On 4 April 2025, the European Securities and Markets Authority (ESMA) published a report on the enforcement and regulatory activities of financial reporting enforcers within the European Union in 2024.
In late September 2024, we informed you about the Government’s proposal to amend Act No. 563/1991 Coll., on Accounting (the “Accounting Act”). Since then, several developments have occurred. In this article, we…
For the accounting period beginning on or after 1 January 2024, amendments to IAS 1 titled Non-current Liabilities with Covenants are effective to clarify how the conditions with which an entity must comply wit…
When preparing financial statements, certain areas may present interpretational challenges. This article examines two such areas—revenue recognition and the recharging of expenses.
We bring two interesting final agenda decisions issued by the IFRS Interpretations Committee in 2024. The first concerns the merger between a parent and its subsidiary, and the second concerns the question of w…
Not much has been happening lately in the accounting field, aside from the upcoming new Accounting Act, but it is already clear that, since it has not yet been presented to the Parliament, it will most likely n…
The version of the illustrative consolidated financial statements under IFRS Accounting Standards as adopted by the EU prepared by the Prague office of Deloitte is available on Deloitte’s website in both Czech …
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 January 2025.…
On 18 December 2024, the International Accounting Standards Board (IASB) issued 'Contracts Referencing Nature-dependent Electricity (Amendments to IFRS 9 and IFRS 7)'. The amendments are effective for annual re…