Deadlines for the fulfillment of obligations in relation to the financial statements and the annual report
We provide you with an overview of deadlines for the preparation, presentation, audit, review, approval, filing and publication of financial statements and annual report.
A summary of the situation as of 1 January 2020 is set out below. We updated our News 2017/03 as a result of the amendment to the Act on Accounting by Act No. 363/2019 Coll. of 15 October 2019 amending, from 1 January 2020, the criteria for the obligation to have financial statements audited by an auditor and introducing the obligation to have compliance of a statement of selected data from financial statements prepared according to the IFRS as adopted by the EU with the financial statements audited by an auditor. For more information regarding this amendment, please see our News of December 2019.
Furthermore, the obligations of a simplified joint-stock company and a branch have been added. The summary only concerns companies (joint-stock companies, simplified joint-stock companies, limited liability companies, limited partnerships, general partnerships) that are entrepreneurs; it does not reflect the specific requirements and regulations applicable to other accounting entities, for example, banks, insurance companies, state-owned enterprises, cooperatives, etc. or other special legislation,
for example, the Act on Securities etc.
The obligations concerning a simplified joint-stock company are, in essence, similar to those of a joint-stock company, as transpires from Article 220h (3) of the Commercial Code: Unless otherwise provided in this Chapter, the provisions of Section Five of this Chapter of the Commercial Code concerning a joint-stock company should apply accordingly to a simplified joint-stock company.
Deadlines are available here.