Experts from the State Audit Office of Latvia, Ms Guna Krūmiņa and Ms Lelde Dimante, have conducted training at the Supreme Audit Institution (SAI) of Moldova to improve the overall audit process of the country’s financial statements. The visit also included constructive meetings with the audit team responsible for the audit of Moldova’s annual financial statements.
During the training, a workshop on the International Public Sector Accounting Standards (IPSAS) was held where the recognition and measurement of long-term investments, as well as the accounting for stocks and contingent liabilities were discussed. The discussions covered aspects of the audit of annual consolidated financial statements, with a particular emphasis on the coordination of horizontal issues within the audit team of the SAI Moldova.
These activities continue previous trainings at the SAI Moldova, which discussed the role of group auditors in coordinating and supervising financial audits (in accordance with ISSAI 2600). This approach will help strengthen the Moldovan public financial management system in 2024.
The training is a part of the EU Eastern Partnership project, which includes Ukraine, Moldova, Georgia and Uzbekistan, which aims to promote transparency and compliance with international standards in public financial management. The project also strengthens the capacity of national supreme audit institutions to ensure transparent and effective control of public funds. The project is financed by the Ministry of Foreign Affairs of Latvia from the Development Cooperation Policy Plan 2024-2027.
SAI Moldova is an independent institution that audits the use of financial resources and property of the state, municipalities and other public entities.
The international cooperation of the State Audit Office of Latvia:
- Participates in the platform of the Supreme Audit Institutions of the Member States of the European Union and the European Court of Auditors Contact Committee, as well as acts as an auditor of international organizations;
- Ensures participation in and professional contribution to the work of INTOSAI, EUROSAI international working groups and in the INTOSAI Financial Audit and Accounting Subcommittee;
- Provides development and other support to supreme audit institutions of other countries and offering international consulting services as a professional, highly qualified, and experienced consultant in public sector auditing.
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