Latvian Association of Certified Auditors
LACA is an independent professional corporation that was founded in 1994 according to the Law on Certified Auditors. It is the professional body of Latvian certified auditors and confers the certified auditor title under the oversight of the MoF. LACA has a wide range of responsibilities in accordance with the audit law, including: (i) organizing professional education courses and examinations for its certification; (ii) issuing licenses for audit firms and certified auditors and conducting quality assurance of their work; (iii) ensuring compliance with professional standards, ethical standards and regulatory enactments applicable to the profession; (iv) organizing continuing professional education; (v) reviewing disputes; and (vi) maintaining registers for Certified Auditors, Commercial Companies of Certified Auditors, and Third Country Auditors.
Apart from IFAC membership, LACA is a member of Accountancy Europe.
Statements of Membership Obligations (SMOs)
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.
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.