We support businesses in improving and implementing accounting and financial processes, helping them establish a clear, transparent and compliant accounting system.
We assess existing accounting and financial processes, identify gaps and develop solutions to improve them, taking into account the company's business model and financial reporting needs.
Preparation and implementation of internal control procedures and policies to ensure well-structured financial processes and compliance with applicable Latvian laws and regulations.
We review the chart of accounts, accounting methods, revenue and expense recognition, provisions, deferred income and prepaid expenses, adapting processes to the specific needs of the business.
We organise financial data and its classification so that information can be used effectively for financial reporting, analysis and management decision-making.
We develop and organise existing process documentation and provide recommendations for streamlining, digitising and automating accounting processes.
An effective accounting system is more than a technical bookkeeping solution. It helps a business maintain reliable data, clear accountability, controlled processes and timely access to financial information.
For new accounting outsourcing providers, we prepare the internal control system required for submission to the State Revenue Service (VID) as part of the process of obtaining an accounting outsourcing services licence.
Preparation of internal control systems
Well-designed financial processes help a business not only maintain high-quality accounting records, but also manage day-to-day operations more effectively.
Clearly defined activities and responsibilities across financial processes.
Structured financial information for analysis and management needs.
Processes and control mechanisms that help reduce the likelihood of errors and risks.
Get in touch with Vertigo Group to discuss your company's accounting processes, internal controls and opportunities to make them more efficient and transparent.