• Capital: Riga
  • Population: approx. 2,000,000
  • Language: Latvian
  • Part of the EU since: 2004

Member Bodies

Professional Bodies

No. of members172 members – sworn (certified) auditors;
118 associated members – certified audit companies
701 – total number, incl.:
639 – physical persons
58 – accounting outsourcing firms
4 – higher educational institutions and schools
Institute staff5
(executive director, deputy chief executive, deputy chief executive on methodological issues, AML specialist and jurist) and elected bodies: the Board (7 members) and 5 committees (Ethics, Quality, Examination, Education, AML/CTF)
Date of establishment19941994
Local branchesNo1 (International Secretariat)
Subject to public oversightYesNo
Public oversight authorityCommercial Companies Audit Policy and Oversight Unit (CCAPOU) of the Latvian Ministry of Finance (MoF)N/A
Involvement in Qualification and Market AccessLZRALRGA
Initial educationYesYes
Approval and registrationYesYes
Continued Professional DevelopmentYesYes
Standard settingYesYes
Quality assuranceYes (only audits of non-PIEs, PIEs: MoF)No
Disciplinary measuresYes (only audits of non-PIEs, PIEs: MoF)Yes


ProfessionsSworn (certified) auditor
(zverinats revidents)
Professional bodyLZRA
Protected titleYes
Reserved activitiesStatutory audit and other activities regarding the issuance of (financial) statements.
Included authorisationsComprises the authorisation to provide (advisory) services on taxation, valuation, financial and business management


Sworn auditors
Regulated professionYes
Public oversight authorityCommercial Companies Audit Policy and Oversight Unit of the Latvian Ministry of Finance


Sworn auditor
General initial education steps (without possible exemptions)• Age of 25 years
• Higher education (bachelor) in economics, finance or management;
• 3 years practical training
• Final examinations


Sworn auditor
No. of qualified professionals172
No. of new trainees per year8-9 per year
No. of people taking the professional examination28-30 per year
No. of people passing the professional examination3-5 per year

Market access – qualified professionals

Sworn auditor
Registration requiredYes
Competent authority for registrationLatvian Association of Certified Auditors (LZRA)
Cost of appointment/ registration€64
Oath requiredYes
Insurance requiredYes, for statutory audit
Professional address requiredNo