News

Merhels is obliged to submit itself to an inspection of its audit practice performed by the Latvian Association of Certified Auditors (LZRA). Such inspections are carried out at least once in 6 years. The inspection process includes evaluation of policies and procedures applicable to the Firm’s audit practice. Further, the inspection team reviews select financial statements, audit reports and engagement files.
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We are pleased to announce, that Egons Liepiņš in October 2019 joined our audit and financial advisory team. He is well known and respected certified auditor and financial expert here in Latvia. Egons commenced his professional activities more than 30 years ago. 15 of those he spent at Riga office of international audit firm EY, initially as audit director and subsequently as tax partner. Further Egons has solid CFO, transaction advisory and investment making experience. Egons very much enforces our capabilities within audit and financial advisory.

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Merhels provided transaction advisory support to BPM Mezzanine Fund SICAV-SIF, SCA BPM Capital (“BPM”) within the context of BPM financing the buy-out of Smiltenes Piens AS (“Smiltenes Piens”). Smiltenes Piens is one of the leading Latvian dairy companies with a broad and high-quality product portfolio. Smiltenes Piens stands out with its excellent choice of cheese products, which are very popular in the Latvian market. Within the deal Merhels assisted BPM with financial and tax due diligence of Smiltenes Piens.

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On 19 August 2019 Merhels became the member of Latvian Chamber of Commerce and Industry (LCCI). We expect actively using LCCI ecosystem to grow our network of contacts and obtain new knowledge and information relevant for our professional activities.
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On 14 August 2019 ‘Acquisition International’ (AI) has announced Merhels as the winner of the award ‘Best SME Accountancy Firm 2019 - Latvia’.

A link to the supplement and full recipient list is HERE. The 2019 International Finance Awards press release can be found HERE.

Edvards Merhels, managing partner of Merhels, comments: “I am very proud for my team to receive the ‘Best SME Accountancy Firm - Latvia’ award, in fact third time in a row. It may seem easy going but in fact it is opposite – once you achieve something, getting to next level never becomes easier. So big and sincere thanks to my team for their hard work, innovation and dedication!”

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Merhels provided financial advisory support to AS Ekspress Grupp (“Ekspress Grupp”) on their acquisition of Biļešu Paradīze SIA (“Biļešu Paradīzea”). Ekspress Grupp is the leading media group in the Baltic States whose key activities include web media content production, publishing of newspapers and magazines and provision of printing services in Estonia, Latvia and Lithuania. Biļešu Paradīze operates the electronic ticket platform (bilesuparadize.lv) and box offices to organise the sale of tickets to various entertainment events on behalf of event organisers. The company has provided online ticket distribution for more than 15 years and is one of the two leading ticket service providers in Latvia. Within the deal Merhels assisted Ekspress Grupp with analysis of Latvian ticketing market, business valuation and financial and tax due diligence of Biļešu Paradīze.

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On 12 March 2019 ‘Acquisition International’ (AI) has announced, that as part of AI’s Leading Advisers Awards Merhels has been recognised as Leading SME Accountancy, Tax and Business Advisory of the Year, Latvia.
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Merhels has issued its Transparency Report for 2018. Transparency report is a public statement of our commitment to provide thorough audits. It briefly describes how we run the firm, perceive and perform audits.

Click here to access the report.

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