1. Progress of the Financial Reporting Technical Assistance Project
ANNUAL MEETING SWISS-LATVIAN COOPERATION PROGRAMME April 2014 – March 2015
Riga, 25 March 2015

2. Activities implemented during the reporting period
Enhancing institutional capacity to implement IFRS
Training on IFRS Comprehensive (May, 12 d, Riga)
30 (SRS, FCMC, T, LASA, MOF)
2*Training on IFRS Foundation (Aug; Sep, 10 d, Riga)
60 (SRS, FCMC, T, LSAO, MOF)
Training on IFRS Comprehensive for trainers (Oct, 12 d, Riga)
30 (LASA, LAA, LAAO)
IFRS workshop (June, 2 d, Vienna)
4 (SRS, FCMC)
IFRS conference (Dec, 1 d, Warsaw)
2 (MOF)
Enhancing institutional capacity to implement ISA
2*Public Oversight/Quality Assurance study visits (Oct, UK; Dec, GER)
2*Training on ISA updates (Sep, 1 d, Riga)
120 (LASA, LSAO, MOF)
Seminar on public sector auditing (Oct, 2 d, Riga)
90 (LASA, LSAO, MOF,..)
Report «Oversight and Quality Assurance in Latvia: Observations» (Dec)
Enhancing the relationship between tax and accounting
PwC`s presentation - Study report on relationship between Tax and Financial Reporting (June, 1 d, Riga)
SRS, FCMC, MOF, WB
ROSC Accounting & Auditing report
WB team ROSC mission (May, 5 d, Riga)
ROSC draft report (Dec)
MOF, MOE, SRS, FCMC, ER, LASA, ACBL, LAA, LAAO, AAC,..
SRS – State Revenue Service
FCMC – Fianacial and Capital Market Comission
LASA – Latvian Association of Sworn Auditors
LSAO – Latvian State Audit Office
T – Treasury
WB – World Bank
ER – Entrerprise Registry

3. Planned main activities (LASA, MOF)
Enhancing institutional capacity to implement ISA
Procurement until
Delivered until
IT System for Auditing (LASA)
Preparation of technical specification
Mar 2015
Apr 2015
Development
Sep 2015
IT System for the Oversight of Sworn Auditors (MOF)
Jul 2015
Aug 2015
Jun 2016
IFRS and ISAs translation project
Revision of the Latvian translation of all endorsed IAS/IFRS (MOF)

4. Planned main activities (WB)
Enhancing the relationship between tax and accounting
Study report on relationship between Tax and Financial Reporting (Apr 2015)
Study report on Tax Reporting Rules (Apr 2015)
Training for tax inspectors on financial interpretations
Study trip to Austria
Seminar on risk based tax assessment (study trip to the Netherlands)
Conference on tax and accounting
ROSC Accounting & Auditing report
ROSC report (Apr 2015)
LAA – Latvian Association of Accountants

5. Thank you for attention!
Ministry of Finance of the Republic of Latvia 1 Smilšu Str. Riga, LV – 1919 Phone.: