The aim of this diploma paper was to present a complete overview and process of conducting the audit of financial statements on the example of the selected company. The concept, meaning, history and types of audit were studied. The basic audit principles and standards applicable to the audit of financial statements are described. The application of audit ethics is explained and any actions that violate the auditor's code of ethics. Ethics describes the conduct of audit procedures, the types of audit opinions that have been studied more closely, and what impact they have on the outcome of the audit. The financial statements are presented and described as audited. Each type of financial statement is described separately. The balance sheet is first described and what are its constituent parts. Following the balance sheet, the income statement, its purpose and its essential characteristics are described. The cash flow statement is described as an integral part of the financial statements and its main features during the audit of the financial statements. The next report that is explained in the paper is a report on changes in equity or equity. The last type of report describes the notes to the financial statements, their purpose and relevance to auditors. Items and processes that are pre-audited are analyzed. The process of downloading the audit and the process of getting to know the client are also described. The assessment of the SIK and the risks involved in auditing the financial statements were examined. The last two steps of conducting the pre-audit that were described in more detail were to determine the materiality and to plan the audit. In the fifth substantive unit, the audit of the financial statements was carried out on the example of the selected company. All individual balance sheet items and the income statement were audited. The sixth substantive section presents the auditor's opinion on the audit of the financial statements. At the end of the thesis, the conclusion is explained, which relates to the results, hypotheses, goals and purpose of this thesis.