Selected Consequences of Unlawful Conduct in Accounting in the Context of Current Legal Regulations of the Czech Republic

This paper deals with detailed analysis of sanctions imposed in the Czech Republic for unlawful conduct concerning accounting provided for in Act No. 563/1991 Coll., on Accounting, as amended. I analyze the difference between an infraction and an administrative offence including implications for determining sanctions for particular unlawful conduct. The paper provides a brief overview of potential sanctions in relation to the facts of particular unlawful conduct and to the person who committed such unlawful conduct. I also consider the problem of administrative punishment in a wider context. There are also discussed procedural provisions which are to be followed when imposing a penalty.