Audit according to requirements of Latvian law
Goal of the audit is to find out whether financial (accountancy) reports of audit subject are trustful and whether accountancy records are done according to requirements of Latvian law. According to Latvian law trustfulness means the level o accuracy of financial (accountancy) reports that allows its users to draw conclusions about business transactions results, state of finances and properties and make informed decisions based on this information.
Audit does not replace state control of financial (accountancy) reports trustfulness that is conducted by state authorized institutions according to Latvian law.
Audit is conducted by professionals of «Revidentu Firma NM» according with:
- Law “Par zverinātiem revidentiem”, issued 26.11.1996
- Inner rules (standards) of auditing company according to law of Republic of Latvia
- According to IFRS
- Rules (standards) of audit company «Revidentu firma NM».
Audit is done on selective basis and includes testing proofs that verify numerical indicators of accountancy records and reveal information about financial and business transactions, evaluating methods and principles of accountancy, viewing main estimative values and evaluating accountancy reports.
