Politics & Policy|Economy
Kateřina Menzelová|09.05.2012

Czech state accounts neither ‘uniform’ nor totally reliable, NKÚ warns

Czech state bodies and institutions’ key financial statements will be used to calculate the debt and deficit of public finances. Such highly sensitive information helps the markets predict whether the state can meet its commitments — but not all the data are wholly reliable, the Supreme Audit Office (NKÚ) warns. Clear definitions of basic accounting concepts are missing, which can lead to different interpretations of these categories and thus incomparable data. Look to Greece to understand what that can mean.

Politics & Policy|Society
Brian Kenety|13.04.2012

MPs Bárta and Škárka found guilty in bribery case

A Prague court has given Public Affairs (VV) founder MP Vít Bárta a suspended sentence for having tried to bribe then fellow party members via interest-free loans for their “silence and loyalty”; Jaroslav Škárka, who accepted the money, was given three years in prison and banned from serving in parliament for 10 years. The verdicts are subject to appeal.

Tom Jones|21.03.2011

Verdict in trial of chief auditor expected Friday

Supreme Audit Office (NKÚ) president František Dohnal stands accused of misusing public funds by renting unjustifiably expensive apartments since taking up the post in 2005. The state prosecution claims that Dohnal has caused material damage to the state amounting to Kč 1.1 million. If found guilty, Dohnal — who claims the case is political — could face up to five years in prison.

Politics & Policy|Real Estate
Kateřina Menzelová|09.03.2011

PPP ‘wrong choice’ for National Technical Library

The National Technical Library (NTK) in Prague 6 was the first large public building to be erected in the Czech capital in almost 20 years. The critically acclaimed new library, which opened in 2009, should be an object of pride for the city. Yet it is also the cause of some embarrassment — a Supreme Audit Office (NKÚ) inspection into the realization of the project has drawn damning conclusions.

Martin Shabu|03.02.2011

Supreme Audit Office to inspect Czech Export Bank

The Supreme Audit Office (NKÚ) tells Czech Position that a planned thorough inspection of the Czech Export Bank (ČEB) is standard procedure — and long overdue. Nevertheless, fewer than six months ago the former director of the bank resigned amid allegations of attempting to favor certain companies.