All accounting records must be in Czech. All accounting records must be kept, and financial statements presented, in Czech crowns (CZK). It is possible to specify a business year-end other than 31 December.
All corporations recorded in the
Commercial Register are obliged to publish their annual statutory financial statements, annual reports and consolidated financial statements in the Commercial Register if applicable; all financial data about all Czech corporations is thus freely accessible at www.justice.cz.
All accounting units and groups are categorized depending on the following criteria: net turnover, balance sheet total, average number of employees, legal form, and other conditions. In total, there are four accounting unit categories (micro, small, medium and large).
Financial statements do not have to be audited if the accounting unit is considered a micro and at least two of the following criteria are not exceeded:
(approx. EUR 350,000);