On January 1st 2017, the amendment to the Commercial Code implementing the Capital Market Concept. This is a measure of the implementation which is the part of the Startup Support Concept and the Development of the Startup Ecosystem in the Slovak Republic. A new form of capital trading company has been created to offer a comprehensive solution for capital investments in companies. An example of such an investment is start‑up investment as business initiatives with high innovation and growth potential that can not provide funding through banks. When investing capital, it is necessary to flexibly set the investor’s entry, coexistence and output beyond what is currently possible in the form of trading companies in the conditions of the Slovak Republic. Until now, it has been a limited liability company, which has been mainly used for investing capital of start‑ups. Later was used the joint stock company as the capital‑intensive type of business. A public limited company and a limited partnership belonging to a group of private partnerships were not and are not used as startups, because of unlimited liability of the partners for the company’s obligations. The main obstacle for a joint‑stock company, as support for startups until their advanced stages of life cycle, is relatively high statutory minimum capital requirement of EUR 25,000. Another issue may be legal regulation aimed at medium and large businesses allowing them to trade their shares on the stock Exchange market, with the associated increased demands to ensure the functioning of the company. However, the Simple company, representing the hybrid form of a capital company, also has its serious shortcomings and is not a boon to support startups. Since it is a “young” type of business company that has not yet been the subject of research, it is the intention of the contributors to analyse a Simple company on shares and, by means of a number of scientific research methods, to provide a critical view of its shortcomings. Despite the fact that the reason for the establishment of this business company was mostly economic, research is mainly directed at the area of commercial law.
In order to meet the objectives of the financial audit, it is necessary for auditors to state that the financial statements prepared by the management provide a true and fair view of the financial condition of the enterprise. With regard to the natural limitations of auditing, the auditor obtains reasonable assurance by generally verifying the selected sample of items from the population and passing the results of that verification to the entire population. The subject of this article is to select a sample in a financial audit. The authors point out the importance of the correct course of the auditor to ensure that the selected sample is objective, unbiased and representative in relation to the overall set of items. In addition to a comprehensive view of sample selection, the authors focus in particular on analyzing and comparing the statistical and non-statistical sampling method. The authors explain the fundamental differences between them which consist mainly of the degree of randomness and the use of probability theory to evaluate the results of the sample. They describe individual methods, possibilities and ways of their application. Last but not least, they warn the reader of the limitations and limitations associated with the use of particular methods in practice. Based on this research, as well as on the basis of their own practical experience with the performance of the audits, the authors endorsed their own recommendations, the application of which will contribute to the increase of the quality of the financial audits carried out.
One of the basic tools of the capital market are securities. Under the currently valid and effective legislation, ownership of securities can be acquired through three types of scrambling contracts. It is a contract for the purchase of securities, a contract for the donation of securities and a contract for the loan of a security. These contract types are primarily regulated in the Securities Act as the “lex specialis” of securities law, with subsequent reference to the legal regulation contained in the Civil Code and the Commercial Code. The authors are focused on a donation of securities lending of securities, which are used in practice only a little, or even at all. For this reason, no attention is paid to them either by legal theorists. The authors, through scientific and doctrinal interpretation, examine the selected provisions of the Securities Act, the Civil Code and the Commercial Code relating to the issues of these agreements. Through professional literature and court decisions, they are looking for answers to practical application problems. Last but not least, they compare legal regulations in Slovakia and the Czech Republic and point to the differences. The study of the selected issues related to the acquisition of securities in the conditions of the Slovak Republic represents the main objective of this contribution, which affects also the area of economics or financial management. Priority, however, is in the area of financial law with significant transitions to civil and commercial law.
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