Appointment of Vice-Rector prof. Musílek to Presidium of Public Audit Oversight Board

Prof. Petr Musílek was appointed to the Presidium of the Public Audit Oversight Board (PAOB) with effect from 1. 8. 2019 for six years, based on his expertise in securities public markets.

The main task of the PAOB is to perform public oversight of the performance of auditing activities and activities of the Chamber of Auditors of the Czech Republic, to carry out quality checks at auditors and audit firms that have public interest entities in their portfolio and other activities stipulated by the Regulation and the Act on Auditors. The PAOB was established in 2009 and is based in Prague. Since 2016, there has been a significant shift in the role of the PAOB in the area of ​​quality control of various entities.

The executive body of the PAOB is the Presidium, which exercises the powers of the Board under the Act on Auditors or the Regulation. The Presidium has six members. Members of the Presidium are appointed by the Minister of Finance in cooperation with the Czech National Bank. The term of the office of a member of the Presidium is six years and it is the performance of a public office.

The Board´s Presidium usually meets once a month and prof. Musílek will continue not only as Vice-Rector for Science and Research but also in all academic activities at the Department of Banking and Insurance.

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