Assurance

Our team includes specialists with knowledge and experience in different industries to match your expectations for high quality value added services. In the Assurance department of PricewaterhouseCoopers office in Riga we have approximately fifty audit professionals, including three Latvian Certified Auditors.

All our department staff study ACCA and many of them already are ACCA qualified. This gives us the resources not only to specialise in particular industries such as banking, real estate, insurance, services, energy, telecommunications, manufacturing and retailing but also offer, based on the company's needs, specific individual services. PricewaterhouseCoopers is represented on the Latvian accounting standards committee and regularly contributes to this and the updating of relevant legislative matters.

Based on the company's needs, we offer specific individual services, of which the main ones are listed below:

•  Audit of financial statements prepared in accordance with Latvian statutory requirements, International Financial Reporting Standards, US GAAP or UK GAAP
• Audit of Group Reporting Packages
• Quarterly and half-year reviews of financial statements
• Agreed-upon procedures
• Practical assistance in preparation of financial statements in accordance with the requirements of Latvian legislation or International Financial Reporting Standards
• Advice and practical assistance on specific accounting and financial reporting issues such as consolidation procedures, format of the financial statements, accounting for financial instruments and others
• Outsourcing – performance of certain functions of the client company with one of the following objectives:

1. to assist in the implementation of a specific function in the company
2. to improve and develop the existing function by transferring our knowledge and experience to the employees of the company
3. to perform a specific function on a temporary basis until it is taken over by the employees of the company
4. to perform a short term function allowing the company to avoid recruitment of its own specialists on a temporary basis and save associated costs

In the course of the audit we review the company's accounting systems and procedures for the company's accounting and internal controls. We report our findings and recommendations for improvements to the management. We also report to the client any management, business or operational issues which have come to our attention and provide our recommendations to assist the company.

For further information please contact:
Juris Lapse, Partner
juris.lapshe@lv.pwc.com
Ilandra Lejina, Director
ilandra.lejina@lv.pwc.com

Last updated: 24.07.2007