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GAE 2012 Czech Republic
Country Characteristics of the Czech Republic
Total population (millions)
10.1 (2013)
GDP per capita (USD)
Business language
Legal system
Economic position
27,200 (2012) (ranked 55 in the world)
Czech
Civil law
Innovation driven
Regional affiliations
EU, OAS (observer), OECD, UNCTAD
Accountancy Profession in Czech Republic
Chamber of Auditors of the Czech Republic (CACR)
IFAC membership
Full member
Affiliations
Fédération des Experts Comptables Européens (FEE)
Part I (2005), part II (2006), part III (2013)
IFAC compliance information
Qualification
Auditor
Address
Opetalova 55, 11100 Praha 1, Czech Republic
Tel: +420 224 212, 670Fax: +420 224 211 905,
[email protected], www.kacr.cz (Czech, English)
Recognition
In the Czech Republic EU regulation for recognition of auditors is
applicable. The CACR does not have additional MRAs with other PAOs.
Accountancy Education in the Czech Republic
The Chamber of Auditors of the Czech Republic (CACR) is the professional body of auditors. The title of auditor
is protected by law. To obtain an auditor ´s certificate and be registered in CACR register of auditors, one must
pass examinations in subjects determined by the Act on Auditors Examination. Candidates must have obtained at
least a bachelor's degree and work for the minimum of three years as an audit assistant. The scope of examination
is determined by the Act on Auditors and details are specified by CACR. Preparatory courses for each examination
are organized by the Audit Examination Committee of CACR that is an auxiliary body to the Executive Committee.
All CACR members shall complete 40 hours, or its equivalent, of continuing professional development each year.
Czech requirements for auditors comply with EU regulation; the auditor qualification is recognized in other EU
countries. The CACR closely cooperates with the Union of Accountants, that is also a full member of IFAC. The
separate qualification of accountant is not considered in the analysis below.
Characteristics of Accountancy Education
Certification Requirements
Program of professional accountancy education
Practical experience requirement
Final assessment of professional capabilities
CPD
Providers of Professional
Professional accountancy organization and universities
Education
Responsibility for Education
Government with the profession
Requirements
Licensing Requirements for
Academic study, professional examination and CPD
Auditors
Compliance with International Education Standards
Level of compliance with IES
Adoption
Implementation
High
High
Personal Development
High
High
Professional Accountancy Education
High
High
Professional Development
High
High
Competence for Audit Professional
Sub-Pillar Scores - Czech Republic
Personal Development
1,00
0,80
0,60
0,40
Competence for Audit
Professionals
0,20
0,00
Professional
Accountancy Education
Professional
Development
Adoption
Implementation