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Does Talsi Municipality manage municipal enterprises following the principles of the rule of law and best practice?

Audit Id 1605185750406
Title Does Talsi Municipality manage municipal enterprises following the principles of the rule of law and best practice?
Title in original language

Vai Talsu novada pašvaldība pārvalda kapitālsabiedrības, sekojot tiesiskuma un labās prakses principiem?

Latvian

Year 2020
Subject

Business and Industry

Communities and Regions

Type

Compliance/Legality

Performance

Type of performance

Performed by single SAI

Comments When managing Talsi municipal enterprises, the regional government has not acted effectively and pursuant to the statutory requirements and the principles of good governance practices. It has directly affected the fact that the activities of municipal enterprises are not economic and efficient and do not comply with the requirements of laws and regulations. The auditors’ analysis of the annual financial statements of the largest municipal enterprises shows that municipal enterprises have low liquidity ratios, operate at a loss, have low return on fixed assets, and are not able to fully cover their short-term liabilities from current assets. In this situation, the citizens cannot rely on the services they need in the long run.
Country

Latvia

Materials

Press release

English

View press release

Summary

English

See summary

Audit report

Latvian

Download report
Contact
State Audit Office of the Republic of Latvia, 50 Skanstes iela, Riga, LV-1013, Phone: +371 67017500
lrvk@lrvk.gov.lv
http://www.lrvk.gov.lv
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