International Accounting Standards 2016 are translated into Czech. Thanks to the SAO and other professionals

Press release – 26. 3. 2018

Today, the Supreme Audit Office (SAO) has christened The Handbook on International Public Sector Accounting Pronouncements in its 2016 Czech version. It is a translation of the international accounting standards IPSAS. Thanks to this translation, Czech has become only the fourth language into which this edition was translated. The handbook was presented to the professional public at a conference called International Standards IPSAS in the Czech Republic, organized by the SAO at the seat of the Czech National Bank.

“This translation allows us to compare the accounting of various state entities to recognized international best practice; we can also make an opinion on our legislation in this area. In addition, these translated standards can also be a guideline and inspiration for us to solve certain problems or focus on areas that are not yet resolved fully in the Czech Republic. However, they are also beneficial for the audit of international organizations whose accounting is often based on these standards,” explains the SAO auditor Luboš Rokos, who specializes in accounting and financial audit and who headed the translation work. “And without the unnecessary risk of false and misleading interpretations, which can happen easily given that it is a highly specialized and specific text, and one is often burdened by their perception and experience of accounting from the national environment,” Rokos added.

The translation of international standards has been published as a two-volume publication, translated standards have approximately 2,100 pages. Translators and a nine-member Reveiw Committee, led by Mr Luboš Rokos, worked on this translation. Other members were Mr Vladimír Zelenka from the Chamber of Auditors of the Czech Republic, Mr Ladislav Mejzlík, Dean of the Faculty of Accountancy and Finance of the University of Economics, and Mr Petr Kříž, a partner of PricewaterhouseCoopers Audit. Four observers also supervised the translation. Translation work lasted almost one year.

The Handbook on International Public Sector Accounting Pronouncements will be available in a printed form at university and other selected libraries. The electronic version of the translation is available freely here.

Communication department
Supreme Audit Office

print the page

• Photo gallery