In April 2026, the National Accounting Council (NAC) issued Interpretation I-54: Measurement of Financial Investments in Contributions and Spin-offs (the “Interpretation”), addressing practical issues in accoun…
On 23 March 2026, the National Accounting Council approved a new Interpretation I-53 Accounting for investments using the equity method in separate financial statements. In the following article, we summarise t…
We have already informed you that the thresholds for the categorisation of reporting entities have been increased and that the mandatory audit requirement for small reporting entities has been abolished. Many c…
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 …
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…
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 …
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 …
On 13 November 2025, the European Parliament voted in favour of the Omnibus package that was proposed by the European Commission (EC) in February 2025. The “omnibus” proposals are designed to boost EU competiti…
On 2 September 2025, Act No. 317/2025 Coll. was published in the Collection of Laws, concerning the establishment and operation of a European single access point (ESAP). This Act introduced, among other things,…