Latvian statutory laws require contracting of certified auditor or audit companies when two of the following three financial criteria are exceeded by companies.
| |
Annual reports – financial criteria for statutory audit |
Consolidated statements – criteria for their composing and audit |
| Net sales |
LVL 500 000 and more |
LVL 1 000 000 and more
|
| Total assets |
LVL 250 000 and more |
LVL 2 400 000 and more |
| Average number of employees |
25 employees
|
250 |