Abstract:

The article presents taxonomy of risks that can be identified in the financial statements. The aim of the article is to systematize, characterize and interpret the risks that are recognizable in financial statements by their users, especially investors. The research focuses on the possibility of identifying risks through the analysis of balance sheet, profit and loss account, cash flow statement, the statement of changes in own equity and additional information in notes. The analysis is used as a method. The analysis shows what types of risk are included in the items of the financial statements content and how to read the items in order to identify potential risks inherent in them. The article’s novelty is an attempt at risk taxonomy in accounting area based on financial statements.