On 26 October 2022, the website of the Ministry of Finance of the Czech Republic published information on the inter-ministerial comment procedure on the draft Accounting Act.

The Ministry of Finance has drafted a bill that is intended to represent a “revolution” in accounting, as the current version of the law dates back to 1991 and is therefore outdated. The professional community has long been talking about the need for a modern document that would, among other things, be linked to international accounting standards.

On the websites listed below, you can find not only the given draft, but also related documentation, such as the explanatory memorandum.

https://www.mfcr.cz/cs/o-ministerstvu/verejne-diskuze/2022/meziresortni-pripominkove-rizeni-k-navrh-49074/

We will keep you informed about further development.

Author: Petra Čechová