News

Merhels has issued its Transparency Report for 2015. Transparency report is a public statement to clients, audit committees, regulators and the wider public of our commitment and ability to provide quality audit services. It briefly describes how we run the firm, perceive and perform audits.

Click here to access the report.

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On 19 November 2015 the Cabinet of Ministers cleared the deal with German entrepreneur Ralf-Dieter Montag-Girmes (RDMG) which stipulates that RDMG will invest into the national aviation company airBaltic €52 million and will get 20% of airBaltic’s shares. The deal is now pending review and clearance by the Parliament. Currently the primary shareholder of airBaltic is the State of Latvia, which holds 99.8% of airBaltic’s shares.

Merhels performed financial due diligence of airBaltic and provided financial and tax advice to RDMG during pre-closing stage of the deal. The Merhels team on this project was led by Edvards Merhels, the Firm’s managing partner.

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Merhels has issued its annual Doing Business in Latvia guide. This guide has been prepared for the assistance of those interested in doing business in Latvia. It does not cover the subject exhaustively but is intended to answer some of the important, broad questions that may arise. This guide contains only brief notes and includes legislation in force as of September 2015.

Click here to access the guide.

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Merhels Revidenti Konsultanti adopts ‘Merhels’ as its brand name together with a new visual identity. The new brand identity aims to communicate the shift in the Firm’s strategic development and to reinforce the Firm’s strong commitment to quality and integrity.
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On 18 September 2015 ‘Acquisition International’ (AI) has announced Merhels as the winner of the award ‘Recognised Leader in Audit Services’ and ‘Tax Services’ for Latvia.
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BaltCap, the leading private equity and venture capital firm in the Baltics, has signed an investment agreement with Pure Chocolate, the leading Latvian producer of high quality truffles. Pure Chocolate enjoys strong market position in Latvia and rapidly grows its export markets. The fast growth story of Pure Chocolate has been based on high quality chocolate products, professional team and strong brand. Within the deal Merhels assisted BaltCap with execution of financial and tax due diligence of Pure Chocolate.

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Due to internal training and teambuilding event the office will be closed on 10 July. We will get back to our desks on 13th. In case of urgent requests call us to our mobiles. We will respond as soon as we can.

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Finance Monthly has announced Merhels as the winner of the award ‘Strategic Business Consultant Firm of the Year Latvia’.
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Starting from December 2013 until close of January 2015 Merhels provided CFO outsourcing services to SLO Latvia, one of the leading electrical wholesalers in Latvia. The scope of the work included compilation and analysis of management information, providing advice on financial matters to the management and handling audit project to name the few of tasks entrusted to us.

In 2014 Merhels was appointed to assist Olympic Casino Latvia (OCL) with implementation of tax risk management system. Early in January 2015 the project was cleared. During engagement we analysed the overall risk management framework of OCL under COSO model, we provided recommendations as to changes needed within the processes and policies and we organised brainstorming sessions to identify, assess and document tax risks.

Above projects provided significant contribution to enhancing our skills and broadening our mind-set.

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