About
As of 01-01-2016, three budgetary institutions (Audit and Accounting Office, Asset Valuation Supervision Department and Enterprise Bankruptcy Management Department under the Ministry of Economy) were reorganized into a new budgetary institution - Audit, Accounting, Property Valuation and Insolvency Management Office under the Ministry of Finance of the Republic of Lithuania. to which all rights and obligations of the three institutions have been transferred.

The Audit, Accounting, Property Valuation and Insolvency Management Service under the Ministry of Finance of the Republic of Lithuania (hereinafter - the Office ) is an executive institution of the Republic of Lithuania financed from the state budget.

The Office shall perform the following functions:

1. In the field of auditing and financial reporting to ensure public oversight of auditors and audit firms and the reliability of financial reporting information.
2. In the field of property and business valuation to ensure the quality of property and business valuation and the protection of the rights and legitimate interests of property or business valuers, property and business valuation companies and the public.
3. Insolvency - bankruptcy and restructuring of companies, bankruptcy of natural persons, protection of employees in the event of the insolvency of their employer, in order to balance the interests of bankruptcy or bankruptcy proceedings with their creditors or to allow legal persons in financial difficulties and bankruptcy, maintaining and developing operations, paying off debts and avoiding bankruptcy, and ensuring the efficiency of bankruptcy or restructuring processes.