I look forward to promoting stronger U.S.-Latvia ties and working with AmCham members to ensure Latvia is a trusted destination for international business.
John Tully, Chairman of the Board of MikroTik
Two main strategic goals of the strategy of State Audit Office (SAO) is to ensure achieving 1:5 principle and raising the accountability of public officials. By 2017 SAO plans to achieve the 1:5 ratio so that each euro spent for financing of SAO, brings back 5 euro to the state budget that are recovered in the result of implementation of audit recommendations. With introduction of financial liability for the damage caused by the breach of law or non-performance, SAO please to increase the accountability of public officials.
Speaking about state owned enterprises (SOEs), the Auditor General stressed that recent audits in companies such as "Passenger Train" and "Latvian Road Directorate" have revealed inefficient use of 41.6 million EUR.
The Auditor General emphasized that cosmetic adjustments to the legal framework are not sufficient, therefore a more complex set of actions is needed. The first and the most effective management solution would be to identify problems and find possible solutions, afterwards including them in policy planning documents.
To find out about the event in the website of State Audit office click here.
Being part of AmCham community brings valuable networking opportunities in different business areas as well as informal connections within Business After Hours.
Janis Zigurs, Business Manager Baltics & Iceland at Kenvue