Auditors Profession in Czech Republic

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Auditors Profession in Czech Republic

• Vladimír Králícek
• president
• The Chamber of Auditors of Czech Republic

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• Historical events in 1989 - challenge for our
  profession
  
• Union of Auditors (1990)
• Chamber of Auditors (1993)

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• IFAC (1994)
• FEE (2002, after six years as correspondent
  member)
  

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Legal arrangements of audit in Czech Republic

• Act 254/2000 Coll.
• (based on the 8th EU Directive Nr. 84/253/EEC
  issued in April 1984)
  

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Auditing services

• Audit of financial statements or consolidated
  financial statements and annual reports
  
• The verification of other facts according to
  special laws or bylaws
  
• The verification of other economic information
  specified in contract with client

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Auditors

• A person or company listed on the list of
  auditors in Chamber of Auditors of Czech
  Republic
  
• Person
• - university graduation
• - exams
• - 3 years practical experience as assistant
  auditor
  

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Chamber of Auditors of Czech Republic

• List of auditors, assistants and companies
• Education and Exams
• CPD
• Quality Control
• Standards and Code of Ethics

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Organisational Structure of CACR

• General Assembly
• Council
• Supervisory Board
• Disciplinary Board
• Committees and Boards

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Statistics

• Auditors 1264
• Assistants 1032
• Companies 329

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Statistics

• Total turnover about 3 mld CZK
• 100 mio EUR
• BIG 4 52
• SMP firms 37
• Individuals 11

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Our commitments towards SMP

• Implementation of ISAs
• New manual for SMP
• Czech legal environment