Audit
Audit Services
KPMG’s audit focuses on business issues and the matters that can impact on the financial statements, whilst also retaining the basic audit procedures that test the information contained in the financial statements.
Our approach is grounded in the market dynamics of our clients, helping to make our judgments both relevant and insightful.
Our approach is grounded in the market dynamics of our clients, helping to make our judgments both relevant and insightful.
As auditors, we provide independent, objective and well –respected opinions on the reliability of financial information. We now audit over 200 clients that represent all industry groups in Latvia as well as non-governmental and state institutions and agencies.
We offer the following services:
Our Audit Approach
The fundamental element of our audit approach is the development of a unique business model based on our industry experience, which encapsulates key business issues and risks which our clients face. Our approach is risk based which enables us to identify the key risks, internal and external, confronted by our clients, identifying and focusing on what matters.
By 2005 all EU listed companies must apply International Financial Reporting Standards (IFRS) in their financial statements. This means companies will have to have a set of comparative accounts in 2004, so it is vital that they have a structured action plan now to help ensure an effective and efficient conversion.
KPMG Audit professionals in Latvia have worked on IFRS conversion projects as well as delivered training on IFRS to banks, regulators and other companies.
IFRS is more than just a technical accounting exercise; it is an important business priority. For many the IFRS revolution will have a significant impact on their financial statements, directly affecting the outcomes of valuation metrics that analysts use to measure and evaluate company performance. Major areas affected will be, financial instruments, business combinations, share based payments and pensions. Ultimately early adoption and communications may assist competitive advantage. We offer a multi-faceted audit process, combining Latvian and international audit requirements industry experience and audit, tax and information risk management professionals in order to offer you efficient and comprehensive service.
Integral to the audit process our tax practitioners work to assess the tax risk management environment as a process to mitigate the company or organization’s risks. IRM professionals work as part of the audit team to assess the IT environment as a key management process used to achieve the Company’s business objectives.
We see clients business through its processes. So the service KPMG now offers is not only an independent report on the financial position of the organization, but also objective and reliable insights which can add value to your business.
Benefits for our clients
Our audit is designed to deliver exceptional value at reasonable cost. Our multidisciplinary team is better able to identify many of the potential business risks which, if not managed effectively, could translate into financial statement risks. In short, we deliver:
For further information about our services or if you would like one of our professionals to contact you, please contact us.
We offer the following services:
- Latvian statutory audit
- Audit in accordance with international standards
- Audit in accordance with parent company's national requirements
- Internal audit
- Accounting assistance
- Other Audit related services
Our Audit Approach
The fundamental element of our audit approach is the development of a unique business model based on our industry experience, which encapsulates key business issues and risks which our clients face. Our approach is risk based which enables us to identify the key risks, internal and external, confronted by our clients, identifying and focusing on what matters.
By 2005 all EU listed companies must apply International Financial Reporting Standards (IFRS) in their financial statements. This means companies will have to have a set of comparative accounts in 2004, so it is vital that they have a structured action plan now to help ensure an effective and efficient conversion.
KPMG Audit professionals in Latvia have worked on IFRS conversion projects as well as delivered training on IFRS to banks, regulators and other companies.
IFRS is more than just a technical accounting exercise; it is an important business priority. For many the IFRS revolution will have a significant impact on their financial statements, directly affecting the outcomes of valuation metrics that analysts use to measure and evaluate company performance. Major areas affected will be, financial instruments, business combinations, share based payments and pensions. Ultimately early adoption and communications may assist competitive advantage. We offer a multi-faceted audit process, combining Latvian and international audit requirements industry experience and audit, tax and information risk management professionals in order to offer you efficient and comprehensive service.
Integral to the audit process our tax practitioners work to assess the tax risk management environment as a process to mitigate the company or organization’s risks. IRM professionals work as part of the audit team to assess the IT environment as a key management process used to achieve the Company’s business objectives.
We see clients business through its processes. So the service KPMG now offers is not only an independent report on the financial position of the organization, but also objective and reliable insights which can add value to your business.
Benefits for our clients
Our audit is designed to deliver exceptional value at reasonable cost. Our multidisciplinary team is better able to identify many of the potential business risks which, if not managed effectively, could translate into financial statement risks. In short, we deliver:
- Responsive service and clear communication
- Comprehensive Risk assessment
- Identification of improvement opportunities
- Thoughtful and innovative recommendations
For further information about our services or if you would like one of our professionals to contact you, please contact us.
