The paper focuses on distribution of unrealized profits. It identifies arguments for such a discussion. Substance of creditor protection, equivalent rights for shareholders and creditors, capital maintenance concepts and accounting aspects of these phenomena are discussed. The paper clearly...

The Czech National Accounting Board, an independent national accounting body that was established by the initiative of Czech accountants, the Chamber of Auditors, academics from the University of Economics in Prague, and the Chamber of Tax Advisors in 1999 is subject of the article. The main...

As governmental accounting standards have developed, the complexities of preparing financial statements for governmental entities have greatly increased. Providing meaningful financial information to a wide range of users is not an easy task. Adding to these challenges, the Governmental...

This paper discusses the criminal liability of auditing companies which came into force in the legal system of the Czech Republic on 1 January 2012. It explains new principles of legal regulation concerning criminal liability of corporations and actions against them and it goes on to apply these...

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...

As a reaction on bankruptcy and financial scandals of the important international corporations, the Congress U.S.A. issued in 2002 a new law – Sarbanes-Oxley Act. The important part of it deals with the regulation of auditor profession by means of a new established institution – PCAOB. This...

The paper shows the way you can in forensic practice solve problem of proving the existence of excessive trading (churning) in client securities account held by securities dealer. Mentioned securities account held derivatives also. Derivatives are especially futures, options and ETF funds that...

This article elaborates on how information is provided in the terms and conditions of various insurers and how it is related to one of potential demonstrations of information asymmetry. The aim of this article is to evaluate the level of knowledgeableness in the insurance conditions of the...

This article is dealt with changes in integration process on financial market, namely for banking and insurance market. Tendency of banks and insurance companies to develop of bancassurance brings synergic effects and intersectional stabilizer. Citizens of each country have different ideas about...

The Nobel Prize award to scientists for thier theoretical contribution to analysis of markets with asymmetrical informations has reawakened debates on the behavior and decision-making of economic player under uncertainty. Becouse insurance is an classic example of such a situation, it is used to...