Regulations Regarding the Sample Forms of the Registration Application for a Third Country Auditor or Third Country Commercial Company of Auditors and the Sample Form for an Opinion Regarding the Compliance of a Third Country Auditor or Third Country Commercial Company of Auditors to Registration Conditions, and Procedures for Preparation and Sending of an Opinion

[19 June 2012]

Issued pursuant to
Section 24.², Paragraphs two and three
of the Law On Sworn Auditors

1. This Regulation prescribes the sample forms of a registration application for a third country auditor or third country commercial company of auditors (hereinafter - registration application) (Annex 1 and Annex 1.¹) and the sample form of an opinion of the Ministry of Finance (Annex 2) regarding the compliance of a third country auditor or third country commercial company of auditors to the conditions of registration in the Register of Third Country Auditors and Third Country Commercial Companies of Auditors specified in the Law On Sworn Auditors (hereinafter - opinion), as well as the procedures for preparation and sending of the opinion.

[19 June 2012]

2. The Ministry of Finance shall ensure the publication of the sample registration application forms on the Internet home page of the Ministry of Finance in Latvian and English.

[19 June 2012]

2.¹ A third country auditor or third country commercial company of auditors shall fill in and submit a registration application (Annex 1) to the Ministry of Finance, if the European Commission has not recognised the supervision, quality control, investigation and sanctions systems of such third country as equivalent to the supervision, quality control, investigation and sanctions systems of Member States.

[19 June 2012]

2.² A third country auditor or third country commercial company of auditors shall fill in and submit a registration application (Annex 1.¹) to the Ministry of Finance, if the European Commission has recognised the supervision, quality control, investigation and sanctions systems of such third country as equivalent to the supervision, quality control, investigation and sanctions systems of Member States.

[19 June 2012]

3. The Ministry of Finance shall, within one month after receipt of a registration application (Annex 1), examine the information included in the registration application and:

3.1. if the third country auditor or third country commercial company of auditors complies with the conditions for registration in the Register of Third Country Auditors and Third Country Commercial Companies of Auditors, shall prepare a relevant opinion;

3.2. if inaccuracies are determined in the received registration application and it is necessary for the preparation of the opinion, shall request an updated registration application or additional information. After receipt of the updated registration application or additional information the Ministry of Finance shall, within one month, perform the activities specified in Sub-paragraphs 3.1 and 3.3 of this Regulation;

3.3. inform the submitter of the registration application in writing regarding the compliance or non-compliance of the third country auditor or third country commercial company of auditors to the conditions for registration in the Register of Third Country Auditors and Third Country Commercial Companies of Auditors.

[19 June 2012]

3.¹ The Ministry of Finance shall, within two weeks after receipt of a registration application (Annex 1.¹), examine the information included in the registration application and:

3.¹ 1. shall prepare a relevant opinion;

3.¹ 2. if inaccuracies are determined in the received registration application, may request an updated registration application or additional information. After receipt of the updated registration application or additional information the Ministry of Finance shall, within two weeks, perform the activities specified in Sub-paragraphs 3.¹ 1 and 3.¹ 3 of this Regulation;

3.¹ 3. inform the submitter of the registration application in writing regarding the compliance of the third country auditor or third country commercial company of auditors to the conditions for registration in the Register of Third Country Auditors and Third Country Commercial Companies of Auditors.

[19 June 2012]

4. The opinion of the Ministry of Finance together with a copy of the registration application shall be sent to the Latvian Association of Sworn Auditors.

5. This Regulation shall come into force on 29 June 2009.

Acting for the Prime Minister -
Minister for Finance E. Repše

Minister for Economics A. Kampars

Annex 2
Cabinet Regulation No. 537
17 June 2009

[19 June 2012]

Sample Opinion

(the supplemented lesser coat of arms of Latvia)

THE MINISTRY OF FINANCE OF THE REPUBLIC OF LATVIA

Opinion regarding the compliance of a third country auditor or third country commercial company of auditors with the conditions of registration in the Register of Third Country Auditors and Third Country Commercial Companies of Auditors specified in the Law on Sworn Auditors

complies with the conditions of registration in the Register of Third Country Auditors and Third Country Commercial Companies of Auditors in accordance with the procedures specified in the Law on Sworn Auditors.

Note. * The details of the document "date" and "signature" shall not be completed if the electronic document has been prepared in accordance with the laws and regulations regarding drawing up of electronic documents.

Minister for Economics A. Kampars

Translation © 2018 Valsts valodas centrs (State Language Centre)