person close to it in writing of the alert if known.
(4) The Chamber will also cross off the list
(a) an audit firm which has undergone a transformation under a specific law; (6) this does not apply in the event of a change in the legal form of the audit firm;
(b) an audit firm which no longer fulfils the conditions set out in Article 4 (1);
(c) an auditor who no longer fulfils the conditions laid down in Article 3 (1) (e) and (f);
(d) an auditor who has been legally sentenced to an unconditional prison sentence for an intentional offence committed in connection with the provision of audit services;
(e) an auditor who has been lawfully convicted of an intentional offence other than that referred to in (d) or who has been sentenced to a penalty other than an unconditional custodial sentence for the offence referred to in (d) where such criminal activity endangers confidence in the proper provision of audit services.
(5) The removal from the list of auditors or the list of audit firms referred to in paragraph 4 shall be recorded by the Chamber in the relevant list without delay, but no later than 1 month after the decision to withdraw has become enforceable.
(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. (a)
(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).
Suspension of the authorisation to provide audit services
(1) The authorisation to provide audit services shall be suspended,
(a) if one of the facts referred to in paragraphs 2 and 3 occurs; or
(b) where the Chamber so decides in the cases referred to in paragraphs 4 and 5.
(2) The auditor,
(a) where a disciplinary measure has been imposed on the suspension of an authorisation to provide audit services, the provision of audit services shall be suspended on the date on which the decision to impose that disciplinary measure has become final;
(b) which has been taken into custody, the authorisation to provide audit services shall be suspended on the date on which the measure is implemented;
(c) who has taken up the execution of a custodial sentence, the authorisation to provide audit services shall be suspended on the date on which the sentence is enforced;
(d) where a prohibition on the provision of audit services has been imposed, the provision of audit services shall be suspended on the date on which the decision imposing that penalty has become final.
(3) An audit firm to which a measure consisting of the suspension of an authorisation to provide audit services has been imposed shall be suspended on the date on which the decision to impose that measure became final.
(4) The Chamber suspends the authorisation to provide audit services to an auditor or audit firm
(a) if it is late in paying contributions to the Chamber for more than 1 year, and the contribution has not been paid within 1 month of inviting the Chamber to learn the consequences of the non-payment; the authority to provide audit services to the Chamber shall suspend until the contribution is paid,
(b) upon written request, for a maximum period of 1 year.
(5) The Chamber may suspend the audit authority's authorisation to provide audit services,
(a) if criminal proceedings have been brought against him for an intentional offence, and at the latest until the date on which the decision terminating the proceedings becomes final;
(b) where the procedure for its legal capacity has been initiated, at the latest until the date on which the decision terminating the procedure becomes final.
(6) The suspension of the authorisation to provide audit services shall be recorded by the Chamber in the relevant list without delay but no later than 1 month after it has become aware of it or the decision to suspend the audit activity has become enforceable; the record of the Chamber shall be notified in writing by the auditor or audit firm.
(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. (a)
(8) During the suspension of the authorisation to provide audit services
(a) neither the auditor nor the audit firm is entitled to provide audit services;
(b) the audit function of the Chamber bodies referred to in § 30 (1) (b) to (d) is suspended;
(c) the auditor may not be elected to the bodies of the Chamber referred to in § 30 (1) (b) to (d);
(d) the obligation of the auditor or audit firm referred to in Article 16 is without prejudice to:
(e) shall be without prejudice to the disciplinary responsibility of the auditor.
(9) Suspension of the authorisation to provide audit services
(a) the date on which the circumstances giving rise to the suspension of the authorisation for the provision of audit services have ceased to exist and, in the cases referred to in paragraph 4, the period during which the authorisation for the provision of audit services has expired;
(b) the date on which the decision to suspend the authorisation to provide audit services was revoked.
(10) If an auditor entered on the list of auditors pursuant to Article 3 (2) is suspended from the audit services abroad, the Chamber shall, where appropriate, suspend the audit services under this Act within 1 month of the date on which it became aware.
(11) The competent authority of another Member State in which the auditor or audit firm provides the audit services shall inform the audit firm of the suspension of the authorisation for the provision of the audit services referred to in paragraph 2 and the termination of that suspension of the Chamber.
METHOD OF PROVISION OF AUDIT SERVICES
(1) The auditor may provide audit services on his or her behalf and on his or her behalf or as a member or employee of the audit firm on his or her behalf and on his or her behalf or as an employee of the auditor; when providing audit services, it shall use the "auditor 'mark.
(2) An auditor who provides audit services on behalf of an audit firm cannot simultaneously provide audit services on his behalf, on behalf of another audit firm or on behalf of another auditor.
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.
Contents
ČÁST PRVNÍ
HLAVA I
§ 1
§ 2
HLAVA II
§ 3
§ 4
§ 5
§ 6
§ 7
§ 8
§ 9
§ 10
§ 11
§ 12
HLAVA III
§ 13
§ 13a
§ 13b
§ 13c
§ 13d
§ 13e
§ 13f
HLAVA IV
§ 14
§ 15
§ 16
§ 17
§ 18
§ 19
§ 20
HLAVA V
§ 21
§ 22
§ 23
§ 24
§ 25
HLAVA VI
§ 26
§ 27
HLAVA VII
§ 28
§ 29
§ 30
§ 31
§ 32
§ 33
§ 34
§ 35
HLAVA VIII
§ 36
HLAVA IX
§ 37
§ 38
§ 39
§ 40
HLAVA X
§ 41
§ 42
§ 43
§ 44
ČÁST DRUHÁ
§ 45
ČÁST TŘETÍ
§ 46
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Regulation Information
| Citation | Act No. 254 / 2000 Coll., on Auditors and amending Act No. 165 / 1998 Coll. |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 11.08.2000 |
|---|---|
| Effective from | 01.01.2001 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Banking, Money
Finance
Financial control
Economic (State)
Civil law
Civil law of procedure
Labour relations
Labour law
Administrative authorities
Administrative law
State (official) control
Accounting
Constitutional (state) law
Fundamental human rights
Eligibility for the pursuit of certain professions (activities)
The regulation text is for informational purposes only.
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