During the General Assembly meeting of the Latvian Medicines Verification Organisation (LZVO) on April 10, the association's 2023 annual report was approved. The meeting also discussed current issues and future plans regarding the organization’s activities — such as financial management, financial risks, and their management principles, as well as the maintenance and development of the medicines verification system.
In accordance with the statutes, the General Assembly meeting approved KPMG as the auditor for the financial and economic activities of LZVO for the year 2024. KPMG has conducted the 2023 financial and economic activity audit for LZVO, and the General Assembly meeting approved the independent auditor's report.
The board presented the most important issues related to the operation, maintenance, and development of the medicines verification system. Members actively discussed current financial management issues to support and promote the achievement of the association's goals, as well as financial risks and their good management principles.
The Association “Latvian Medicines Verification Organisation” (LZVO) was established in December 2016 with the aim to establish, maintain and manage the Latvian Medicines Verification System in accordance with the requirements of the European Medicines Verification System, the Falsified Medicines Directive, and the Delegated Regulation. The founders of the association are professional associations of medicines manufacturers, wholesalers, pharmacies, and other industries involved in the circulation of medicines: Association of International Research-based Pharmaceutical Manufacturers, the Latvian Generic Medicines Association, the Latvian National Medicines Supply Association, the Pharmaceutical Care Association of Latvia, and the Latvian Medicines Parallel Import Association.