Novela zákona o účetnictví: změny v kategorizaci jednotek a povinném auditu

Last week, the Senate approved a bill amending the Accounting Act. The amendment introduces extensive changes, particularly in connection with the implementation of sustainability reporting requirements. In this overview, we focus on the practical impacts of changes in categorization of accounting entities and mandatory audits.

In accordance with the European Accounting Directive, the monetary limits for the categorization of accounting entities will be increased by approximately 25%. This step will result in many accounting entities being classified into a lower category. The threshold value for the average number of employees remains unchanged.

A change in category occurs when an accounting entity no longer exceeds at least two of the three threshold values on two consecutive balance sheet dates. The new category will apply from the beginning of the immediately following accounting period.

According to the transitional provisions, accounting entities will assess the increased threshold values for the accounting period ending December 31, 2024. Accounting entities with an accounting period coinciding with the calendar year will thus evaluate the new limits at the end of 2024 and 2025, with any change in category taking effect from January 1, 2026. The change in the law regarding the categorization of accounting entities will come into effect the day after its announcement.

The category of an accounting entity has a direct impact on the scope and form of the financial statements, as well as on the obligation for auditor verification.

From now on, an audit will be mandatory only for medium and large accounting entities. In practice, this means a significant increase in limits, with the turnover rising from CZK 80 million to CZK 240 million and the value of assets from CZK 40 million to CZK 120 million. The effectiveness of this provision of the amendment is expected from January 1, 2026.

The changes introduced by the amendment to the Accounting Act represent a shift in the approach to regulating the business environment. The increase in threshold values for the categorization of accounting entities and the redefinition of the audit obligation reflect an effort to significantly reduce the administrative burden on small and medium-sized enterprises.

However, the concerns of the professional community cannot be overlooked, as the reduction in mandatory audits may lead to a decrease in the quality of financial reporting, a limitation of transparency, and an increased risk of errors or tax optimizations.

Authors:

Kateřina Dedková

Iva Jasanská