Auditors' duties and rights

Code of Ethics (.PDF / 283kB)

Auditors' duties

In carrying out audits, the auditors must:

  • inform the statutory body of the audited entity on subject-matter and purpose of the audit and present written authorisation to carry out the audit,
  • report audit findings in a true, complete and justifiable manner,
  • draw up an audit report, and also an interim report if necessary, as well as their eventual amendments. These documents must contain, in particular, a description of the audit findings and where an infringement of legal regulations has been identified, they must also include a reference to respective provisions that were infringed. Any identified weaknesses and shortcomings specified in the interim report must also be documented in the audit report with reference to the interim report,
  • submit the audit report (interim report) and amendment thereto, if any, to the statutory body of the audited entity to get acquainted with its content,
  • enable the statutory body of the audited entity after becoming familiar with the audit report (interim report), to present, within a specified time period, written objections against the truthfulness, completeness and provability of the audit findings,
  • verify the justification of the objections and inform the statutory body of the audited entity of the result in writing; such notification shall form an integral part of the audit report (interim report). If verification of the objections reveals that they are completely or partially justified, or if additional facts having a significant impact on the contents of the audit report (interim report) are identified, an amendment to the audit report (amendment to interim report) shall be drawn up;
  • discuss the content of the report and its amendment, if any, with the statutory body of the audited entity and draw up minutes of their discussion in which the Office shall impose the statutory body of the audited entity an obligation to submit, within a specified time period, a written statement of measures taken to remedy weaknesses and shortcomings identified by the audit and a written follow-up report,
  • draw up a record of audit results and communicate its content to the statutory body of the audited entity in cases where no weaknesses or shortcomings have been detected,
  • draw up an on-the-spot audit report on the examination of the situation directly on the spot in cases where the audit findings cannot be supported by written documents; such report must be signed by all persons directly participating in the examination of the situation,
  • submit to the statutory body of the audited entity one copy of the audit report (interim report, on-the-spot audit report, a record of audit results) and amendment thereto, if any, and the minutes on audit closure meeting,
  • respect the rights of the audited entities, their employees and third parties concerned.

The duties of the auditors of the Office laid down in the paragraph 1 shall also apply, mutatis mutandis, to external experts.

The audit shall be deemed finished on the day of discussion on the report when the minutes on audit closure meeting have been drawn up or when the record of audit results has been submitted to the statutory body of the audited entity. The report shall be deemed discussed even in case where the statutory body of the audited entity has refused to sign the minutes on audit closure meeting. This fact shall be recorded in the minutes on audit closure meeting. Such refusal by the statutory body of the audited entity to sign the audit report, interim report or amendment thereto, if any, or minutes on audit closure meeting with the statutory body of the audited entity shall have no impact on the consequences arising from the conclusions contained in these documents.

The President and the Vice-Presidents shall keep confidential any information obtained in the discharge of their offices. In matters of public interest and for the purpose of providing information to the public, the President, or the Vice-President authorised by the President, shall publish the information obtained within the scope of auditing activities at least once every three months. The President, or the Vice-President authorised by the President, shall make available, upon request, the audit results of a particular audit and measures taken to remedy weaknesses and shortcomings identified by the audit, as well as the written follow-up report according to a special regulation.

Auditors and external experts shall keep confidential any facts learned while carrying out audit activities provided they are not released from this obligation, in the public interest and for the purpose of providing information to the public, in writing by the President or the authorized Vice-President. 

The duty of confidentiality shall last even after termination of the office, employment relation or performance of the activity.

This applies without prejudice to the obligation to keep confidential any facts declared secret.

Auditors' rights

While carrying out audits, the auditors shall be authorised:

  • to enter buildings, facilities and premises of the audited entities,
  • to require from audited entities, within a reasonable time period specified by the Office, the submission of summary documents and other documents and written evidence including computer-based data, irrespective of their degree of confidentiality,
  • to receive the original documents and other materials in cases where they are necessary for auditing purposes, and to acknowledge their receipt,
  • to demand from audited entities or their employees, within a reasonable time period specified by the Office, complete and true oral or written information, statements and explanations concerning the audited facts and shortcomings identified by the audit.

The authorisations of auditors laid down in the paragraph 1 shall also apply, mutatis mutandis, to external experts.