Auditors and statutory audits are now subject to new
regulations.
One change affects all businesses whose annual or consolidated
accounts are subject to a statutory audit. It requires the
appointment of statutory auditors to be made by the supreme body
(ie shareholders in general meeting for a.s. and s.r.o. companies).
Currently, auditors are usually appointed by the directors.
The change applies to all accounts dated 1 January 2011 onwards
(and any before that date for whom the auditors were not appointed
when the regulations took effect on 14 April 2009).
Stricter statutory audit requirements will also apply to
"public interest" bodies, the transparency and
objectivity of whose audits are subject to increased public
interest. They are required to:
