Financial and Group Reporting Services in Latvia
Confidentum prepares statutory annual reports for Latvian companies and branches and delivers group reporting packages for subsidiaries of international groups. We reconcile Latvian accounting standards with group policies such as IFRS, support consolidation and prepare the files your auditors need.
Overview
Subsidiaries often report twice: once under Latvian rules and once for the group. We make both sets of numbers consistent, on time and easy to audit.
Who this service is for
- Latvian subsidiaries submitting group reporting packages
- Foreign-owned companies preparing statutory annual reports
- Groups needing IFRS-to-local-GAAP reconciliations
- Companies preparing for a statutory or group audit
What is included
Statutory annual reports
Preparation and filing of the annual report under Latvian law, including notes and management report.
Group reporting packages
Monthly, quarterly and year-end reporting packs in the group format and system.
IFRS and local GAAP reconciliation
Adjustments between Latvian accounting standards and group accounting policies, documented and repeatable.
Consolidation support
Intercompany reconciliations and eliminations support for group consolidation.
Audit preparation
Audit files, schedules and auditor liaison for statutory and group audits.
Management reporting
Monthly management accounts and KPI reporting in English.
How we work
Reporting requirements
We document local and group reporting requirements and deadlines.
Mapping and policies
We map accounts and agree accounting policy differences.
Reporting cycle
Packages and reports are prepared, reviewed and delivered to the calendar.
Audit support
We prepare audit files and answer auditor questions directly.
Why Confidentum
- Experience supporting subsidiaries of international groups
- Local and group numbers reconciled and explained
- Reliable delivery against group deadlines
- Direct communication with your group finance team and auditors
Related case studies
Financial Reporting: frequently asked questions
When must a Latvian company file its annual report?
It depends on company size. Micro and small companies file their annual report with the State Revenue Service no later than 5 months after the end of the financial year; medium and large companies, and those preparing consolidated accounts, no later than 7 months after year-end. For a calendar financial year that means 31 May and 31 July respectively.
Can you prepare reporting packages in our group system?
Yes. We prepare packs in the group's agreed template, mapped to the group chart of accounts.
Do you work with our group auditors?
Yes. We prepare audit schedules and supporting documentation and liaise directly with statutory and group auditors.
Discuss your Latvian accounting, tax or VAT requirements
Tell us about your structure and obligations in Latvia. An experienced specialist will review your situation and recommend the right scope.