• Ieroču str. 14-13, Rīga, LV-1013, Latvia
  • +(371) 67-87-10-90
  • info@revident.lv

Inspection of annual reports and consolidated annual report

Mandatory revision is provided for:

  • if it is a medium-size or a large company,
  • or if its securities are included into the regulated list (starting from year 1).


The prepared annual report of a small-scale company is inspected (checked) by the sworn inspector; and he/she provides a report on results of the audit (control) only in the following cases:

1) if this company’s showing two years in a row (both in the current and in the previous reporting year), and for a newly-established company – as of the date of balance in the first reporting year, exceeds two boundary values of criteria of the three given in this clause:

   a) total amount of balance sheet — 800 000 EUR,

   b) net turnover — 1 600 000 EUR

   c) average number of employees in the reporting year — 50;

2) if the given company is a parent company of the concern — irrespectively of the fact, whether release from responsibility of preparation of consolidated annual report refers to it or not (a micro-company as well!)

3) if the given company is a capital company of a public person, its subsidiary company or public and private capital company if speaking about the Law on administration of capital companies and capital shares of a public person;

4) if the given company has accepted, evaluated and stated the respective items of the financial report according to the international accounting standards (even if it is only one item of balance!)

This audit is performed by an outside person – with a sworn inspector’s certificate.


Limited inspection of the annual report is a control task, which is performed according to the Law „On sworn inspectors” in relation to the data given in the financial report and information included into it, including compliance of the corporate income tax amounts.

  • showing of this small-scale company as of the balance date two years in a row exceeds two of the following boundary values:


   a) total balance amount — 400 000 EUR,

   b) net turnover — 800 000 EUR,

   c) average number of employees in the reporting year — 25

(3) The small-scale company mentioned in the second part of this article, to inspect its annual report, is entitled to choose either limited control or audit

Selection of inspector is absolutely free.

Specialists of the company SIA „Revidentu firma NM” are ready to implement audit of your company’s annual report according to the regulations of the Law „On annual reports” and the Law “On audit services”, following all requirements defined by the Latvian Association of Sworn Inspectors.

Services of a sworn inspector are also used when composing operative financial reports for submission to the financial institutions.

We provide a conclusion decision of the sworn inspector within optimal terms and under convenient conditions.

Online service application

Upon receipt of application, our company’s expert will contact you in the short run.