Association of Accountants of the Republic of Latvia
Member | Established: 1994 | Associate since 2013; Member since 2018
AARL is a professional accountancy organization whose main objective is to improve the professional skills of accountants and offer the Certified Professional Accountant Certification launched in 2000. Membership in AARL is voluntary and is open to all representatives of the accounting profession, including internal auditors, tax consultants, bookkeepers, members of the academia, etc. AARL is advocating a licensing scheme for accounting services providers and has developed its own voluntary certification. For the last 20 years, it has been actively involved in the development of the Latvian accounting profession, participated in the work of the former Accounting Board in the development of Latvian accounting standards, contributed to development and implementation of public policy on accounting issues in Latvia. AARL is an associate member of Accountancy Europe, a member of the European Accounting Association, International Association for Accounting Education and Research, and European Institute for Advanced Studies in Management.
Contact
5-434 Aspazijas Boul.Reg.No. 40008007098
Riga LV-1050
Latvia
Tel: +371 67333227
Fax: +371 67221520
lrga@lrga.lv
http://www.lrga.lv
Statements of Membership Obligations (SMOs)
Last updated: 03/2018
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The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.
Status of Fulfillment
AARL as an organization uniting mostly accountants does not have direct responsibility for establishing a QA review system for statutory auditors in Latvia. However the association is a member of the consultative body...
AARL reports that since 2000, the professional accounting certification program of AARL, offered as part of its voluntary membership requirement, was developed in accordance with IES requirements. The association reports...
As a member of the Audit Advisory Committee (AAC), AARL actively participates in the national standard-setting process and supports the Ministry of Finance and the Latvian Association of Certified Auditors (LACA) in the...
While ethical requirements for professional accountants are not established at the jurisdiction level, AARL has been proactive with the adoption of the IESBA Code of Ethics for its members. The association reports that...
While it has no responsibility for the adoption of public sector accounting standards in the jurisdiction, AARL reports that it cooperates closely with the State Treasury under the Ministry of Finance to support the...
AARL reports in its SMO Action Plan that it has established a complaints-based approach and an information-based approach for its I&D system. The examination of complaints, objectives and misconduct (e.g. breaches of...
The Law on Annual Financial Statements and Consolidated Financial Statements of January 1, 2016 sets the requirements for the preparation of corporate financial statements in Latvia. The law outlines accounting standards...
Disclaimer
IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.