Accounting Audit in the Czech Republic
AMS, based in Prague, provides professional financial and accounting audit services to companies in the Czech Republic. We conduct all types of audits related to financial activities, including statutory accounting audit, internal audit, AML compliance audit, specialized financial audit for crypto companies, and others.
Our audit reports fully comply with the standards established by the Chamber of Auditors of the Czech Republic.
Main Services in Accounting and Financial Audit
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Internal audit to identify risks and assess compliance with internal and external requirements
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AML compliance audit (Anti-Money Laundering)
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Financial audit for cryptocurrency companies under MiCA regulation
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Statutory audit required by law
Main Stages of Accounting Audit by AMS:
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Defining goals and objectives based on the client's needs
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Analyzing financial operations and documentation
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Comprehensive audit of accounting records and financial statements
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Verification of tax and financial reporting for compliance with current legal requirements
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Identifying errors, assessing risks, and providing recommendations for their elimination
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Preparing a detailed audit report with specific recommendations
Following the audit, our team is also ready to assist practically in addressing identified deficiencies and implementing recommended improvements. We also provide a full range of accounting services to support the financial management of your company.
The cost of an audit is determined individually, based on the audit scope, period, documentation quality, and urgency.
Contact AMS for a consultation and a personalized offer.
Statutory Accounting Audit in the Czech Republic
As of January 1, 2025, new thresholds apply for statutory accounting audits. If a company is classified as a small accounting unit (malá účetní jednotka), it is required to undergo a statutory audit if it meets at least two out of the following three criteria for two consecutive accounting periods:
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Annual net turnover exceeds CZK 240 million
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Total assets exceed CZK 120 million
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Average number of employees exceeds 50
For medium and large accounting units, the audit is generally mandatory regardless of these thresholds.
The standard duration of an accounting audit is typically between 4 and 8 weeks, depending on the readiness of documentation, complexity of operations, and business structure. AMS conducts independent statutory audits in Prague and throughout the Czech Republic, providing clients with an official written audit report (in Czech, with translation if needed), in compliance with ČKA standards (Chamber of Auditors of the Czech Republic) and international ISA standards.
Audit results must be submitted to the tax authorities and the Commercial Register and can also be used in negotiations with banks, counterparties, and investors as evidence of the company's financial stability.
Financial and Accounting Audit for MiCA Compliance
The financial audit of cryptocurrency companies is conducted as part of CASP licensing preparation or during annual mandatory reporting, as required by the MiCA Regulation.
AMS offers a full range of services for conducting such audits, from reviewing financial metrics to preparing the necessary asset confirmation documentation.
The audit timeline usually ranges from 3 to 6 weeks, depending on the company's size and the specifics of crypto operations. The cost of services is determined individually, depending on the complexity of operations, the need to verify on-chain assets, and the technical accounting structure.
The results are formalized in an official audit report and submitted to public authorities as proof of regulatory compliance.
Contact us for a consultation regarding the financial audit of your crypto company and find out which documents you need to prepare.
Internal Company Audit
Internal accounting audits help companies assess compliance with current internal and external requirements, identify potential financial and tax risks, and improve accounting and tax processes.
As part of the audit, AMS specialists:
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Analyze the internal accounting structure and control system
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Verify the accuracy of financial and tax reporting
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Identify potential risk areas
The typical duration of an internal audit is between 2 and 4 weeks, depending on the objectives and information availability.
The cost of the internal audit is determined individually, based on the client's goals, business size, and audit complexity.
Upon completion, the client receives a report detailing identified risks and concrete recommendations for improvement. AMS is also ready to assist in implementing these recommendations.
Internal audit results are intended solely for internal use and are not submitted to public authorities.
Get a professional consultation with our experts and learn more about the benefits of internal auditing.
Objectives Achieved Through Accounting Audit
Conducting an accounting audit with AMS allows you to:
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Quickly detect and correct errors and risks
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Minimize tax and financial risks
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Prepare for inspections by supervisory authorities
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Prepare mandatory audit documentation for submission to Czech public authorities
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Optimize accounting and tax processes
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Increase business investment attractiveness
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Verify the competence of the accounting department
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Obtain accurate and complete information about the company's financial condition
AMS guarantees a professional approach, confidentiality, and high quality in financial and accounting audits.
Contact us for a consultation and to discuss your needs.