The Czech Government introduced a new draft legislation transposing the EU Whistleblower Directive. The current proposal, which is the second draft, will probably be amended again during the legislative procedure. Legal professionals fear that the Czech Parliament will not be able to pass the bill within the transposition period as parliamentary elections are scheduled for October 2021.
Mazars, the international audit, tax and advisory firm, today releases the results of its survey of 500 audit users and decision makers from 12 countries in ‘The future of audit: market view - myths, realities and ways forward’.
- Data from 12 countries increases understanding of today’s audit market and helps dispel four ‘myths’ relating to audit’s objectives, appetite for joint audit and the role of auditors and technology
- Vast majority (93%) of audit users think audit needs to be reformed and 87% are favourable to joint audit
- Companies overwhelmingly welcome auditors expanding assurance services beyond financial reporting (96%); value a human-centric approach supported by technology to reinforce audit quality; and view boosting objectivity, confidence, and performance as primary audit goals
In a year where business has had to transform the way it meets the needs of society and the environment, family owned businesses risk falling behind, according to a new global survey of 2,801 family business owners.
While more than half (55%) of respondents saw the potential for their business to lead on sustainability, only 37% have a defined strategy in place. European and American businesses are lagging their Asian counterparts in their commitment to prioritising sustainability in their strategy. 79% of respondents in mainland China and 78% in Japan reported ‘putting sustainability at the heart of everything we do’ compared to 23% of US and 39% in the UK. Larger businesses and those owned by later generations also buck the trend, with greater focus on sustainability.
Act No. 34/2021, on screening foreign investments and the amendment of related acts, entered into force on February 3, 2021 and will take effect on May 1, 2021. The new act is a response to Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union. Protection from foreign investments did not apply throughout the entire EU, but many member states, including Germany, Austria, France and Finland, had legislation monitoring foreign investments.
CTP continues to garner strong investor interest raising €500 million in their third green bond issuance
CTP B.V. raised €500 million with their third green bond issue on February 18th 2021, increasing the total raised from Green Bonds to €1.55 billion since their inaugural issuance in September 2020.
Strategic Directions for Czech Economic Policy
- 1) Transition to High-Tech Manufacturing
- 2) The City Campus as Idea Factory
- 3) Government Programs That Drive Innovation
- 4) Government as a Competitive Advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.