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 …
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 …
This article provides a high-level overview of the new and revised IFRS® Accounting Standards effective for the December 2025 calendar year-end and subsequent accounting periods.
On 13 November 2025, the International Accounting Standards Board (IASB) issued 'Translation to a Hyperinflationary Presentation Currency (Amendments to IAS 21)'. The amendments are effective for annual periods…
On 14 October 2025, the European Securities and Markets Authority (ESMA) announced the priority issues that the assessment of listed companies’ 2025 financial and sustainability statements will focus on.
On 23 June, the International Accounting Standards Board (IASB) issued a revised Practice Statement on management commentary to support improvements to management commentary and similar reports, including a g…
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.