Professional support for your business

We are a team of experienced professionals providing auditing services, tax and financial consultations in Latvia.

Services

Our services are based on the maintenance of constant contact with the client ensuring the understanding of the commercial activity carried out by the company and risks and problems faced by the company’s management. Services are provided in Latvian, Russian and English languages.

About Us

Astrop Revision SIA is a licensed auditing firm which provides audit and related services to the companies and establishments from public and private sector for more than 10 years. As the result of our audit procedures, company’s shareholders and management obtain more confidence on financial stability of the company, its transparency and supports the development of the business in future.

Auditing Services

Auditing services include audits and limited reviews of the companies’ financial statements in the cases provided for by the laws of the Republic of Latvia. Learn more about auditing services.

Audit and limited review is provided for the financial statements of companies prepared in accordance with Latvian laws and/or International Financial Reporting Standards.

Audit Limited review
Criteria for audit and limited review 1 Company’s financial statements Consolidated financial statements Company’s financial statements
Medium and large companies / concerns 2 X X
Small companies, which exceed 2 out of 3 criteria for 2 consecutive years:
1) net sales – EUR 1 600 000
2) total assets – EUR 800 000
3) average number of people employed – 50
X
Small companies, which exceed 2 out of 3 criteria for 2 consecutive years:
1) net sales – EUR 800 000
2) total assets – EUR 400 000
3) average number of people employed – 25
X
Concern parent companies 3 X
State and municipal companies (100%), its subsidiaries X
Companies, which recognize, assess and classify assets in accordance with International Financial Reporting Standards 4 X
Companies, whose securities are listed on the stock exchange X X

1 Audits and limited reviews now are applied also to partnerships and limited partnerships.

2 If exceeds 2 out of 3 criteria: total assets – EUR 4 000 000, net sales – EUR 8 000 000, average number of people employed – 50. The requirement for an audit is starting from the first year after the fulfilment of the criteria. For consolidated financial statements – except for the groups that are not required to prepare consolidated accounts by law.

3 Regardless of the amount of operations, as well as whether or not the Company has to prepare consolidated financial statements.

4 If the Company recognizes, evaluates, indicates investment property, biological assets, non-current assets held for sale, deferred income tax assets or other assets or liabilities in the financial statements in accordance with International Accounting Standards.

Audits are conducted in accordance with the International Standards on Auditing approved by the Association of Accountants of the Republic of Latvia and the International Federation of Accountants, effective laws of the Republic of Latvia and international contract provisions. In our activity, we guarantee confidentiality of information about the clients’ business that is available to us.

As a rule, audits are conducted at two stages starting right after the end of the reporting year. First of all, together with the company’s financial management and the chief accountant we discuss major transactions that were made in the respective year, follow the company’s cash flow as well as inspect the company’s internal control system. In the period of preparing of financial statements, we check whether the accounts were closed correctly as well as inspect compliance with the decisions of the shareholders, the Council and the Board, and do other required auditing procedures.

After financial statements have been prepared, we check whether they contain proof of transactions, inventory data, debtors or creditors reconciliation statements as well as inspect whether they are prepared in compliance with the requirements of the Law On the Annual Financial Statements and Consolidated Financial Statements  and the Law On Accounting of the Republic of Latvia and give a true and fair view of the company’s assets and liabilities, income statement and cash flow.

Audit and limited review.

Advice on financial and management accounting.

Special purpose audits. Assurance engagement, reorganisation opinions, sanitation plan development.

Opinions and advice on taxes.

Due diligence. Financial activity analysis

Services related to the company’s internal control system

We advise on accounting and tax matters, including such as special aspects of accounting in the respective national economy sectors or recording of specific operations. We also render assistance to companies the accounting documents of which do not comply with the requirements of the laws of the Republic of Latvia because their accountants or management lack knowledge or due to any other reason.

Industries

The extensive industry knowledge allows us to provide our services professionally, being aware of the specifics of the client’s business.

Pharmaceutical and medical companies

Pharmaceutical and medical companies represent the largest percentage of Astrop Revision client portfolio covering leading medical institutions in Riga as well as regional hospitals and laboratories. Our audit experience adds pharmaceutical companies, distributors and wholesalers of the pharmaceutical products.

Our clients: ARS, Saulkrastu, Siguldas, Līvānu slimnīcas, AB Medical group, NMS Laboratorija

State and municipal institutions and enterprises

Considerable part of Astrop Revision clients are state and municipal institutions and enterprises. They require specific audit procedures, internal control and in depth knowledge upon dealing with the conflict of interest situations, corruption risks and other issues. We provide tax consultancy and assistance with preparation of tax returns on behalf of the officials working in the public sector and state or municipal enterprises or local governments.

Our clients: The regional governments of Lubana and Ogre, the Science Academy of Latvia

Public-private partnership projects

When auditing state or municipal institutions and enterprises, we come across different modes of public-private partnerships. Astrop Revison has experience and resources to assess the financial feasibility of PPP projects entered into by local municipalities or the State as well as to give an advice on transaction recording and statutory compliance.

Affiliates and representative offices of foreign companies

Astrop Revision provides services on behalf of affiliates and branches of foreign companies in Latvia as well as representative offices and permanent establishments. Our experts have knowledge on preparation of tax returns and allocation of overseas cost to Latvia, including application of the double tax treaties and VAT requirements

Our clients: Amerikas tehnoloģiju korporācija, Galeo, S&P Baltic

Construction and infrastructure

Astrop Revision audits construction companies, property developers and infrastructure projects. Therefore, we have extensive knowledge of international and local accountancy principles, VAT and other tax aspects and, thus, we are competent to provide the professional advice to the clients.

Our clients: Jēkabpils siltums, DHB, SEDL, B.T.C.

Trade and warehouses

Wholesale- and retail traders as well as warehouse operators represent another large portion of Astrop Revision clients. We have credentials from auditing the timber and medical distributers and wholesalers, consignation warehouses and other related businesses.

Our clients: BWT, Gamma SIA, S&P Baltic, AB Medical Group, Amerikas Tehnoloģiju korporācija

Logistics, transport and air freights

Several clients of Astrop Revision are engaged in transportation, logistics and air freight businesses. Our clients operate locally and globally providing the international transport operations to the customers.

Our clients: RIT Loģistika, Compos tranzit, ATU Rosme, RAF AVIA

Jekaterina Dzikeviča

ACCA / audit partner

jekaterina@revision.lv View CV

Tatjana Bodniece

Manager of audit projects

tatjana@revision.lv View CV