IFRS 9: Interesting IFRS Interpretations Committee Agenda Decisions
In the first quarter of 2026, the IFRS Interpretations Committee issued two interesting agenda decisions regarding IFRS 9 Financial Instruments.
New obligation to publish an income tax report: Does it affect your company?
The 2023 amendment to the Accounting Act (Act No. 441/2023 Coll.) introduced a new requirement for certain reporting entities to prepare and disclose an income tax report (the so called public CbCR), including …
Public consultation on IASB proposals: An opportunity to influence the development of IFRS Standards
Currently, a public consultation is underway on two interesting exposure drafts proposing amendments to existing IFRS accounting standards, giving the public a chance to provide feedback. In particular, the dra…
New Accounting Act passed first reading in the Chamber of Deputies
The new Accounting Act and its accompanying act passed the first reading in the Chamber of Deputies of the Parliament of the Czech Republic on 12 March 2026. Experts have raised a number of objections to the ac…
IFRS EU endorsement process [February 2026]
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 16 February 2026…
IFRS 18 endorsed for use in the EU
On 13 February 2026, the new standard IFRS 18 ‘Presentation and Disclosures in Financial Statements' was endorsed by the European Commission for use in the European Union. The EU effective date is the same as t…
Sustainability reporting: from compliance to a tool for creating long‑term value
The European framework for ESG reporting is undergoing a fundamental transformation. The EU Corporate Sustainability Reporting Directive (CSRD), together with the European Sustainability Reporting Standards (ES…
Obligation to publish financial statements and other documents
A recent judgment of the Supreme Administrative Court shows that failure to publish the financial statements can lead to serious consequences. In this article, we have summarised the practical implications for …
New Accounting Act is in the Chamber of Deputies. What changes will it bring?
On 12 December 2025, the Ministry of Finance (then still headed by Zbyněk Stanjura) submitted the long‑awaited new Accounting Act, along with an accompanying act amending related legislation, to the Chamber of …