Czech Statutory Auditor Exam study plan
Czech Statutory Auditor Exam · Give each week a clear focus.
8 weeks · About 6 hours per week
Financial accounting and financial statements (IFRS and Czech GAAP)
Map the structure of a full IFRS financial statement set (statement of financial position, profit or loss and OCI, changes in equity, cash flows, notes) and write a one-page skeleton from memory.
Distinguish recognition, measurement, presentation and disclosure requirements for PPE, intangible assets and investment property, and record the Czech GAAP differences that change the numbers.
Apply the cost model versus revaluation model to a worked example and compute the deferred tax effect of the chosen model.
Reconcile Czech accounting legislation (zákon o účetnictví) and accounting decrees with IFRS presentation for a joint-stock company, listing at least eight concrete divergences.
Your checkpoint
A two-page comparison table of IFRS versus Czech GAAP treatment for at least ten balance-sheet and P&L items, with the reference standard or decree cited for each.
Financial accounting and financial statements (IFRS and Czech GAAP)
Compute revenue recognition under the five-step model for a multi-element contract, including variable consideration and contract liabilities.
Calculate impairment of a cash-generating unit, allocate the loss across goodwill and other assets, and reverse it where permitted.
Prepare lease accounting for lessee and lessor, including the Czech GAAP operating-lease contrast and the tax base of the lease liability.
Draft the consolidation workings for a simple group: control assessment, full consolidation, non-controlling interests and intra-group eliminations.
Your checkpoint
A closed-book set of numerical answers to ten IFRS computation tasks (revenue, impairment, leases, consolidation, deferred tax, provisions, financial instruments, inventory, foreign currency, EPS), scored and annotated with every error.
Auditing standards, audit methodology and audit risk
Explain the audit risk model and set materiality (overall, performance, clearly trivial) for a given entity, justifying the benchmark and percentage.
Translate five ISA requirements (risk assessment, audit evidence, going concern, subsequent events, written representations) into concrete audit procedures.
Design a substantive test programme for revenue cut-off and inventory existence, stating the assertion tested and the sampling approach.
Classify a list of deficiencies as control deficiency, significant deficiency or material weakness and describe the audit response.
Your checkpoint
A written audit strategy memo for a fictional manufacturing client: materiality calculation, significant risks identified, planned responses and evidence sources.
Auditing standards, audit methodology and audit risk & Professional ethics, independence and the statutory auditor's legal position
Sequence the audit file from engagement acceptance through the auditor's report, and state what documentation each stage requires.
Identify the threats to independence (self-interest, self-review, advocacy, familiarity, intimidation) in eight short scenarios and select the safeguard or the refusal to act.
Apply the Czech statutory framework - the auditor's act, the chamber's professional standards and the public oversight rules - to questions of appointment, rotation and removal.
Draft the key audit matters section and the going-concern paragraph for a listed-entity audit report.
Your checkpoint
A completed independence and ethics case file: eight scenarios, each with the threat identified, the relevant rule cited and the documented conclusion.
Professional ethics, independence and the statutory auditor's legal position & Business law and corporate governance
Outline the statutory auditor's duties regarding money laundering, confidentiality, professional liability and reporting to the regulator.
Compare the governance models of a joint-stock company (two-tier board with supervisory and management boards versus one-tier with an administrative board) and state the auditor's reporting lines in each.
Explain shareholder rights, general meeting powers, capital maintenance and the rules on conflicts of interest and related-party transactions.
Summarise the insolvency-law triggers and the director's duty to file for insolvency, and link them to the going-concern assessment in the audit.
Your checkpoint
A one-page decision tree covering auditor appointment, removal, rotation and liability, plus a governance checklist of ten items to verify at a client.
Tax law and tax accounting & Financial management, management accounting and internal control
Compute corporate income tax for a Czech company from accounting profit, applying non-deductible items, tax depreciation and loss carry-forward rules.
Reconcile deferred tax balances to the tax return and explain the treatment of tax versus accounting depreciation differences.
Build a variance analysis and a contribution-margin calculation, and interpret the results for the audit of management accounts.
Evaluate a five-component internal control framework and design a test of the sales and purchasing cycles.
Your checkpoint
A tax computation and deferred-tax reconciliation spreadsheet for a fictional client, plus a one-page internal-control weakness report with recommended remediation.
Information technology and audit data analytics & Insolvency, restructuring and forensic accounting
Describe how general IT controls, application controls and the IT environment affect the audit approach, including the response when IT controls fail.
Plan a data analytics procedure over a full journal-entry population, defining the tests for unusual postings, round amounts and period-end entries.
Distinguish insolvency, reorganisation and debt relief, and state the auditor's role and reporting duties in each.
Design forensic procedures for revenue fraud and asset misappropriation, including interview planning and evidence chain of custody.
Your checkpoint
A journal-entry testing plan with the exact analytics tests, expected outputs and the follow-up procedures for each red flag identified.
Public sector and non-profit audit
Apply the public-sector audit framework and the modified accrual basis to a municipality's budget and closing account.
Explain the compliance and performance audit approach for public funds, and the reporting obligations to the supreme audit institution.
Identify the specifics of non-profit entity accounting and audit, including fund accounting and donor restrictions.
Answer timed mixed-domain questions under exam conditions and review every error against the source standard.
Your checkpoint
A full mock exam under timed conditions, scored by domain, with a written remediation list for every domain scoring below 70 percent.
Milestones
Week 2: Score at least 70 percent on the closed-book IFRS computation set and reproduce the IFRS versus Czech GAAP comparison table without notes.
Week 4: Produce the audit strategy memo and the ethics case file unaided, citing the correct standard or rule for each conclusion.
Week 6: Complete the tax computation and internal-control report with no arithmetic errors and correctly reconcile the deferred tax balance.
Week 8: Score at least 70 percent overall on the timed mock exam with no single domain below 60 percent, and hold a written remediation plan for the weakest two domains.