Full text of Act No. 56 / 2002 Coll.
Full text of Act No. 563 / 1991 Coll., on Accounting, as resulting from subsequent amendments
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22.02.2002
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56
PRESIDENT OF THE GOVERNMENT
Announces
full text of Act No. 563 / 1991 Coll., on Accounting, as is apparent from the amendments made by Act No. 117 / 1994 Coll., Act No. 227 / 1997 Coll., Act No. 492 / 2000 Coll. and Act No. 353 / 2001 Coll.
Accounting Act
The Federal Assembly of the Czech and Slovak Federal Republic decided on this law:
GENERAL PROVISIONS
(1) That law sets out the scope and manner of keeping the accounts and the evidence thereof.
(2) This law applies to:
(a) legal persons having their registered office in the Czech Republic;
(b) foreign persons, in so far as they are engaged or are engaged in other activities within the territory of the Czech Republic under specific legislation;
(c) the organisational elements of the State under specific legislation;
(d) natural persons engaged or engaged in another self-employed activity where they prove their expenditure incurred to achieve, secure and maintain income for the purpose of establishing the income tax base;
("entities').
Subject matter of accounting
Entities shall account in the system for double or simple accounting for the status and movement of assets and other assets, liabilities and other liabilities, expenses and income or expenses and income and the result of the management.
(1) The entities shall account for the facts which are the subject of the accounts until the period to which those facts relate in time and in substance ("the accounting year"); If it is not possible to comply with this principle, they may also charge for the accounting year in which they have established those facts. In the accounting year, the entities shall account for those facts in accordance with accounting methods (Section 4 (2)); they shall account for all costs and revenues regardless of the time they are paid or received, whereas they shall account for all expenditure and revenue only when they are actually paid or received.
(2) The accounting year shall be continuous 12 months, unless otherwise specified. The accounting year shall either coincide with the calendar year or shall be the marketing year. The marketing year shall be the accounting year which may begin only on the first day of a month other than January. The accounting year immediately preceding the change in the accounting year may be shorter or longer than the 12 months indicated. The accounting period when an entity is formed in the three months preceding the end of the calendar year or when the entity is terminated in the three months following the end of the calendar year may be more than the 12 months indicated. In cases of transformation of companies or cooperatives, with the exception of a change in the legal form of the accounting year, it shall begin on the operative date in accordance with a separate law and end on the last day of the accounting year in which the information was entered in the business register, if it is a successor entity. In the case of an acquired entity, the accounting year shall end on the day preceding the relevant date in accordance with a specific legal act. Entities that are entrepreneurs may apply the marketing year only with the agreement of the tax administrator concerned. 1) Other entities may apply the marketing year only with the approval of the Ministry of Finance (hereinafter the Ministry).
(3) An entity may apply for an amendment to the accounting year referred to in paragraph 2, indicating the expected date and the reason for the change to the relevant tax administrator or the Ministry not later than three months before the date specified in the application. When deciding on an entity's application, the tax administrator shall proceed according to the Tax Administration Act or the Ministry according to the Administrative Rules; they shall take a decision on the request without delay, not later than 30 days after the initiation of the procedure. The tax administrator or the Ministry may refuse their approval only if they have objective and essential economic reasons. An entity may not apply the newly defined financial year before it receives the tax administrator's decision. If the reason for accepting the application of a newly defined financial year is omitted, the entity must inform the tax administrator or the Ministry again and ask for the amendment of the accounting year in accordance with the first sentence.
(1) The entities referred to in § 1 (2) (a) and (c) are required to keep accounts under this Act from the date of their establishment until the date of their demise; the entities referred to in Paragraph 1 (2) (b) and (d) are required to keep accounts under this Act from the date of commencement of business until the date of termination of business.
(2) Entities are required to comply with the accounting records of the indicative book books, the layout and labelling of financial statements items and consolidated financial statements and the content of the items of those accounts, the content of the accounting books in the simple accounting system, as well as accounting methods such as valuation methods and their use, including the procedures for making and using adjustment items, depreciation and reserve creation and use procedures, as well as methods for consolidating financial statements. The classification of entities under Paragraph 1 (2) into individual groups according to the nature of their activities, accounting methods and their application by groups of entities or, where appropriate, by individual entities within those groups, shall be subject to the provisions of the implementing legislation.
(3) Entities are required to keep one accounting for the entity as a whole.
(4) Entities are required to keep accounts as a set of accounting records; they may use technical means, information media and software. The accounting record shall mean the data which bear the information relating to the subject matter of the accounting or its management. Any information relating to the subject matter of the accounting or its management shall be recorded solely by accounting records.
(5) Individual accounting records may be grouped in accounting records carrying the summary information; such accounting records shall be, in particular, accounting documents, accounting records, books, depreciation plan, inventories, accounting schedules, financial statements and annual report. Entities are required to keep such accounting records to the minimum specified by this Act.
(6) Entities are required to keep accounts in the currency of the Czech currency. In the case of receivables and liabilities, shares, (2) securities (3) and derivatives, (4) prices, if expressed in foreign currency, foreign exchange values (5) excluding gold, entities are required to use foreign currency at the same time; (6) where the assets and liabilities to which they relate are denominated in foreign currency.
(7) Entities are required to keep accounts in the Czech language. Accounting documents may be drawn up in a foreign language only if the condition of clarity laid down in Paragraph 8 (5) is met.
(8) Accountancy can only be considered as a whole as an information system under special legislation7.
(9) Entities shall apply the accounting methods referred to in paragraph 2 in the version in force at the beginning of the accounting year.
(1) Entities may entrust the management of their accounts to another legal or natural person.
(2) The delegation referred to in paragraph 1 shall not relieve an entity of its liability to keep accounts.
(1) Entities are required to recognise the facts that are the subject of accounting (hereinafter referred to as "accounting cases') by accounting documents.
(2) Entities shall only be required to record accounting cases in books (hereinafter referred to as "accounting records') on the basis of the accounting records referred to in paragraph 1.
(3) Entities are obliged to inventory assets and liabilities under Sections 29 and 30.
(4) Entities are required to draw up the financial statements in accordance with Paragraph 18 as regular or, where appropriate, as exceptional or interim, and in addition, they shall draw up consolidated financial statements in the cases provided for in Section 22.
(1) Entities are required to keep accounts in such a way that the financial statements drawn up on the basis of them give a true and fair view of the entity's subject matter and financial situation.
(2) The display is faithful if the contents of the financial statements' items correspond to the actual state which is shown in accordance with the accounting methods the entity is required to use under this Act. The display is fair when the accounting methods are used in a way that leads to the achievement of loyalty. Where an entity can choose between several options of the accounting method and the option chosen would mask the actual situation, an entity shall choose another option that corresponds to the actual situation. If, in exceptional cases, the application of the accounting methods set out in the implementing legislation is incompatible with the obligation under paragraph 1, the entity shall, by way of derogation, apply a fair and fair view.
(3) An entity is required to apply accounting methods in a manner that is based on the assumption that it will continue its activities continuously and that there is no fact that would restrict it or prevent it from continuing it in the foreseeable future. If an entity has information that such a fact occurs to it, it shall apply the accounting methods in a manner appropriate to that effect, and the information on the method used shall be included in the notes in the financial statements.
(4) The organisation and labelling of balance sheet items and profit and loss accounts, and their content and valuation methods used in one accounting year, may not change an entity in the following financial year. Entities may change those arrangements, labelling and content definitions and valuation methods in whole or in part between periods of accounting solely for reasons of change in the subject matter of business or other activity, or for reasons of precision of the faithful presentation or improvement of the reporting capacity of financial statements, the information on any such change with due justification being given in the notes to the financial statements.
(5) Entities shall always be required to provide information in the notes to the financial statements [Paragraph 18 (1) (c)] on the accounting methods used and, where applicable, on deviations from those methods in accordance with paragraph 2, with due justification for them and indicating their impact on the entity's assets and liabilities, financial position and outcome.
(6) Entities are required to account for assets and liabilities, costs and revenues or expenses and income in the books and to display them separately in the financial statements without clearing them. The infringement of mutual settlement is not a case governed by accounting methods.
(1) Entities are required to keep the accounts accurate, complete, conclusive, understandable, clear and in a way that guarantees the continuity of the accounting records.
(2) The accounting of an entity is correct if the entity keeps accounting in such a way that it does not contradict or circumvent this law or other legislation.
(3) The accounting of an entity is complete when an entity has recorded in its books all accounting cases that it should have recorded in accordance with Paragraph 3 in the financial year, and at the latest by the end of that period it has drawn up for its immediately preceding financial years the financial statements and, where applicable, consolidated financial statements, prepared an annual report and, where appropriate, a consolidated annual report, published the information in accordance with Paragraph 21a and has all accounting records on these facts, and clearly arranged.
(4) An entity's accounting records are conclusive if all accounting records of such accounts are conclusive (Paragraph 33a) and the entity has made an inventory.
(5) An entity's accounts are understandable if, while complying with the provisions of Paragraph 4 (7), it allows a reliable and unambiguous identification of:
(a) the content of accounting cases using at least the accounting methods referred to in Article 4 (2);
(b) the content of the accounting records using the instruments referred to in Article 4 (4).
(6) The accounting of an entity shall be conducted in a manner that guarantees the continuity of accounting records if the entity is able to fulfil its custody and processing obligations in accordance with paragraphs 31, 32 and 33 (3) and (6) for as long as they are imposed by this law.
ACCOUNTS, ACCOUNTS, ACCOUNTS AND ACCOUNTS
Accounting systems
(1) Entities are required to account in the double-book system; they may, under the conditions set out in paragraphs 2 and 3, account in a system of simple accounting.
(2) Of the entities referred to in Articles 1 (2) (a) and 1 (2) (b), they may account for:
(a) civil associations, their organisational units, 8) which have legal personality, churches and religious societies and their departments, 9) which have legal personality, association of legal persons and foundation funds, if their total income has not reached CZK 6 000 000,
(b) community of unit owners and other entities for which specific legislation provides for this.
(3) The accounting entities referred to in Article 1 (2) (d) may account for those on which specific legislation provides for in the simple accounting system. 10)
(4) The transition from a simple accounting system to a double accounting system is mandatory if an entity ceases to meet the conditions set out in paragraph 2 or 3 for accounting in a simple accounting system; a change in a simple accounting system is only possible if an entity meets the conditions set out in paragraph 2 or 3 for accounting in a simple accounting system. Compliance with the conditions laid down in paragraphs 2 and 3 shall be assessed for the immediately preceding financial year. Movements according to previous sentences are only possible on the 1 day of the financial year following the accounting year in which the entity has established those facts.
repealed
Accounting documents
(1) The accounting documents are evidence of accounting records which must include:
(a) the identification of the accounting document;
(b) the content of the accounting case and its participants;
(c) the amount of money or information on the price per unit of measurement and the expression of quantities;
(d) the moment when the accounting document is drawn up;
(e) the time at which the accounting case is carried out, unless it is identical with that referred to in (d);
(f) the signature pursuant to Paragraph 33a (4) of the person responsible for the accounting case and the signature of the person responsible for its entry.
An entity shall demonstrate the facts under (a) to (f) only with an accounting document.
(2) Entities are required to draw up accounting documents without undue delay after the facts that are recognised by them have been established so that the content of each individual accounting case can be determined in accordance with Paragraph 8 (5).
Accounting records
(1) Accounting records are accounting records, the content of which is determined by the provisions of this Act relating to books.
(2) Entities are required to carry out accounting records on an ongoing basis in the accounting year following the completion of the accounting document in such a way as not to jeopardise compliance with other legal requirements. A signature of the person responsible for carrying it out shall be attached to the accounting record unless it is identical to the signature of the person responsible for accounting the accounting case.
(3) Accounting records may not be carried out by entities outside the books.
Accounting books in the double accounting system
(1) Entities accounting in the double book system shall account for:
(a) in the diary (s) in which the accounting records are organised in terms of time (chronological) and by which they show that all accounting cases are recorded in the accounting year;
(b) in the main book in which the accounts are organised in substance (systematically);
(c) in the books of the analytical accounts in which the accounts of the main book are detailed;
(d) in the books of off-balance-sheet accounts which show accounting entries not made in the books referred to in (a) and (b).
(2) The main book includes synthetic accounts according to the schedule containing at least the following information:
(a) balances of accounts on the date on which the main book is opened;
(b) the aggregate turnover of the party has to give and give accounts, for at least a calendar month;
(c) balances of accounts on the date on which the accounts are drawn up.
(3) Entities may not set up accounts outside the accounts and books.
(4) repealed
Indicative schedule and schedule of accounts
(1) The indicative chart of accounts determines the layout and designation of the accounting classes or groups of accounts or, where appropriate, the synthetic accounts for accounting for the status and movement of assets and other assets, liabilities and other liabilities, as well as the costs and revenues or expenses and income and the result of the management; the arrangements must ensure that the accounts are drawn up. An indicative chart of accounts for each group of entities (Section 4 (2)) accounting in the dual accounting system shall be amended by implementing legislation.
(2) On the basis of the indicative chart of accounts referred to in paragraph 1, entities shall draw up an accounting schedule specifying the accounts required to account for all accounting cases and to draw up the accounts in the entity.
(3) Entities shall draw up the accounting schedule referred to in paragraph 2 for each financial year; the accounting schedule may be supplemented during the accounting year. If the first day of the financial year does not change the accounting schedule in force in the previous financial year, the entity shall also proceed according to that financial year.
Accounting books in a simple accounting system
(1) Entities accounting in a simple accounting system shall:
(a) in the balance sheet;
(b) in the book of claims and liabilities,
(c) in auxiliary books on other components of property and on obligations arising from employment relations, if they are to be used for them.
(2) The ledger contains at least information on:
(a) cash in accounts with financial institutions, 11)
(b) the final revenue and expenditure actually received or paid during the accounting year and the breakdown needed to establish the income tax base;
(c) interim items considered to be movements of funds which are not final income or expenditure within the meaning of point (b).
(3) Paragraph 12 (3) applies mutatis mutandis.
(4) The content of the definition of books in the simple accounting system will be adapted by implementing legislation.
(5) Entities accounting in a simple accounting system are required to compile an overview of assets and liabilities and an overview of revenue and expenditure (hereinafter referred to as "summaries'). Paragraphs 18 (2), 19 (1) and (2) and 29 (1) shall also apply to these summaries.
(6) Entities accounting for in a simple accounting system do not apply the provisions of Sections 7, 14, 27 and 28.
Other provisions on books
(1) The cash amounts in the books of the analytical accounts must correspond to the respective aggregate amounts of turnover or balances of the synthetic accounts to which those accounts are kept.
(2) A statement in cash units shall be used in the books of the analytical accounts and in the auxiliary books. the units of measurement and the quantity cannot be used.
Opening and closing books
(1) Unless otherwise specified, entities shall open their books on the date of their establishment, on the first day of the accounting year, on the date of entry into liquidation or on the effective date of the bankruptcy declaration, and in other cases where they draw up an opening balance sheet under special legislation.
(2) The entities referred to in Paragraph 1 (2) (d) shall open the books on the date of commencement of business, the first day of the accounting year and the effective date of the bankruptcy declaration.
(3) Unless otherwise specified, entities shall close their books on the last day of the financial year, on the date of cancellation without liquidation, with the exception of the conversion of companies or cooperatives, on the date preceding the date of entry into liquidation, on the date preceding the effective date of the bankruptcy declaration, and in other cases where they draw up exceptional accounts under special legislation. In cases of transformation of companies or cooperatives, except in the case of a change in the legal form of the acquired entities, the books shall no longer be closed at the date of their demise, unless special legislation provides otherwise; in those cases, the merging entities shall keep accounts on behalf of the entity that is the acquiring company during the period from the relevant date to the date of its demise.
(4) The accounting books shall be closed by the entities in accordance with Paragraph 1 (2) (d) on the last day of the financial year, on the closing date, on the day preceding the effective date of the bankruptcy declaration.
(5) If the entity's termination is preceded by liquidation, the entity shall close the books on the date on which the proposal for the distribution of the liquidation balance is drawn up or on the date on which the disposal report is drawn up in accordance with a separate law.
(6) An entity shall also close the books on the date on which the final decision to cancel the bankruptcy was taken.
(7) After the clearance of the financial statements, an entity may not add further accounting entries at any later date in closed books, except in cases of transformation of companies or cooperatives referred to in paragraph 3. By the time the financial statements are cleared, and at the latest by the end of the following financial year, an entity may reopen and make a possible correction to the financial statements and draw up a new financial statement which thus becomes financial statements under this Act.
FINANCIAL CONCLUSION
Financial statements
(1) Entities accounting for double-entry accounting shall draw up financial statements in the cases provided for in this Act. The accounts shall be an integral whole and shall comprise:
(a) balance sheet (balance sheet);
(b) profit and loss account;
(c) an Annex which explains and complements the information contained in the parts referred to in (a) and (b), in particular by fulfilling Sections 7 (3) to (5) and 19 (5).
Financial statements may include an overview of cash flows or an overview of changes in equity.
(2) The accounts referred to in paragraph 1 shall include:
(a) the business or other name of the entity; for entities referred to in § 1 (2) (a) to (c), the head office or for entities referred to in § 1 (2) (d) of residence and place of business, if different from residence,
(b) the identification number if the entity has it;
(c) the legal form of the entity;
(d) the subject matter of the business or other activity or, where appropriate, the purpose for which it was established;
(e) the balance sheet date (§ 19 (1)) or other time at which the accounts are drawn up (§ 19 (3)),
(f) the time when the accounts are drawn up,
and it shall be accompanied by a signature of the entity's statutory body as referred to in paragraphs 1 (2) (a) to (c) or a signature of the entity as described in paragraph 1 (2) (d); the addition of that signature record shall be considered as drawn up in accordance with point (f).
(3) Entities shall draw up financial statements in full or in a simplified manner. To a simplified extent, they may draw up the entity's financial statements referred to in Paragraph 20 if they do not meet the criteria set out in Paragraph 20 (b).
(4) The organisation and labelling of items of property and other assets, liabilities and other liabilities, costs and revenues or expenses and the result of the management of the financial statements and the content of the items of that statement and the scope for drawing up the accounts referred to in paragraph 3 for each group of entities shall be governed by the implementing legislation.
Balance sheet day
(1) Entities shall draw up the financial statements whenever they close the books in accordance with paragraphs 3 and 4 of Article 17, on the last day of the financial year as being regular; in other cases, the closure of the books referred to in Article 17 (3), (4), (5) and (6) as exceptional (hereinafter referred to as "balance sheet date '). The final accounts shall also be extraordinary in accordance with specific legislation. The balance sheet as an opening balance sheet shall be drawn up by the entities in the cases referred to in paragraphs 1 and 2 of Paragraph 17, with the exception of the first day of the financial year.
(2) Entities are required to provide information in the financial statements according to the balance sheet date end status; This applies mutatis mutandis to all accounting records which are drawn up at the balance sheet date or at another time at which the accounts are drawn up.
(3) In cases where specific legislation so requires, entities may draw up financial statements during the financial year at a different time than the end of the balance sheet day ("interim financial statements'). In the case of drawing up interim financial statements, the entity shall not close the books and carry out the inventory only for the purpose of expressing the valuation in accordance with Paragraph 25 (2); the other provisions of this Act concerning the accounts shall apply mutatis mutandis.
(4) Entities shall draw up a balance sheet so that the initial balance sheet balances (hereinafter referred to as "balance sheet accounts') opening the financial years follow up on the final balance sheet accounts balances that have closed immediately preceding periods; This provision also applies to off-balance-sheet accounts.
(5) For the period beginning at the end of the balance sheet and ending at the time of drawing up the financial statements, entities shall also include in the notes to the financial statements information on:
(a) facts providing further information on the conditions or situations that existed at the end of the balance sheet day;
(b) the facts which existed as uncertain conditions or situations at the end of the balance sheet day;
and the consequences of which significantly alter the entity's financial position.
(6) The information in the financial statements must be reliable, comparable, understandable and assessed for relevance. The information shall be considered reliable if it fulfils the requirement of Paragraph 7 (1) and is complete and timely. The information shall be timely if it is obtained at the right time in terms of its significance and the cost of obtaining it, provided that such costs do not exceed the benefits of this information. The information is comparable if it complies with the requirements set out in § 7 (3) to (5). The information shall be understandable if it complies with the requirements set out in Section 8 (5). The information shall be considered to be significant (serious) if the non-disclosure or erroneous disclosure of the information could affect the judgement or decision of the persons using the information (hereinafter referred to as "user '); the information cannot be excluded solely on grounds that it is incomprehensible to the user.
(7) For the purposes of this Act, assets and liabilities are divided into long-term and short-term. Long-term shall mean assets and liabilities where the period of application and, where applicable, the agreed maturity of the accounting case is more than one year. Short-term shall mean assets and liabilities where the period of validity or, where applicable, the agreed maturity of the accounting case is up to and including one year. If, having regard to the nature of the assets and liabilities, the aforementioned disaggregation aspects cannot be applied objectively, the entity's intention to acquire them is decisive.
(8) In cases where legal requirements so require, entities may provide accounting records that carry information organised by field (s) of activity or geographical areas in which they operate.
(9) In addition to the financial statements drawn up under this Act, entities may provide accounting records carrying information that are compiled according to international accounting standards or other internationally recognised accounting principles.
(10) Except in the cases referred to in paragraphs 1 and 3, no other accounting record may be identified by the names referred to in Article 18 (1).
(11) The accounts shall not collect or require information under specific legislation. 12)
Verification of accounts by the auditor
The accounts under this Act are required to be audited by the audit body in accordance with § 1 (2)
(a) public limited liability companies;
(b) other trading companies and cooperatives where, at the end of the balance sheet date of the financial year for which the accounts are audited (Paragraph 18 (3)) and the accounting year immediately preceding that has exceeded or reached at least two of the three criteria:
1. balance sheet total of more than 40 000 000 CZK; the balance sheet total for the purposes of this Act means the aggregate recorded from the balance sheet in the valuation not adjusted for items under Paragraph 26 (3);
2. net turnover of more than 80 000 000 CZK; net turnover for the purposes of this Act means income less sales discounts, value added tax and other taxes directly linked to turnover,
3. the average recalculated status of employees, including cases of working relationship of a member to a cooperative, over the financial year of more than 50, determined in accordance with a specific legislation, 12)
(c) entities referred to in Paragraph 1 (2) (b) that are entrepreneurs under the conditions set out in (b);
(d) an entity pursuant to Paragraph 1 (2) (d) accounting in the double accounting system under the conditions set out in (b);
(e) entities to which this obligation provides for specific legislation.
Annual report
(1) The entities referred to in paragraphs 20 (a) to (d) are required to draw up an annual report. The annual report shall contain at least the following information:
(a) the previous development of the entity's activities and its position in at least two immediately preceding financial years;
(b) information providing information on the conditions or situations which occurred only after the end of the balance sheet day;
(c) the expected future development of the entity's activities;
(d) expenditure on research and development activities;
(e) the acquisition of own shares, provisional certificates, shares and shares, provisional certificates, controlling shares, 13)
(f) within the scope of the financial statements for the financial year and the audit opinion on those financial statements, unless otherwise provided for in specific legislation, and within the scope of the financial statements for the immediately preceding 2 financial years,
(g) required under specific legislation;
(h) whether an entity has an organisational component abroad.
The annual report may include an audit report in accordance with specific legislation.
(2) The entities referred to in Section 20 (e) shall draw up an annual report or similar document, where this is provided for in a separate law, 14) which may determine its content by way of derogation from paragraph 1.
(3) Paragraph 20 shall apply mutatis mutandis to the verification of the annual report by the auditor.
Disclosure procedures
(1) Of the entities referred to in Paragraph 1 (2), the financial statements and the annual report shall be made public by those incorporated in the Commercial Register or by those to which this obligation provides for specific legislation. 14) Entities publish financial statements to the extent that they have been drawn up (Paragraph 18 (3)). The obligations of the accounting entities to disclose or publish other information provided for in specific legislation15 shall not be affected. Provisions on accounting records under this Act may apply mutatis mutandis in those cases.
(2) The entities referred to in Paragraph 20 shall publish both the financial statements and the annual report after verification by the auditor and after approval by the competent authority in accordance with specific legislation, 16) within a period of 30 days of the fulfilment of the two conditions, unless specific legislation provides for a different deadline, but not later than the end of the immediately following financial year, irrespective of whether those accounting records have been approved in that manner.
(3) Entities shall also disclose the audit report and the information that the published accounting records have not, where appropriate, been approved in the manner specified in paragraph 2.
(4) Entities that are incorporated in a business register shall publish the financial statements and the annual report thereof in the collection of the commercial register documents in accordance with a separate law, 17) whereas the financial statements may be deposited as part of the annual report. Entities which, under special legislation, transmit the annual report to the Securities Commission shall transmit the financial statements and the annual report to the collection of the commercial register documents via the Securities Commission. The obligation to disclose those accounting records under this Act was fulfilled by the entity at the time of their transmission to the registry court; in the cases referred to in the second sentence, by transmission to the Securities Commission.
(5) Entities that have a verification obligation pursuant to Paragraph 20 may not disclose information that has not previously been verified by an auditor in a way that might mislead the user that it has been verified by the auditor.
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Regulation Information
| Citation | Full version of Act No. 56 / 2002 Coll., Act No. 563 / 1991 Coll., on Accounting, as resulting from subsequent amendments |
|---|---|
| Regulation Type | Declared full text |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 22.02.2002 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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