Audit – a formal requirement or an opportunity to prevent disaster?

In Latvia, audits are still too often perceived as a bureaucratic “tick-the-box” exercise rather than a strategic tool for business development and risk management. Yet the work of an independent auditor goes far beyond compliance – it is a crucial safeguard of public interest.

BDO Latvia Partner and Head of Audit Raivis Jānis Jaunkalns in his latest DELFI Versijas article openly addresses systemic issues in the audit field – from ignored warnings and the risks created by price dumping, to the tendency of state-owned companies to choose the cheapest, rather than the most reliable, solutions. He emphasizes that an audit is not just a service, but an opportunity to timely identify serious financial problems and prevent crises.

The article calls for a rethinking of the role and perception of audits – are they merely a formal requirement, or a real instrument for transparency, sustainability, and strengthening public trust?

📖 Read the full publication here: DELFI article