Audit services
Czech statutory audit
A statutory audit is conducted in accordance with International Standards on Auditing including application guidelines issued by the Chamber of Auditors of the Czech Republic.
In cooperation with our clients we try to understand their business and systems. Based on this analysis, we are able to identify possible business risks which should be properly managed. Our audit is focused on the review of these key areas of risk which could result in inaccurate financial statements. While conducting audits, we take advantage of the strong analytical thinking abilities of our auditors which is a very important part of the audit process. Our objective is to issue independent, timely and reliable audit opinions based on leading-edge audit quality.
We usually suggest structuring the audit into two phases:
Interim audit
During Interim Audit special attention is paid to identifying key audit areas, reviewing internal control systems, including the identification and assessment of their effectiveness, and analysing the economic nature of the issues under review.
Final audit
The Final Audit includes an examination, on a test basis, of the completeness and correctness of the recording of accounting documents, an assessment of the methods and significant estimates applied by the Client, and a general presentation of the financial statements.
Audit of financial statements in accordance with IFRS
This service is intended mainly for companies that wish need or are obliged by Czech law, to report their individual or consolidated financial statements under International Financial Reporting Standards (IFRS). The objective of the audit is to determine whether the financial statements have been prepared in accordance with IFRS. The procedure for conducting this audit is similar to that of the statutory audit.
Audit or review of documents required for consolidation in a parent company
Companies that are part of a group often prepare special documents (sets of tables and information) required by the parent company or by its auditor for the purpose of consolidation within the group. BTCR Audit will verify the “consolidation reporting package” set up under IFRS or other GAAP for the Client and will provide the Client all necessary communication with the group’s auditor, including the completion of all forms, questionnaires and memos that are required.
Special engagements
Our services particularly include:
- Review of financial statements
- Verification of interim financial information
- Audit for special purposes
- Audits in connection with increasing and decreasing of registered capital
- Verification of drawing grants
Baker Tilly name is a trademark of UK firm Baker Tilly used under licence.
