Possibilities of creative accounting avoidance in the Slovak Republic

Abstract

Creative accounting is a common phenomenon in recording the results in organisations. Act No. 431/2002 determines the need for the true and fair representation of econominc results in Slovakia. In this article, the authors discuss the key assumptions of the audit in view of the financial audit application. Based at Slovak legislation, the authors present selected methods and possibilities of the creative accounting avoidance, which have a major impact on public finances in the form of taxes.