About Us


Mission To bring you the peace of mind regarding your financial position
Value proposition Strict compliance with applicable technical standards or best practices
Personal service
Prices at discount to Big 4
Service delivery features Experienced teams
Focus on efficient communication
Customer focus Small and medium size private businesses which value technical excellence and personalized attention
Track record 300+ financial outsourcing projects
500+ specialist advisory engagements
700+ tax advisory and transfer pricing projects
1000+ financial audits
International affiliation A member of the global network of CBA Cross Border Associates (www.cba.associates)


  • 1998

    August: the firm established as an audit and tax practice

  • 2000

    May: launch of transaction advisory and business valuation services

    June: affiliation with Moores Rowland International

  • 2002

    August: departure from Moores Rowland International

  • 2004

    June: launch of accounting services

    September: affiliation within Grant Thornton International

  • 2007

    2007: moved to office premises at Citadeles 12, Riga

  • 2009

    September: launch of internal audit

  • 2011

    October: departure from Grant Thornton International

  • 2013

    March: affiliation with RSM International

    December: launch of CFO outsourcing services

  • 2015

    January: departure from RSM International

    May: repositioning to status of a national firm with focus on financial advisory and accounting

    December: affiliation with CBA Cross Border Associates, a global network of business consultants

  • 2016

    July: Finance Monthly announces Merhels as the winner of the award ‘Strategic Business Consultant Firm of the Year Latvia’

    October: Wealth & Finance INTL announces Merhels as the winner of the ‘2016 Tax Excellence Award’

  • 2017

    March: Lawyer Monthly selects Edvards Merhels for ‘Expert Witness Awards 2017’

    September: Acquisition International announces Merhels as the winner of the award ‘Best Accountancy Firm 2017 – Latvia’

  • 2018

    August: Merhels celebrates 20 years of business

    August: Acquisition International announces Merhels as the winner of the award ‘Best Accountancy Firm 2018 - Latvia’

  • 2019

    March: Acquisition International announces Merhels as the winner of the award ‘Leading SME Accountancy, Tax and Business Advisory of the Year, Latvia’

    August: Acquisition International announces Merhels as the winner of the award ‘Best SME Accountancy Firm 2019 - Latvia’

  • 2021

    March: Finance Monthly’ announced Merhels as the M&A Advisory Firm of the Year Latvia

    September: Merhels moved to office premises at Republikas laukums 3-124, Riga

  • 2023

    April: M&A Today announced Merhels as ‘Best Accountancy Firm Latvia 2023’




Over the years we have accumulated experience working with all sizes of private sector organizations engaged in different sectors and having different cultural backgrounds.

We have experience in servicing customers operating in agriculture, construction, education, energy, hotel & entertainment, holding company operations, investment management, IT, manufacturing, medical services, media, not-for-profit, pension management, private equity, professional services, retail, transport & logistics, technical trade, wholesale.

In terms of ownership structure, more than 70% of our customers are foreign investors. Most of these come from Scandinavia and our close neighbours – Estonia and Lithuania. To lesser but still significant extent we work with foreign investors from Germany, France, Netherlands and United Kingdom. We as well have experience of working with customers from Armenia, Austria, China, Czech Republic, India, Poland, Russia, Spain and United States of America.