Statutory audit
Audit activity of this type is subject to extensive regulation by international auditing standards and
professional regulations of the Chamber of Auditors of the Czech Republic. I try to conduct the audit efficiently with utilization
modern tools and digital technology so that, especially when processing a large amount of data
there was no waste of time resources for the client.
I perform audit work both at the client's place and in the office, always in close contact with the client.
As part of the implementation of the audit, weaknesses and inefficiencies are identified and company risks are revealed,
which allows me to raise the meaning of the audit higher.
I can thus provide the client with a wider spectrum of findings than the condition of the compiled financial statements.
- Statutory audit of individual and consolidated financial statements prepared in accordance with Czech accounting regulations
- Statutory audit of individual and consolidated financial statements prepared in accordance with IFRS
- Audit of interim financial statements
- Verification of annual reports, verification of related party reports
- Verification of consolidated packages, management reports
Management review
My previous experience includes the implementation of management reviews for entities affected by the legislation.
This activity (as well as the statutory audit) has relatively precisely defined legislative parameters
the control process, the subject and aspect of the review and the outputs that should arise from the control.
Even though it is an order with a limited degree of certainty (a lower degree of certainty than in the case of statutory
audit), the activities that the auditor performs as part of the management review are very similar to those
which it carries out as part of statutory audits. Here, too, I observe a growing interest in higher added value
management review by clients, interest in professional consultations and sharing of experience and knowledge,
which the auditor acquires through his practice.
I review the management both at the client's place and in the office, always in close contact with the client.
I try to use modern tools and digital technology, especially considering the possibilities of the client.
By working with data, I can very effectively test recurring activities and especially logical links between financial statements,
the budget and budget implementation report.
Given the very strict terms and deadlines that these entities usually have to follow,
I try to adapt to the client's time requirements as much as possible.
Consulting in the field of accounting and professional opinions, preparation of consolidated financial statements
This is a wide range of activities that I implement as the clients' needs arise - from the narrow
from a specified query to an analysis of the accounting accounting system consisting of identification
its weaknesses and settings so that it meets legal requirements, is effectively implemented and provided
information that the client needs.
The existence, up-to-dateness and functionality of internal company guidelines, with the creation of which I can help, are very important.
I benefit from my experience and knowledge, and with each one I grow professionally and improve the quality of my services.
My goal is for the client to get from my service what he expects and in the form he expects.
I perform the activity personally, in close contact with the client and his representatives/employees,
I clearly and comprehensibly report partial results, work progress and deadlines/milestones that
were entered. Expert opinions contain a clear and comprehensible conclusion, including its justification.
Corporate reporting and controlling, planning
I focus in particular on small and medium-sized companies, which often do not have these management activities in place yet or have them, but their status and outputs do not satisfy the management. An important aspect is to perceive very well the needs of the management and the goal to be achieved.
I proceed systematically in my activities (see graphic)
The output is not a report or an opinion, but a functioning system of corporate reporting and controlling.
The creation of reporting and controlling very often also includes the incorporation of corporate planning into individual structures/levels of corporate management and their subsequent motivational involvement of managers.
These activities are a complex system of business management, and its results very often surprise managers and company owners themselves.
And last but not least, the outputs of these activities provide valid data for calculations.
If you are concerned about the quality of the reported data, feel limited in your decision-making within the daily as well as strategic management of the company, or if you just want to know more, do not hesitate to contact me.
Mergers, acquisitions, business combinations, transaction consulting, setting up relationships within a group of companies
In the field of transaction consulting, decision-making in the field of mergers and acquisitions, tax and legal
structuring and pre-investment reviews, I offer an individual approach in cooperation with other experts on the given issue.
This cooperation enables clients to obtain a comprehensive solution to the situation without the need to contact several experts separately.
If you intend to invest in a new company, restructure the group's activities, establish a new company or carry out other business activities
transactions, then these are usually complex activities, which affect several areas – business law, tax law, accounting regulation, the need for professional reviews, etc.
In these contracts, I collaborate with JUDr. Jan Malý from Advokátní kancelář Hartmann, Jelínek, Fráňa a partneři, s.r.o. ,
which is a renowned lawyer with many years of experience focusing on commercial, civil, insolvency and criminal law.
In the field of tax issues, my long-term partners are experienced tax advisors from the company UNIVERSAL TAX SERVICES s.r.o.
who have high expertise in direct and indirect taxes and procedural tax law.
Tax and legal advice and consultation
It is comfortable and time-efficient when the client is solving a more complex problem that requires supervision
also to its tax and legal aspect, if it finds all services in "one house".
I have been working with experienced tax advisors from UNIVERSAL TAX SERVICES s.r.o. for a long time,
who have high expertise and rich experience in direct and indirect taxes and procedural tax law.
It is experience in regular tax consulting and preparation of tax returns, but also in representing clients in case of disputes with the tax office.
In the field of legal advice, I collaborate with JUDr. Jan Malý from Advokátní kancelář Hartmann, Jelínek, Fráňa a partneři, sro ,
which is a renowned lawyer with many years of experience focusing on commercial, civil, insolvency and criminal law.
ESG and sustainability
ESG represents 3 pillars (environmental, social and governance). These are thematic areas,
which the company is expected to report.
The goal of ESG is to capture the activities of companies not from the perspective of finance, but from the perspective of sustainability and social impact.
ESG reporting was adopted to achieve a sustainable approach to business and investing in general.
Currently, this is a relatively fresh issue regarding anchoring in European and Czech legislation.
However, the following applies:
The sustainability report will therefore be processed in the foreseeable future by:
- All large, medium and small companies whose securities are traded on the stock exchange.
- Other companies that meet at least two of the three conditions:
- More than 250 employees;
- Turnover over EUR 50 million;
- Value of assets over EUR 25 million.
According to estimates, approximately 1,100 Czech companies will compile the report, but not every one is required to do so
it will happen as early as 2024. Mandatory ESG reporting is introduced gradually according to the size of the company,
in several stages:
- From 2024: Companies that until now published sustainability reports based on the original NFRD directive.
These are more than 20 of the largest Czech companies (e.g. ČEZ, Škoda Auto, Kofola or Česká spořitelna).
- From 2025: Other companies that meet two of the three conditions above.
- From 2026: Small and medium-sized companies traded on the stock exchange.
The ESG report will be part of the annual report that you publish as part of the financial statements.
Sustainability reports are subject to independent external verification. The Chamber of Auditors of the Czech Republic is currently carrying out
education and verification of acquired knowledge for auditors who will be interested in expanding their auditing skills
authorization for this activity (without meeting the conditions defined by the CAČR, the auditor will not be able to
verification of ESG reporting). I systematically prepare and go through the KAČR qualification process with a goal
in the course of 2025 at the latest to obtain this authorization and offer these services to clients.