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The most important type of services we provide are financial statement audit and audit-related services.
PKF Latvia offers:
We perform our professional activities on the basis of a license issued by the Latvian Association of Sworn Auditors (No. 63) and a professional qualification recognized by our partners - sworn auditors.
An essential part of our audit is communication with management at various stages of the audit, including preparing a report to management highlighting the deficiencies in accounting, financial reporting procedures and internal control identified during the audit and recommending how to address the deficiencies.
In our company, accounting services are provided by competent employees (including members of the Association of Accountants of the Republic of Latvia) under the guidance of a partner - a sworn auditor. The client of accounting services, like any other of our clients, benefits from our accumulated experience and knowledge, which is available at any time to solve more complex issues.
The tasks of in-depth financial research include a detailed study of the company, assessing the key factors that determine the company's operations and its ability to generate profit and cash flow, and assessing the financial risks that are significant to the company.
Such services will be important when purchasing a share in a corporation or a share in a company. An in-depth financial research report that will include detailed information on the acquiree's long-term investments, working capital, profits (identifying gains or losses from one-off transactions), management information systems and control environment, personnel issues, contingent liabilities, etc. .
When conducting in-depth financial research, we are aware that close cooperation with the client and the investor's other consultants involved in the project is essential to ensure a high quality service.
We also offer:
Our services help company management to make informed decisions and choose the most appropriate future development strategy.
Our services do not include legal advice. However, in order to provide full support to the client in starting a business or dealing with legal issues, we work with law firms and can help the client obtain legal assistance if the need arises.
As members of an international network, we can help our clients to establish direct contact with a member firm of PKF International Limited in another country and thus obtain the necessary information and support to operate abroad.
Together with other member firms of PKF International Limited, we contribute to the development of newsletters on the tax system in various countries that provide initial insight and information to investors (the Worldwide Tax Guide is available in English on the PKF International Limited website (https://www.pkf.com/publications /).
Home> Services
Audit and audit related services represent our main activity, our core competence.
We offer:
We conduct our professional activities based on the licence no. 63 issued by the Latvian Association of Certified Auditors and recognized qualifications of our partners – certified auditors holding valid auditor’s certificates.
Comunication to management at various stages of the engagement is an essential part of our audit. This includes our reporting to management using a management letter in which we draw attention to the weaknesses in accounting, financial reporting, and internal control identified during the audit and provide recommendations to eliminate these weaknesses.
In our firm accounting services are provided by competent employees (including members of the Association of Accountants of the Republic of Latvia) under guidance of a partner – a certified auditor. The accounting service client, like any other our client, can benefit from the knowledge and experience accumulated by our firm that is available whenever required to solve non-routine issues.
Financial due diligence involves a detailed analysis of a business, assessing the key factors driving the business and its ability to generate maintainable profits and cash flows, and identifying the key financial risks relevant to the target company.
Such service will be relevant in acquisitions of shares in a company or an organised part of the enterprise. Financial due diligence report, which will include detailed information on non-current assets, working capital of the target company, its sustainable earnings (identifying earnings from one-off events), management information system and control environment, employment matters, commitments and contingent liabilities and other matters will provide relevant information for investor’s decision making.
When providing financial due diligence services we are aware that close cooperation with our client and the investor’s other advisers is essential to provide high-quality service.
Our other financial consulting services include:
We believe we can help our clients make well-considered decisions and choose the most suitable development strategies.
We do not provide legal services. However, we co-operate with law offices and can refer the client to a legal advisor in order to ensure full support at business start-up stage or as issues to be addressed by a lawyer arise.
As a member of an international network we can help our clients establish direct contact with a member firm in any other country and therefore obtain the necessary information and support to realize business transactions abroad.
In co-operation with other PKF International Limited member firms we contribute to the tax publications serving as an initial reference manual on international tax and business matters (Worldwide Tax Guide is available at the resources section at www.pkf.com).
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SIA PKF Latvia is a member of the network of legally independent commercial companies PKF International Limited, and it does not assume any liability or responsibility for the actions or omissions of any other or other member companies or correspondent companies.
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