The State Audit Office of Latvia continues to strengthen the capacity of the Supreme Audit Institution of Moldova in their move towards full integration of the International Standards of Supreme Audit Institutions (ISSAI) and shared experiences on the application of ISSAI, in particular ISSAI 2600, in audits of annual consolidated financial statements in October.
The purpose of an online training was to share experience and facilitate understanding of the role of group auditors in coordinating and monitoring the group’s financial auditing process.
The training took place in three sessions, which covered issues related to the role of group auditors in the audit of group financial statements. Audit planning issues were discussed, with particular emphasis on the group auditor’s responsibilities and duties and the establishment of group financial audit approaches.
This training was held to provide auditors with practical tools for effective supervision and coordination in audits of annual consolidated financial statements.
Support to the SAIs of the EU Eastern Partnership countries is implemented in support of the Development Cooperation Project (Ukraine, Moldova, Georgia and Uzbekistan) to strengthen the capacity of SAIs of these countries in creating a transparent and effective control system of state funds. Funding for the Development Cooperation Project was allocated from the resources of the Development Cooperation Policy Plan 2024-2027 administered by the Ministry of Foreign Affairs of Latvia.
The SAI Moldova is an independent institution that audits the management of financial means and property by all state, municipal and other derived public entities.
The international cooperation of the State Audit Office of Latvia:
- Leads the Task Force on Municipality Auditing of EUROSAI, a regional organisation of the International Organization of Supreme Audit Institutions (INTOSAI), serves on the Contact Committee, of the Cooperation Platform between the SAIs of the EU Member States and the European Court of Auditors, and acts as an auditor of international organisations;
- Ensures participation and professional input in the INTOSAI and EUROSAI International Working Groups and the INTOSAI Financial Auditing Standards Subcommittee;
- Provides development and other support to the SAIs of other countries and offers services in the international consulting market as a professional, highly qualified, and experienced consultant in the field of public sector audits.
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