Act No. 462 / 2016 Coll.
Act amending Act No. 563 / 1991 Coll., on Accounting, as amended
Valid
Law
Effective from 01.01.2017
Text versions:
01.01.2017
30.12.2016
462
THE LAW
of 14 December 2016
amending Act No. 563 / 1991 Coll., on Accounting, as amended
Parliament has decided on this law of the Czech Republic:
Act No. 563 / 1991 Coll., as amended by Act No. 117 / 1994 Coll., Act No. 227 / 1997 Coll., Act No. 492 / 2000 Coll., Act No. 353 / 2001 Coll., Act No. 230 / 2009 Coll., Act No. 437 / 2003 Coll., Act No. 81 / 2006 Coll., Act No. 230 / 2006 Coll., Act No. 264 / 2006 Coll., Act No. 69 / 2007 Coll., Act No. 261 / 2007 Coll., Act No. 266 / 2007 Coll., Act No. 296 / 2007 Coll.
1. in Paragraph 1c (1) (b), the words "net turnover" are replaced by the words "annual total net turnover."
2. in Article 1f (1) (d) (1) to (3) and in Article 9 (4) (b) and (c), "a" is replaced by "or."
3. in Articles 1f (1) (d) (4) and 9 (4) (d), the words "church and religious" shall be replaced by the words "church, religious."
4. Paragraph 3 (3), including footnote 41, reads as follows:
"(3) The accounting year for the transformation of an entity
(a) it shall begin for the non-extinguishing entity on the date determined in accordance with the procedure laid down in the Special Legislation (41) and end on the last day of the financial year in which the legal effects of the transformation occurred;
(b) shall end on the date preceding the operative day determined in accordance with the special legislative procedure (41) for the entity being acquired.
41) For example Act No. 89 / 2012 Coll., Civil Code. '.
5. in Paragraph 3 (4) (e), the words "for an entity distributed by segregation or for a acquiring partner in the case of a transfer of assets to a member" shall be replaced by "or distributed entities" and the words "commercial corporation" shall be replaced by "public."
6. In Paragraph 3 (6) (b), the words "the entity divided by the split or the taking-over partner in the case of a transfer of assets to a shareholder 'are replaced by the words" or distributed by the entity' and the words "the commercial corporation 'are replaced by the words" public'.
7. In Paragraph 4 (8) (v), the word "company 'is deleted, the word" commercial corporation' is replaced by "entities' and the word" commercial 'is replaced by the word "public'.
8. in Article 9 (4) (a), the word "subsidiary" shall be replaced by "or subsidiary."
9. in Article 9 (4) (i), the word "or" shall be deleted;
10. in Article 9 (4) (j):
"(j) housing cooperative, or";
11. in Article 9, the following point (k) is added at the end of paragraph 4:
"(k) by social cooperative."
12. in Article 17 (2) (d), the words "commercial corporations" shall be deleted;
13. In the first sentence of Article 17 (3), the words "under the law governing the transformation of commercial corporations' shall be inserted after the words" the transformation of a commercial corporation 'and the words "the company' shall be deleted, the words" the company 'shall be deleted in the sentences of the second and the third and fourth sentences' shall be deleted.
14. In the first sentence of Article 17 (5), the words "commercial corporation 'and the last sentence are deleted.
15. In the first and second sentences of Paragraph 17 (6), the words "company" shall be deleted; the words "business corporation" shall be deleted; the words "business corporation" shall be deleted; the words "business corporation" shall be deleted.
16. In Paragraph 17 (7), the words "transformation of a commercial corporation 'are replaced by" transformation' and the words "possible 'are replaced by the words" necessary'.
17. In Article 17, the following paragraph 9 is added:
"(9) An entity that is not a commercial corporation and that pursues a transformation under a special legislature42) shall apply paragraphs 3 to 8 mutatis mutandis.
42) For example, Act No. 89 / 2012 Coll., Civil Code, as amended, Act No. 240 / 2013 Coll., on Investment Companies and Investment Funds, as amended, Act No. 427 / 2011 Coll., on Supplementary Pension Savings, as amended. '
18. in Article 18 (3) (b), the words "in accordance with the law governing the public registers of legal and natural persons (hereinafter referred to as" the public register ")" shall be deleted;
19. In the last sentence of Paragraph 18 (3), "commercial corporations' is replaced by" public '.
20. In Paragraph 19 (8), the following sentence is inserted after the second sentence: "For the purposes of reporting in financial statements, assets may be broken down into permanent and circular assets."
21. In the first sentence of Article 21a (1), the word "public" shall be inserted after the words "entering into". "
22. in Paragraph 21a (8):
"(8) Paragraphs 1 to 7 shall apply mutatis mutandis to consolidated financial statements, annual report, payment report, consolidated payment report according to Part Seven and to the disclosure of non-financial information pursuant to Section 32h (a). ';
23. in the first sentence of Article 21a (10), the word "where" shall be replaced by "in which collection of authentic documents."
24. in Article 24 (3) (a), the words "commercial corporation" shall be deleted;
25. In the first sentence of Article 24 (5), the words "required by the Act on Transformation of Companies and Cooperatives' are replaced by the words" transformations'.
26. in Paragraph 27 (1) (d), the words "this does not apply in the cases referred to in paragraph 3" shall be deleted;
27. in Article 27 (1) (g), the word "commitments" is replaced by the word "obligations."
28. In Article 28 (4), the words "or smuggler" shall be inserted after the word "tenant."
29. in § 32e, the word "member" is replaced by "Member State."
30. The following Part Eight is inserted after Part Seven:
INTRODUCTION OF NON-FINANCIAL INFORMATION
Scope
An entity reporting non-financial information shall:
(a) a large entity which is a trading company and is also a public-interest entity if, on the balance sheet date, it exceeds the average of 500 employees during the accounting year;
(b) a consolidated entity of a large group of entities that is also a public-interest entity when, on a consolidated basis on the balance sheet date, it exceeds the average of 500 employees during the financial year.
Non-financial information
(1) An entity that provides non-financial information shall disclose non-financial information to the extent necessary to understand the development of an entity or group, its performance and the status and impact of its activities, and that is non-financial information relating to at least issues.
(a) the environment;
(b) social and occupational,
(c) respect for human rights; and
(d) combating corruption and corruption.
(2) The non-financial information referred to in paragraph 1 shall be provided in the following structure:
(a) a brief description of the entity's business model indicating non-financial information or groups;
(b) a description of the measures that an entity providing non-financial information or a group applies in relation to these issues, including the due diligence procedures applied; If no measure is applied to any of these issues, the reasons for which the measure is not applied on that question shall be stated,
(c) a description of the results of these measures;
(d) a description of the main risks related to these issues, which are related to the activity of an entity providing non-financial information or groups, including, where appropriate and proportionate, the manner in which that entity providing non-financial information or group manages those risks;
(e) non-financial key performance indicators relating to the relevant business activity.
(3) The non-financial information referred to in paragraph 1 shall be disclosed in the annual report or in the consolidated annual report or in a separate report. An entity reporting non-financial information may use methodologies for the disclosure of corporate liability reports for the disclosure of such information and, if it does so, shall specify which methodologies it based on.
(4) The non-financial information referred to in paragraph 1 shall include, where possible and appropriate, references to the amounts shown in the financial statements or consolidated financial statements with any further detailed comments.
(5) The non-financial information referred to in paragraph 1 concerning the future development of an entity's non-financial information or matters that are being discussed by that entity or group need not be disclosed in exceptional cases if, in accordance with the duly substantiated opinion of the members of the management or supervisory authority, the disclosure of such non-financial information would significantly harm the trading position of the entity's non-financial information or groups and if their non-disclosure does not prevent an objective and balanced understanding of the development of that entity's non-financial information or group, its performance and the position and impact of its activities.
(6) If an entity reporting non-financial information provides non-financial information in accordance with paragraph 1, it does not disclose information in accordance with Paragraph 21 (2) (e).
(7) A consolidated entity reporting non-financial information shall not be required to fulfil the obligations under paragraphs 1 to 6 if the non-financial information is specified in the consolidated annual report or separate report of the consolidating entity. This also applies to a consolidated entity reporting non-financial information that is itself a consolidated entity.
Separate report
If an entity reporting non-financial information draws up a separate report in accordance with Paragraph 32g (3) for the same financial year, which contains non-financial information in accordance with Paragraph 32g (1), that separate report shall be:
(a) published together with the annual report or the consolidated annual report; or
(b) made available to the public within a reasonable period of time which may not exceed 6 months from the balance sheet date, on the entity's non-financial information website and in the annual or consolidated annual report a reference to its publication in a manner that allows remote access.
Verification by the auditor of the preparation of non-financial information
The auditor shall verify whether an entity providing non-financial information has produced non-financial information and has disclosed it in the annual report or consolidated annual report or has produced a separate report pursuant to Paragraph 32g (3). '
The eighth part shall be renumbered the ninth part.
31. in Article 37a (1), the following point (e) is inserted after point (d):
"(e) shall not produce a report on payments in accordance with § 32b,";
Points (e) to (p) shall be renumbered as points (f) to (q).
32. in Article 37a (1) (h), the words "the financial statements drawn up by her shall not contain all the mandatory components referred to in" shall not be replaced by "shall not ensure that the financial statements drawn up by her contain all the mandatory components according to";
33.In Article 37a (1), the following points (n) and (o) are inserted after point (m):
"(n) does not provide non-financial information in an annual or separate report pursuant to § 32g;
(o) does not publish or make available a separate report contrary to § 32h; ';
Points (n) to (q) shall be renumbered as points (p) to (s).
34. in Article 37a (2), the following points (e) and (f) are inserted after point (d):
"(e) does not provide non-financial information in the consolidated annual report or separate report pursuant to § 32g;
(f) it shall not publish or make available a separate report in contravention of Paragraph 32h; ';
Points (e) to (j) shall be renumbered as points (g) to (l).
35. in Article 37a (2) (g), the words "the consolidated financial statements drawn up by it do not contain all the mandatory components" shall be replaced by the words "shall not ensure that the consolidated financial statements drawn up by it contain all the mandatory components."
36. in Article 37a (2) (k), the word 'not to' shall be replaced by 'not to';
37. in Article 37a (3) (c), the words "her processed summaries do not contain all the data" shall be replaced by "shall not ensure that the processed summaries contain all the data."
38. in Article 37a (4) (a), "h" is replaced by "i";
39. in Article 37a (4) (b), the text "(g)" is replaced by the text "(h)," the text "(i)" is replaced by "(j)" and the text "(n)" is replaced by "(q)."
40. in Paragraph 37a (4) (d), "o) or (p)" is replaced by "r) or (s)."
41. in Paragraph 37aa (1), the text "paragraph 3" is replaced by "paragraph 4."
42. In Paragraph 37aa (2), the words "imposing a fine" shall be replaced by the words "administrative offence," the words "paragraph 3 of this Article" shall be replaced by the words "paragraph 4" and the words "not adjusted for the items referred to in paragraph 26 (3)" shall be replaced by the words "found in the administrative proceedings."
43.In Article 37ab (2), "(k)" is replaced by "(r) or (s)."
44. in Article 37b (1), "Article 30 (5)" is replaced by "Article 30 (9)."
Transitional provision
For the accounting year which began before the date of entry into force of this Act, Act No. 563 / 1991 Coll., as effective before the date of entry into force of this Act, shall apply.
Efficacy
This Act shall enter into force on 1 January 2017.
Hamlet v. r.
Zeman v. r.
Sobotka v. r.
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Regulation Information
| Citation | Act No. 462 / 2016 Coll., amending Act No. 563 / 1991 Coll., on Accounting, as amended |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.12.2016 |
|---|---|
| Effective from | 01.01.2017 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Finance
Accounting
The regulation text is for informational purposes only.
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