Today, 21 January 2025, the State Audit Office of Latvia presented the developed Guidebook for Development Planning to Promote Businesses and Attract Investment in Local and Regional Governments to development planning specialists, project managers, economists and financial analysts at a session organized by the Latvian Local and Regional Government Training Centre.
“This Guidebook is aimed at serving as a practical tool and support for local and regional governments to promote businesses and attract investment, based on the results of reliable data analysis and thoughtful planning. In addition, all stakeholders must be involved in the business environment assessment process by facilitating mutual cooperation,” stated Mr Oskars Erdmanis, Council Member of the State Audit Office of Latvia.
The Guidebook was drafted based on the conclusions of performance audit report “Improvement of opportunities for the implementation of municipal actions, institutional cooperation and public investment projects to promote businesses in local and regional governments”, which the State Audit Office of Latvia published at the end of last year.
The audit concluded that, firstly, an impartial and data-based assessment of the situation regarding the existing and impartially feasible business environment was necessary for the development of businesses and attraction of investments in local and regional governments and correct and targeted attraction and use of European Union fund programs. Secondly, strengthening cooperation among local and regional governments, the Investment and Development Agency of Latvia and programming regions significantly was required so that the implemented projects provided the best contribution to the development of businesses and promote the attraction of private investment in the regions.
The State Audit Office of Latvia has also prepared guidebooks for improving the work of local and regional governments as part of separate audits previously. For example, when assessing public water management in local and regional governments, a guidebook for local and regional governments on public water management was elaborated. In its turn, after audit “Are municipal bridges and overpasses safe?”, a guidebook for local and regional governments on bridge maintenance was drafted. In 2021, the State Audit Office of Latvia published “Local and Regional Government Guide”, or a guide based on audit results, which provides leaders, councillors, auditors, accountants and heads of municipal enterprises of local and regional governments with advice on improving their work and broadening their horizons. The updated version of the Guide, which will also include a section on municipal actions in forest management, will be published at the end of January 2025.
About the State Audit Office of Latvia
The State Audit Office of the Republic of Latvia is an independent, collegial supreme audit institution. The purpose of its activity is to find out whether the actions with the financial means and property of a public entity are legal, correct, useful and in line with public interests, as well as to provide recommendations for the elimination of discovered irregularities. The State Audit Office conducts audits in accordance with International Standards of Supreme Audit Institutions of the International Organization of Supreme Audit Institutions INTOSAI (ISSAI), whose recognition in Latvia is determined by the Auditor General. Upon discovering deficiencies, the State Audit Office of Latvia provides recommendations for their elimination, but it informs law enforcement authorities about potential infringements of the law.
Additional information
Ms Gunta Krevica
Head of PR and Internal Communication Division
Ph. 23282332 | E-mail: Gunta.Krevica@lrvk.gov.lv