A statutory audit is not just a formal check of numbers. By law, the auditor must verify whether the financial statements give a true and fair view of the company’s financial position and performance. To fulfil this obligation, the auditor has the legal right to request necessary documents, information, and explanations from the audited entity.
Legal framework of audit requirements
The primary legal regulation is Act No. 93/2009 Coll., on Auditors, in particular:
• Section 21 – Obligations of the audited entity, which requires the company to:
o provide the auditor with access to all accounting records,
o provide required documents, information, and explanations,
o ensure conditions for proper performance of the audit.
The auditor does not act arbitrarily – their work follows the International Standards on Auditing (ISA), which are binding in the Czech Republic through the Chamber of Auditors (e.g., ISA 200, 230, 500, 580).
Most commonly requested documents
The scope varies depending on the size, industry, and risk profile of the company. Typically, auditors request:
– accounting and financial records,
– contracts and agreements,
– tax documentation,
– internal policies and processes,
– and finally a Management Representation Letter required under ISA 580, in which the statutory body confirms the completeness and accuracy of information provided.
Auditor’s duty of confidentiality
Clients often express concerns about sensitive information. It is essential to stress that the auditor is legally bound by confidentiality.
Under Section 15 of Act No. 93/2009 Coll., the auditor must keep confidential all matters learned during the audit. This obligation:
• continues even after the audit is completed,
• applies to all employees of the audit firm,
• can only be waived in legally defined cases (e.g., obligations to oversight authorities).
Is the auditor entitled to request documents?
Yes. Audit requests are not “recommendations” but a legal entitlement arising from the Auditors Act, ISA standards (especially ISA 500 – Audit Evidence), and the auditor’s responsibility for the audit opinion.
Failure to provide complete documentation may result in a scope limitation, qualified opinion, or even disclaimer of opinion.
Conclusion
The auditor:
• must perform the audit in accordance with the law and ISA,
• has the right to request all relevant documents and information,
• is bound by strict confidentiality,
• works within a clear legislative and professional framework.
Timely and open cooperation with the auditor is not just a legal duty — it helps avoid complications and enhances the value of the audit.
