Bank of Latvia Bank of Latvia The Bank of Latvia () is the central bank of Latvia. It is one of the key public institutions and carries out economic functions as prescribed by law. It was established in 1922. The principal objective of the Bank of Latvia is to regulate currency in circulation by implementing monetary policy to maintain price stability in Latvia. Until 31 December 2013, the bank was responsible for issuing the former Latvian currency, the Lats. The Bank of Latvia administration is located in Riga. The fiscal year for the bank begins on 1 January and ends on 31 December.
State Audit Office of the Republic of Latvia State Audit Office of the Republic of Latvia The State Audit Office of the Republic of Latvia (SAO: ) is a public auditing body overseeing the finances of national and local government in Latvia. It was first created in 1918, and re-established in 1992 when Latvia again became independent. According to the Constitution and the Law of the State Audit Office of the Republic of Latvia, is an independent collegial institutional body in the Republic of Latvia and is subject only to the Law. Its task is to monitor the state and local government funds for legitimate, effective and efficient