1. Request a Service in the Ministry of Finance
In accordance with Section 21.1 of the Audit Services Law, a commercial company of auditors entered in the register of another Member State (hereinafter - Commercial Company) has the right to provide audit services in the Republic of Latvia, if it has been recognised by the Ministry of Finance as equivalent to a commercial company of sworn auditors, a commercial company of sworn auditors has been issued to it and such commercial company has been entered in the register of sworn auditors.
For receipt of the opinion of the Ministry of Finance, the Commercial Company shall submit the following document
• a submission of a commercial company (in a free form), which also includes a statement that persons who will provide an auditor's report on the audit of the annual accounts of the client and consolidated annual accounts (examination) have been issued a certificate of an auditor of another Member State and that the professional qualifications of such persons have been recognised in accordance with the procedures specified in Section 13 of the Audit Services Law (in addition) (view service “”);
• a document issued by the competent authority of the Member State concerned that the commercial company is entered in the relevant register of commercial companies of auditors of that Member State.
Within five working days after receipt of the documents, the Ministry of Finance shall review the documents submitted and inform the Commercial Company electronically regarding the fact that:
• a licence or a reasoned refusal will be issued (sent) within 30 days if all documents have been received;
• if no document has been submitted regarding the recording of the Commercial Companies of Auditors in a Member State, the licence or reasoned refusal will be issued (sent) within 30 days after the receipt of the missing document, i.e. after receipt of all the necessary documents.
2. Receipt of services
If it is recognised that the Commercial Company is equivalent to a commercial company of sworn auditors, the Ministry of Finance shall prepare and send an opinion within five working days:
• a commercial company;
• the Latvian Association of Sworn Auditors.
The Latvian Association of Sworn Auditors shall issue a commercial company licence for sworn auditors to the Commercial Company and record it in the Commercial Companies Register of sworn auditors on the basis of the opinion of the Ministry of Finance, and shall at the same time inform the Ministry of Finance thereof.