AUDIT

“It’s not just checking the books, but looking for risks that could put you at risk. We have an independent outside view, so we can identify these risks early. As auditors, we are personally involved in the audit, communicating with you, but the decision is yours.”

We offer:

• auditing the financial statements (including the annual report)
• audit for special purposes (audit of subsidies, sale or transfer of business, transformations, receivables, etc.)
• transformation of Czech financial statements or parts thereof into the format required by the foreign parent company
• auditing the accounts as a whole for companies which are obliged to have their accounts audited by law or other standards, or for companies which have their accounts audited in their own interest
• the management of the entity always receives a written report of our work on the pre-audit and audit (and, on completion of the audit, the auditor’s final letter), the contents of which include, among other things, a specification of the risks and their assessment

We specialize in:

• for-profit organizations (Ltd, Inc, cooperatives, branch establishments, etc.)
• non-profit organizations (foundations, institutes, charitable companies, associations, political parties, school legal entities, church legal entities, foundation funds, etc.)

An audit of financial statements is:

• an independent audit of the financial statements (under the rules of International Standards on Auditing)
• performed on a test basis, taking into account the materiality of the accounting transactions
• the basis for identifying risks to the entity’s operations and position
• the output is the independent auditor’s report on the audit of the financial statements (including the annual report where appropriate)

Benefits of an audit:

Owners of foreign companies often have their financial statements audited, even if it is not legally required. They want to get some assurance about the existence of their ownership and to get some insights for their decisions from the auditor’s letter.

The audit brings the same benefits to Czech owners, because only audited financial statements give some assurance to external users (suppliers, customers, banks, subsidy providers, etc.) that the data published in the Commercial Register are not fictitious.

If the law or the grantor requires non-governmental non-profit organizations to prepare an annual report that is not audited, it is a worthless document. Because only an annual report audited by an independent party is of telling value.

INDICATIVE PRICES

For each client we calculate the price according to the indicative price list of services, while the final price can be set by agreement.

Statutory audit of financial statement:

• small organization CZK 30 – 60 thousand
• medium organization CZK 60 – 130 thousand
• large organization CZK 130+ thousand

Audit for special purposes:

• minimum auditor hourly rate is CZK 1,800
• above CZK 25,000 without VAT