Abstract
Since 1 January 1993 the accounting system in Latvia has experienced a radical transition from the so called ‘soviet accounting system’ to European and worldwide accepted accounting practice. Since then two laws regulating the accounting system in the Republic of Latvia have been adopted and enforced; namely ‘On Accounting’ and ‘On Company Annual Reports’. Both laws are based on the EU Directives 4 and 7, as well as other EU Directives. The motive for adopting the laws has been to facilitate the integration of Latvia into the EU, for which harmonisation of legislation with the EU has to be accomplished.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Ernst & Young, ‘Danish Companies’ Accounts Act’ (1994) Regulations on Danish Companies’ Annual Account, Copenhagen.
IASC, (1995) ‘Target 1999: Global Approval’, IASC Insight (London: International Accounting Standards Committee).
Lasis, J. (1995) ‘Razmischlenia prisjaynogo revidenta’, Biznes & Baltija (Latvian Business Daily), 13.12.95.
Nobes, C. (1994) ‘A Study of the International Accounting Standards Committee’, (London: Coopers & Lybrand International).
Skuja, V. (1996) ‘Zvèrinâtie revidenti kopø pagâjuøâ gada strâdâ savâ profesionâlâ asociâcijâ’, Dienas bizness (Latvian Business Daily), 26.1.96.
Editor information
Copyright information
© 1997 Igors Ludborzs
About this chapter
Cite this chapter
Ludborzs, I. (1997). Accounting and Audit in Latvia. In: Hood, N., Kilis, R., Vahlne, JE. (eds) Transition in the Baltic States. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-25394-4_9
Download citation
DOI: https://doi.org/10.1007/978-1-349-25394-4_9
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-25396-8
Online ISBN: 978-1-349-25394-4
eBook Packages: Palgrave Business & Management CollectionBusiness and Management (R0)