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The Association

The Latvian Association of Certified Auditors (LACA) is an independent professional Corporation that was founded in 1994 according to the Law on Certified Auditors. The organisation was founded by 75 certified auditors but the roots of the association can be traced back to July 12, 1938 when the Cabinet of Ministers of the Republic of Latvian adopted and the President accounted the Law of Certified Auditors. LACA is the only professional organisation in Latvia that associates the certified auditors and firms of certified auditors.

The aim of the association as an independent corporation of certified auditors in Latvia is to implement self-government in order to promote improvement of professional qualification, refine creative skills and acquire new experience as well as foster the reputation and legal protection of the profession. The activities of the association are targeted at the aims stated in the Law on Certified Auditors:

•    To ensure monitoring over compliance to professional standards and norms of ethics as well as other applicable professional norms and regulations and professional activities of its members.
•    To represent and protect the interests of its members, to organize qualification examinations of professional auditors and decide on issuing certificates to certified auditors as well as issuing licences to firms of certified auditors.
•    To keep the register of certified auditors and firms of certified auditors.
•    To review disputes between certified auditors and clients based on the request of an involved party.
•    To organize professional training and qualification improvement courses for certified auditors.
•    To develop and submit to legislative institutions recommendations in the field of bookkeeping standards and audit.
•    To provide quality control over activities of certified auditors.

In order to fulfil the above mentioned tasks and aims LACA has created several permanent committees:

•    Examination Committee: organises qualifications exams for candidate certified auditors.
•    Ethics Committee: develops norms of professional ethics of certified auditors, reviews the breaches of the norms of professional ethics of certified auditors within the framework of the disciplinary process.
•    Education Committee: organises the process of improving the qualification and acquiring new skills.
•    Quality Committee: provides monitoring of quality control over the certified auditors and firms of certified auditors; reviews disciplinary cases of certified auditors.

•    Standing Committee on the Monitoring of Legislative Enforcement of Regulatory Enactments in the Area of Prevention of Money Laundering and Terrorism Financing: monitors the implementation of regulatory enactments in the area of AML/CTF and ensures appropriate and consistent application of the requirements in firms of certified auditors.

International organizations:

Accountancy Europe  The International Federation of Accountants  Lietuvos auditorių rūmai  Audiitorkogu

Public authorities:

logo5 State Revenue Service Financial and Capital Market Commission The TreasuryThe State Audit Office of the Republic of Latvia

Latvian organizations:

Latvian Chamber of Commerce and Industry   Employers Confederation of Latvia 


logo4The Latvian Association of Accountants