Audit

Confidence in your financial statements

As your business grows, so does the pressure on accurate financial reporting, compliance with applicable accounting standards (Czech accounting regulations or International Financial Reporting Standards “IFRS”), and regulatory requirements. In practice, however, a gap often arises between the information management needs for high-quality decision-making and what accounting data actually reflects.

As an experienced audit firm in the Czech Republic, we help companies meet both statutory and group audit requirements, improve the quality of financial reporting, and strengthen trust in financial information.

Inaccurate financial statements, an unprepared audit, or non-compliance with regulatory requirements in the Czech Republic can lead in particular to:

• regulatory penalties,
• loss of trust from investors and financial institutions,
• delays in financing, transactions, or expansion.

We provide audit and assurance services in the Czech Republic focused on the independent verification of financial statements and selected financial information in accordance with Czech legislation and International Standards on Auditing (ISA).

We deliver comprehensive audit and assurance services in the Czech Republic that combine:

• compliance with regulatory requirements,
• a high level of professional expertise,
• practical understanding of your business,

Learn more about our statutory audit services in the Czech Republic

Financial audit in the Czech Republic

A financial audit is an independent examination of financial statements conducted in accordance with International Standards on Auditing (ISA), with the aim of providing reasonable assurance that the financial statements are free from material misstatement and present a true and fair view of the company’s financial position.

A financial audit can be:

• mandatory (statutory audit), or
• voluntary, required for example by an investor, bank, or parent company.

The scope of an audit typically includes:

• verification of financial statements (Czech accounting standards / IFRS),
• assessment of applied accounting policies and significant accounting estimates,
• identification of key risks and discrepancies,
• issuance of an audit report intended for company owners and other stakeholders.

We support both Czech companies and international groups with operations in the Czech Republic.

Statutory audit in the Czech Republic

A statutory audit is a financial audit required by Czech legislation for companies that meet legally defined criteria or are part of a consolidated group.

We perform statutory audits with an emphasis on:

• full compliance with Czech legal and regulatory requirements,
• efficient planning and management of the audit process,
• clear communication of audit findings and conclusions.

For our clients, we deliver in particular:

• assurance of compliance with legal obligations,
• reduction of regulatory and reputational risk,
• transparent and well-structured audit process.

Audit of financial statements under IFRS/US GAAP and group audits

Companies operating in the Czech Republic within international groups face increased requirements for reporting coordination and the quality of financial information.

We provide:

audits of financial statements prepared under IFRS/US GAAP,

support with group and consolidated reporting,

reconciliations between Czech accounting standards and IFRS,

efficient cooperation and communication with the group auditor.

Check also: Statutory audit of Czech companies owned by Polish firms

Relationship between audit and internal control systems

As part of a financial audit, we assess relevant elements of the internal control system in order to identify risks of material misstatement and determining an appropriate audit approach.

We focus on:

• internal control systems,
• quality and consistency of financial data,
• reporting efficiency,
• risk management.

An experienced auditor helps identify risks early and supports clearer communication with investors, lenders, and stakeholders within the group.

Due diligence and special audit services in the Czech Republic

Audit services in the Czech Republic also support strategic business decisions:

• financial due diligence,
• internal audit,
• compliance audit.

Planning an acquisition or investor entry in the Czech Republic? We’ll prepare you for due diligence without unpleasant surprises.

Contact us

Internal audit: strengthening internal controls and risk management

In addition to statutory audit, we also provide internal audit services that help companies systematically improve their internal control environment, risk management, and process efficiency. Internal audit is particularly suitable for companies that want to gain an independent view of key operational activities or are preparing for increased group requirements or regulatory demands.

Our support includes the design and implementation of internal audit functions, targeted reviews of selected processes, and ongoing cooperation focused on strengthening internal controls.