Country profile

Latvia

7 entries from 7 of our maps, in one place. Open a map to see Latvia beside the rest of the world.

Audit Oversight Bodies

Public audit-oversight bodies (POBs) and IFIAR membership by country

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Not IFIAR member

Financial and Capital Market Commission (FCMC) – Audit Oversight Division

PAO: Latvian Association of Certified Auditors (LRCA) · ~130 registered audit firms · ~270 registered auditors · FCMC oversees PIE auditors; LRCA handles QA for non-PIEs and registration

Sustainability Framework Adoption

Sustainability-reporting standards adopted by country (ESRS, ISSB, GRI, TCFD)

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ESRS (EU)

ESRS

Large PIEs · FY 2024 (Wave 1)

Professional Accountancy Organisations

Accountancy bodies (PAOs) and their IFAC membership, by country

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IFAC member

Latvian Assoc. of Certified Auditors (LZRA)

IFAC member · Accountancy Europe · Founded 1994

Company Registry Portals

Where company financial statements are filed and published, by country

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All entities

Register of Enterprises of the Republic of Latvia

All SIA, AS and other legal entities · Annual accounts filed and freely available online

Accountant & Auditor Salaries

Gross annual pay of accountants and external auditors, in US dollars (2026)

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$7,500–20,000

Accountant: $15,948 a year

  • Accountant: $15,948 a year (modelled estimate)
  • External auditor: $21,983 a year (modelled estimate)
  • Average for all jobs: $21,552 a year

Modelled values use global occupational multipliers; use as directional estimates.

Gross pay in nominal US dollars (2026), not adjusted for living costs.

Country Challenges

The main challenge for accounting and audit in each country, from public evidence (2026)

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Audit quality

Audit fee pressure

  • Evidence: Historical evidence — an older finding; it may no longer hold
  • Scope: Statutory audit

Research identifies remuneration and auditor independence issues affecting audit practices.

Source: (PDF) Changes and Challenges Facing the Audit Profession in Latvia (academic research)

GDP per Capita

GDP per capita (current US$), 2025 — World Bank Open Data

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High income · over $14,005

$26,312

GDP per capita (current US$), 2025 · High income · over $14,005

Business opportunities

No live listings in Latvia right now.

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Not on these maps yet: Accounting News, Annual Report Awards, Accounting History.

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