About This Service
Corporate record keeping is a bundle of duties established by the Law on Entrepreneurial Societies: the publicity of the registry and publication (Article 13), accounting and audit (Article 56), storage of a liquidated society's documentation (Article 89), the share register (Article 162) and the minutes of the general meeting (Article 200). This page explains which data are public, within what terms and with what content the minutes are drawn up, who keeps the share register and how, and how long documentation survives liquidation.
Publicity of the Registry and Publication
Under Article 13, data registered in the registry are public: any person may examine them and receive an extract from the registering organ. The extract is issued within the term set by a Government resolution, after payment of a fee, and is prepared on the basis of the registry, public-law restrictions, tax pledges, and the registries of rights to movable and intangible property. Electronic copies of documents submitted during registration are available on the unified portal free of charge; publication means the placement of information or a document on the portal, and a registration request counts as the data subject's declaration of consent to the processing of personal data. Registered data and every change made in them must be published; the placed capital of a joint-stock company is published at least once a year, where that datum is in the registry. The person authorized to direct the entrepreneur is responsible for supplying the publishable data to the registry; administrative liability for failure is determined by legislation.
Accounting, Reporting and Audit
Article 56 governs financial discipline: accounting is kept, reporting is prepared and submitted, and audit is conducted in accordance with the Law on Accounting, Reporting and Audit. A public-interest entity that is a first- or second-category enterprise must annually ensure the audit of its own financial reporting. The participation of shareholders, the management body and supervisory board members in the conduct of the audit must not endanger the auditor's independence and objectivity. The entrepreneur's leading persons and the supervisory board members are jointly responsible for the preparation and submission of reporting — the quality of reporting is a shared corporate-governance responsibility.