Czech Republic

Financial Reporting Obligations for Companies in Czech Republic

1. Registry for Financial Statements Submission

In the Czech Republic, companies must submit their financial statements to the Obchodní rejstřík a Sbírka listin (Business Register and Collection of Deeds). Official portal: (https://or.justice.cz).

2. Legal Forms Required to Publish Financial Statements

The following legal forms in the Czech Republic are generally required to submit and publish their financial statements in the Business Register:

  • Akciová společnost (a.s.) – Joint Stock Company
  • Společnost s ručením omezeným (s.r.o.) – Limited Liability Company
  • Veřejná obchodní společnost (v.o.s.) – General Partnership
  • Komanditní společnost (k.s.) – Limited Partnership
  • Družstvo – Cooperative
  • Státní podnik – State Enterprise
  • Evropská společnost (SE) – European Company
  • Evropské hospodářské zájmové sdružení (EHZS) – European Economic Interest Grouping
  • Zahraniční osoba – Foreign Entity (if registered in the Czech Republic)

Legal forms that are typically not obliged to publish financial statements include:

  • Fyzická osoba (OSVČ) – Sole Trader / Individual Entrepreneur (except where specific turnover/VAT thresholds trigger filing)
  • Spolek (association) – Association (only larger associations above thresholds)
  • Nadace a nadační fond – Foundation/Endowment Fund (depending on status and size)
  • Obecně prospěšná společnost (o.p.s.) – Public Benefit Corporation (depending on thresholds/public interest)
  • Příspěvková organizace – Contributory Organization (under specific public-interest/size conditions)

3. Companies Required to Audit Financial Statements

Audit obligations typically apply to medium and large entities. The table below summarizes audit rules and criteria by legal form.

Legal Form

Audit Rule

Criteria
Akciová společnost (a.s.) – Joint Stock Company Mandatory audit if meeting any 2 of 3 criteria Turnover: CZK 80 million; Total assets: CZK 40 million; Employees: 50
Společnost s ručením omezeným (s.r.o.) – Limited Liability Company Mandatory audit if meeting any 2 of 3 criteria Turnover: CZK 80 million; Total assets: CZK 40 million; Employees: 50
Družstvo – Cooperative Mandatory audit if meeting any 2 of 3 criteria Turnover: CZK 80 million; Total assets: CZK 40 million; Employees: 50
Veřejná obchodní společnost (v.o.s.) – General Partnership Audit generally not required (unless voluntarily decided) Not subject to automatic thresholds
Komanditní společnost (k.s.) – Limited Partnership Conditional (depending on structure/size) If comparable to a.s./s.r.o., apply the same 2-of-3 thresholds
Evropská společnost (SE) – European Company Mandatory audit if meeting any 2 of 3 criteria Turnover: CZK 80 million; Total assets: CZK 40 million; Employees: 50
Zahraniční osoba – Foreign Entity (registered branch) Mandatory audit if meeting any 2 of 3 criteria Turnover: CZK 80 million; Total assets: CZK 40 million; Employees: 50
Státní podnik – State Enterprise Mandatory audit if meeting any 2 of 3 criteria Turnover: CZK 80 million; Total assets: CZK 40 million; Employees: 50
Obecně prospěšná společnost (o.p.s.) – Public Benefit Corporation Conditional/Mandatory if meeting financial or public-interest criteria Depends on thresholds and public-interest role

4. Publication on the Stock Exchange

Companies listed on the Prague Stock Exchange must publish their financial statements on the exchange’s platform: Burza cenných papírů Praha (Prague Stock Exchange) (https://www.pse.cz). Oversight by the Czech National Bank (https://www.cnb.cz).

5. Deadline for Submission of Financial Statements

Deadlines depend on audit status:

  • Companies not subject to audit: Submit within 6 months after the end of the accounting period.
  • Companies subject to audit: Submit within 12 months after the end of the accounting period.

6. Partial Financial Statements Submission

Smaller entities not subject to audit may submit simplified financial statements (e.g., abridged balance sheet and profit and loss account) without certain disclosures required for larger companies.

7. Consequences of Non-Submission

  • Fines: Up to CZK 100,000 (or more, depending on severity and duration).
  • Legal actions: Possible enforcement proceedings by the competent court.
  • Striking off the register: In extreme cases, the company can be struck off the Business Register.

8. Requirements for Foreign-Owned Branches and New Companies

  • Foreign-owned branches: Must comply with Czech filing rules and may be required to submit parent-company financial statements if the parent is not registered in the Czech Republic.
  • New companies: Must submit their first financial statements after the initial accounting period (which cannot exceed 18 months).

Sources

Source Link
Obchodní rejstřík a Sbírka listin (Business Register and Collection of Deeds) https://or.justice.cz
Zákon o auditorech / Ministry of Finance (overview) https://www.mfcr.cz
Burza cenných papírů Praha (Prague Stock Exchange) https://www.pse.cz
Česká národní banka (Czech National Bank) https://www.cnb.cz
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