|
AssociationLatvian Association of Certified Auditors (LACA) is an independent professional corporation founded in 1994 under the Law on Certified Auditors. The organisation was founded by 75 certified auditors and its prime origin can be traced back to July 12th, 1938 when the Law on Certified Auditors was adopted by the Cabinet of Ministers of the Republic of Latvia and proclaimed by the State President. LACA is the only professional organisation in Latvia that unites all the certified auditors and commercial companies of certified auditors. Presently the LACA is comprised of 140 certified auditors and 121 commercial companies of certified auditors. The mission of the Association as an independent professional corporation of certified auditors is to implement professional self-regulation of certified auditors in order to promote increase in professional qualification, develop creative skills and assimilate experience, as well as maintain high professional standards and support its legal protection. The activities of the Association are focussed to meet the targets as defined by the Law on Certified Auditors, including: - supervising compliance with professional standards and ethical norms, as well as other regulatory enactments applicable to the profession, and of the professional activity of the members of the association;
- representing interests of its members and defending them, organising qualification exams for sworn auditors, as well as deciding on the issuance of a certificate to a certified auditor and on the issuance of a licence to a commercial company of certified auditors;
- organising the Certified Auditor Register and the Register of Commercial Companies of Certified Auditors;
- examining disputes between certified auditors and clients at the request of one of the parties to the dispute;
- organising professional education and training for certified auditors;
- preparing recommendations to address issues of accounting standards and audits and submitting them to legislative bodies;
- ensuring quality control over activities of certified auditors.
To meet these targets and objectives, there are several standing committees formed in the LACA: - Examination Committee – organises qualification exams for candidates;
- Expert Committee – prepares the opinion of the Association on laws and regulations in relation to the profession of certified auditor and represents LACA in legislative working groups;
- Ethics Committee – develops professional norms of ethics for certified auditors, examines cases of violation of professional norms of ethics by certified auditors in scope of disciplinary process;
- Education Committee – organises training for certified auditors and facilitates assimilation of experience;
- Quality Committee – exercises quality control over the activities of certified auditors and commercial companies of certified auditors. Examines disciplinary matters;
- Licensing - Certifying Committee – issues licences to commercial companies of certified auditors and certifies certified auditors.
|
