The Saeima has adopted and the President promulgated the following laws: the amendments to the law "on sworn auditors" make law "on sworn auditors" (Latvian Saeima and the Cabinet of Ministers rapporteur, 2001, no. 12) the following amendments: 1. Replace the entire law, the word "Finance" with the word "financial".
2. in article 1: (1) be expressed as follows: "1) opinion — sworn auditor shall form an integral part of the report, which clearly expressed a view on whether the annual accounts, the consolidated annual report, the financial statements give a true and fair view of the financial position of the customer, profit or loss and cash flows in accordance with the relevant financial reporting principles (standards) and comply with the legislation. Opinion may be unconditional, opinion with caveats and negative opinion; "
make point 7 by the following: ' 7) auditor's report: a sworn auditor prepared a document containing: (a)) that identifies the type of the audited financial statements, and included details of the client and sworn auditor's liability, b) audit of work description and a reference to the audit standards followed in auditing, sworn auditor's opinion) or refusal to provide opinion, reference to all the circumstances of d) for which the sworn auditor wants to draw attention to the , e) sworn auditor's opinion as to whether the management report is consistent with the financial statements, but in appropriate cases — or consolidated report corresponds to the consolidated financial statements; "
to supplement the article with the following paragraph 12: ' 12) Latvia recognised international auditing standards — Latvian certified auditor approved by the Association of the International Federation of Accountants international auditing standards issued. "
3. Article 10: replace the first paragraph, the words "the Latvian Council of sworn auditors Association established" with the words "cabinet order";
replace the second paragraph, the words "the Latvian Council of sworn auditors Association" with the words "Cabinet";
Add to sixth after the word "Board" with the words "in coordination with the Ministry of finance".
4. Supplement article 11 the third paragraph after the word "Board" with the words "in coordination with the Ministry of finance".
5. Add to article 12, the second paragraph after the word "Association" with the words "in coordination with the Ministry of finance".
6. Add to article 15 of the fourth paragraph, after the word "complaint" with the words "the competent Latvian Sworn Auditors Association Standing Committee".
7. Make the second subparagraph of article 17 (2) of the following: "2) violated this law, Latvia recognised international auditing standard, certified auditor professional regulatory requirements or instructions are not followed the rules of the professional code of ethics."
8. Make the second subparagraph of article 18 (2) of the following: "2) repeatedly violated this law or another certified auditor professional regulatory legislation and guidelines, as well as in Latvia, the recognized international audit standards or not followed the rules of the code of professional ethics or the breach or obligation non-fulfilment is incompatible with the sworn auditor's activities."
9. in article 22: make the first paragraph by the following: "(1) to get a license, the applicant, certified auditor company — submitted to the Latvian Council of sworn auditors Association license application and other Cabinet documents specified. Submission of the document is determined by the Cabinet of Ministers. ";
turn off the third;
supplemented with the sentence of the fourth subparagraph by the following: "the amount of Latvian Association of sworn auditors, coordinate with the Finance Ministry."
10. Turn off the sixth part of article 23.
11. Supplement article 27, second sentence, after the words "the third paragraph" with the words "and the law" on prevention of money laundering ".
12. Supplement article 28, first subparagraph after the word "regulations" with the words "subject to the Latvia recognized international audit standards".
13. off article 31, second sentence of the second paragraph, the words "and individuals".
14. Add to article 34 of the third part as follows: "(3) audit working papers are available for audit services quality control needs. Persons carrying out audits of quality control services are subject to the same confidentiality requirements laid down in the sworn auditor. "
15. the supplement to Chapter VII article 35.1 as follows: "article 35.1. Audit quality control services (1) the Association of Latvian certified auditor provides the audit quality control services, in order to meet legislative and Latvia recognized international auditing standards, professional ethics and independence.
(2) audit services quality control not less frequently than every five years, is subject to all of the certified auditor commercial companies and sworn auditors who perform professional activities as sole proprietors or self-employed persons.
(3) the quality control of the audit services shall be carried out in accordance with the Charter, which, in coordination with the Ministry of finance approves the Latvian Council of sworn auditors Association. "
16. off the second subparagraph of article 36, the second sentence.
17. Article 37 be expressed as follows: "article 37. The Latvian Council of sworn auditors Association national monitoring (1) matters related to the certified auditor certified auditor certification, licensing and other commercial companies that rule the Latvian Council of sworn auditors Association tasks delegated to the Latvian Council of sworn auditors Association is under the supervision of the Ministry of finance.
(2) the authorized representative of the Ministry of Finance shall be entitled to participate in the Latvian Council of sworn auditors Association general meetings, Board meetings and meetings of the Commission, as well as to become familiar with the decisions of the Association.
(3) the Finance Ministry authorised representatives have the right to request from the Latvian Council of sworn auditors Association, all the information, documents and explanations that are necessary for the provision of monitoring. "
18. the title of chapter IX be expressed by the following: "chapter IX. Responsibility, complaints and dispute procedures ".
19. off 38. and article 39.
20. Article 40 of the expression as follows: "article 40. The Latvian Council of sworn auditors Association's decision to challenge and appeal (1) a complaint about the Latvian Council of sworn auditors Association, illegal or inappropriate operation of the Statute of the Court.
(2) the Latvian Council of sworn auditors Association decision related to the certified auditor certified auditor certification, licensing and other commercial companies that rule the tasks delegated to it, you can challenge the Ministry of finance. The Finance Ministry's decision in the procedure prescribed by law may be appealed to the Court. "
21. To supplement the law with the informative reference to European Union directives as follows: "Informative reference to European Union directives, the law includes provisions arising from the Directive 84/253/EEC, 89/48/EEC and 95/26/EEC."
The Parliament adopted the law of 22 January 2004.
State v. President Vaira Vīķe-Freiberga in Riga 2004, on 5 February, the Editorial Note: the law shall enter into force on 19 February 2004.