Audit

The primary objective of an audit is to express an opinion of a qualified independent professional – auditor – on the quality of the compiled financial statements and thus to increase its credibility for a wide spectrum of users of such financial statements. With respect to the fact that the key for each company is its business, we attempt that the audit provides, besides as mentioned above, also the information for the company management and thus helps to increase the quality and efficiency of the internal processes.

Auditing Team of Fučík & partneři

Currently our company employs 6 auditors and 10 assistant auditors. Auditors usually work in 2 to 3- member teams. The audit of each company is specific and it depends on the size of the company as well as the field of the company’s business. Our auditing teams have experience with audits of companies acting in various branches of the economics – production, trade, building, healthcare, provision of services, hotel industry, etc. Because we appreciate our clients and provide professional services, we focus on communication, openness and help in the solution of inconsistencies found within the audit, which are specified in the so-called management letter issued together with the audit report.

Auditing Services

Our company provides a comprehensive range of auditing services among which there are particularly the services mentioned below. For more detailed information on the services we provide, please contact our auditing department.

Statutory audit according to Czech accounting regulations/International Financial Reporting Standards (IFRS)

The statutory audit is the audit requested by the Accounting Act as obligatory for companies of a certain size. The statutory audit is carried out in accordance with the requirements of the International Auditing Standards and the internal guidelines issued by the Chamber of Auditors of the Czech Republic. The statutory audit is focused not only on the review of the actual reporting on financial information in the financial statements, but also on the review of the efficiency of the internal control system, the possible occurrence of a fraud and the suitability of the used accounting methods. As a matter of course, our auditing services include also the audit of the annual report and the review of the report on relations between related parties in accordance with the requirements of the Commercial Code.

Audit of the consolidated financial statements

The consolidated financial statements are compiled by the managing or controlling companies for the group of the controlled companies in accordance with the Czech accounting regulations or International Financial Reporting Standards (IFRS). When providing consulting services we offer our assistance in the compilation of the consolidated financial statements.

Due-Diligence

Due-Diligence involves the complete review of the company for potential investors who intend to acquire the reviewed company and are interested particularly in accounting and tax risks resulting from the acquisition of this investment. The result of the carried out Due-Diligence is the auditor’s report providing valuable information on the discovered risks. This report serves for the decision-making on the acquisition, or possibly for price negotiations or the possible safeguarding of business.

Review of the internal control system

When doing other review jobs, we offer also the review of the internal control system or its parts. The internal control system is the key for the correct functioning of the company as it discloses and prevents the occurrence of the possible inconsistencies within the company. The reviews carried out by us have the objective to identify the weaknesses or bottlenecks and to propose measures leading to the improvement of the efficiency of the internal control system.

Other review jobs according to the client’s request

Our company makes other review jobs according to the specific requirements with respect to the specific needs. Among these services there is for instance a special purpose audit according to another reporting framework (according to the individual national provisions, US GAAP and others). These services are provided in cooperation with colleagues from the international network of BKR consulting services, of which we are a member. We also verify only the partial financial data or processes for the needs of banks, investors, registration courts, or possibly other entities.

Our experts in the field

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