From 2025 the State Audit Office will conduct an audit of consolidated financial statements of the government which will ensure full coverage of the state budget and broad oversight of the country's financial accounting and reporting system.
The prerequisite for the audit of the consolidated financial statements of the government is the financial audit of tax revenues, which was conducted by the SAO for the first time last year and is also included in the 2024 audit plan.
In order to strengthen its revenue audit capabilities, the State Audit Office is studying international practice. In this respect the auditors have already been trained by the World Bank experts.
The State Audit Office has thus shared audit related experience with the Supreme Audit Institution of Latvia. With the exchange of experiences, Latvian experts conducted a seminar for the auditors of the SAO regarding the international practices of the audit of the consolidated financial statements and the use of IT control testing methods in the financial audit.
Latvia is considered a leading SAIs in the audit of consolidated financial statements.
