According to Law on Annual financial statements and Consolidated financial statements there are some criteria for obligatory audit of companies. They are:
– Sum of he balance sheet exceeds 400 000 EUR;
– The net turnover exceeds 800 000 EUR;
– The average number of employees in reporting year exceeds 25 persons.
Annual report of company must be verified by certified auditor if executes two from three above mentioned criteria.
Please feel free to contact us if you would like to get more information about audit in Latvian company.
Tel. (371) 29 112 333