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Other audit services
We help clients with the application and use of foreign financial aid of EU and other funds and help prepare financial reports.
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Audit calculator
The calculator will answer if the company's sales revenue, assets or number of employees exceed the limit of an inspection or audit.
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Payroll and related services
We perform payroll accounting for companies whether they employ a few or hundreds of employees.
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Tax accounting
Grant Thornton Baltic's experienced tax specialists support accountants and offer reasonable and practical solutions.
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Reporting
We prepare annual reports in a timely manner. We help to prepare management reports and various mandatory reports.
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Consolidation of financial statements
Our experienced accountants and advisors help you prepare consolidation tables and make the consolidation process more efficient.
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Consultancy and temporary staff
Our experienced specialists advise on more complex accounting transactions, rectify poor historic accounting, and offer the temporary replacement of an accountant.
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Outsourced CFO service
Our CFO service is suitable for companies of all sizes and in all industries. We offer services to our clients in the required amount and competences.
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Assessment of accounting processes
We help companies to implement accounting practices that are in compliance with local and international standards.
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Accounting services for small businesses
We offer affordable service for small businesses. We help organize processes as smartly and cost-effectively as possible.
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Cryptocurrency accounting
We keep up with blockchain technology to serve and advise crypto companies. We are supported by a network of colleagues in 130 countries.
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Trainings and seminars
Our accountants have experience in all matters related to accounting and reporting. We offer our clients professional training according to their needs.
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Business advisory
We offer legal support to both start-ups and expanding companies, making sure that all legal steps are well thought out in detail.
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Fintech advisory
Our specialists advise payment institutions, virtual currency service providers and financial institutions.
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Corporate advisory
We advise on legal, tax and financial matters necessary for better management of the company's legal or organizational structure.
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Transaction advisory
We provide advice in all aspects of the transaction process.
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Legal due diligence
We thoroughly analyze the internal documents, legal relations, and business compliance of the company to be merged or acquired.
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In-house lawyer service
The service is intended for entrepreneurs who are looking for a reliable partner to solve the company's day-to-day legal issues.
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The contact person service
We offer a contact person service to Estonian companies with a board located abroad.
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Training
We organize both public trainings and tailor made trainings ordered by clients on current legal and tax issues.
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Whistleblower channel
At Grant Thornton Baltic, we believe that a well-designed and effective reporting channel is an efficient way of achieving trustworthiness.
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Business model or strategy renewal
In order to be successful, every company, regardless of the size of the organization, must have a clear strategy, ie know where the whole team is heading.
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Marketing and brand strategy; creation and updating of the client management system
We support you in updating your marketing and brand strategy and customer management system, so that you can adapt in this time of rapid changes.
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Coaching and development support
A good organizational culture is like a trump card for a company. We guide you how to collect trump cards!
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Digital services
Today, the question is not whether to digitize, but how to do it. We help you develop and implement smart digital solutions.
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Sales organisation development
Our mission is to improve our customers' business results by choosing the right focuses and providing a clear and systematic path to a solution.
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Business plan development
A good business plan is a guide and management tool for an entrepreneur, a source of information for financial institutions and potential investors to make financial decisions.
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Due diligence
We perform due diligence so that investors can get a thorough overview of the company before the planned purchase transaction.
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Mergers and acquisitions
We provide advice in all aspects of the transaction process.
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Valuation services
We estimate the company's market value, asset value and other asset groups based on internationally accepted methodology.
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Forensic expert services
Our experienced, nationally recognized forensic experts provide assessments in the economic and financial field.
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Business plans and financial forecasts
The lack of planning and control of cash resources is the reason often given for the failure of many businesses. We help you prepare proper forecasts to reduce business risks.
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Outsourced CFO service
Our CFO service is suitable for companies of all sizes and in all industries. We offer services to our clients in the required amount and competences.
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Reorganization
Our experienced reorganizers offer ways to overcome the company's economic difficulties and restore liquidity in order to manage sustainably in the future.
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Restructuring and reorganisation
We offer individual complete solutions for reorganizing the structure of companies.
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Corporate taxation
We advise on all matters related to corporate taxation.
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Value added tax and other indirect taxes
We have extensive knowledge in the field of VAT, excise duties and customs, both on the national and international level.
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International taxation
We advise on foreign tax systems and international tax regulations, including the requirements of cross-border reporting.
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Transfer pricing
We help plan and document all aspects of a company's transfer pricing strategy.
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Taxation of transactions
We plan the tax consequences of a company's acquisition, transfer, refinancing, restructuring, and listing of bonds or shares.
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Taxation of employees in cross-border operations
An employee of an Estonian company abroad and an employee of a foreign company in Estonia - we advise on tax rules.
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Tax risk audit
We perform a risk audit that helps diagnose and limit tax risks and optimize tax obligations.
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Representing the client in Tax Board
We prevent tax problems and ensure smooth communication with the Tax and Customs Board.
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Taxation of private individuals
We advise individuals on personal income taxation issues and, represent the client in communication with the Tax and Customs Board.
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Pan-Baltic tax system comparison
Our tax specialists have prepared a comparison of the tax systems of the Baltic countries regarding the taxation of companies and individuals.
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Recruitment services – personnel search
We help fill positions in your company with competent and dedicated employees who help realize the company's strategic goals.
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Recruitment support services
Support services help to determine whether the candidates match the company's expectations. The most used support services are candidate testing and evaluation.
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Implementation of human resource management processes
We either assume a full control of the launch of processes related to HR management, or we are a supportive advisory partner for the HR manager.
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Audit of HR management processes
We map the HR management processes and provide an overview of how to assess the health of the organization from the HR management perspective.
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HR Documentation and Operating Model Advisory Services work
We support companies in setting up HR documentation and operational processes with a necessary quality.
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Employee Surveys
We help to carry out goal-oriented and high-quality employee surveys. We analyse the results, make reports, and draw conclusions.
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HR Management outsourcing
We offer both temporary and permanent/long-term HR manager services to companies.
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Internal audit
We assist you in performing the internal audit function, performing internal audits and advisory work, evaluating governance, and conducting training.
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Internal Audit in the Financial Services Sector
We provide internal audit services to financial sector companies. We can support the creation of an internal audit function already when applying for a sectoral activity license.
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Audit of projects
We conduct audits of projects that have received European Union funds, state aid, foreign aid, or other grants.
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Prevention of money laundering
We help to prepare a money laundering risk assessment and efficient anti-money laundering procedures, conduct internal audits and training.
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Risk assessment and risk management
We advise you on conducting a risk assessment and setting up a risk management system.
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Custom tasks
At the request of the client, we perform audits, inspections and analyzes with a specific purpose and scope.
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External Quality Assessment of the Internal Audit Activity
We conduct an external evaluation of the quality of the internal audit or provide independent assurance on the self-assessment.
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Whistleblowing and reporting misconduct
We can help build the whistleblowing system, from implementation, internal repairs and staff training to the creation of a reporting channel and case management.
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Sustainability advisory
We help solve issues related to the environment, social capital, employees, business model and good management practices.
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Sustainability audit
Our auditors review and certify sustainability reports in accordance with international standards.
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Sustainable finance
We help investors to analyze the environmental issues, social responsibility and good management practices of the company of interest.
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Sustainable tax
Our international tax specialists define the concept of sustainable tax behavior and provide services related to sustainable tax behavior.
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Digital strategy
We help assess the digital maturity of your organization, create a strategy that matches your needs and capabilities, and develop key metrics.
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Intelligent automation
We aid you in determining your business’ needs and opportunities, as well as model the business processes to provide the best user experience and efficiency.
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Business Intelligence
Our team of experienced business analysts will help you get a grip on your data by mapping and structuring all the data available.
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Cybersecurity
A proactive cyber strategy delivers you peace of mind, allowing you to focus on realising your company’s growth potential.
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Innovation as a Service
On average, one in four projects fails and one in two needs changes. We help manage the innovation of your company's digital solutions!
Companies trading with financial instruments should apply for an LEI code now, as in the absence of one they are not able to buy and sell securities listed on stock exchanges as of 3 January 2018. It means that all companies who trade assets such as shares, bonds or derivatives on securities markets through an investment service provider (such as banks) will have to apply for an LEI code.
As of 3 January 2018, an LEI code is required for companies that carry out transactions either in a trading venue[1] or outside a trading venue in connection with financial instruments which are admitted to trading or traded on a trading venue or for which a request for admission to trading has been made, as well as if the underlying is a financial instrument traded on a trading venue or an index or basket composed of financial instruments traded on a trading venue.
The basis for the LEI code requirement is the Markets in Financial Instruments Directive 2014/65/EL[2] (MiFID II), which comes into force on 3 January 2018. The directly applicable regulation (EU) no. 600/2014[3] (MiFIR) will also come into effect. Pursuant to Article 26 of the MiFIR, all investment service providers will henceforth have to report certain securities transactions ordered by clients.
The LEI code – the Legal Entity Identifier– is a globally used code for identification of companies, consisting of a 20-digit alphanumerical code. We draw attention to the fact that this is a code used to identify legal persons – private individuals do not need the code and indeed it is not issued to them. Each LEI code is unique and exclusive; it is assigned to each company on a one-time basis and the same code cannot be reassigned to anyone else. The LEI code does not replace, nor is it equivalent to, the Estonian Commercial Register code.
Why is the LEI code required and what happens if my company does not apply for one?
The LEI code associates the company with their primary information (name, location etc.). The LEI code can be used to identify companies participating in global financial markets for supervisory purposes. As of 3 January 2018, the LEI code will be used on basis of the MiFIR, in connection with reporting investment service providers’ security transactions to supervisory bodies, by using the LEI code to identify clients that are companies. Transaction reports are used in order to identify and investigate market abuses and for monitoring transactions and investment service providers’ activities. The form for the transaction report is established by European Commission implementing regulation.
If a client who is a company fails to submit to its investment service provider information necessary for reporting security transactions, including the LEI code, the service provider will be unable to discharge its reporting obligation under law. As a result, the investment service provider may deny providing services. It means a client who is a company will be unable to execute transactions involving securities listed on an exchange.
Applying for the LEI code
Currently no service provider in Estonia issues LEI codes. For that reason, an issuer operating in another member state must be contacted. The LEI code is also in use outside Estonia. There is a fee for applying for the LEI code (about 100 euros) and the process takes about a week. An annual fee may also apply.
See a list of LEI issuers here.
Grant Thornton Baltic has sought LEI codes for its clients via the WM-Leiportal. The first-time registration costs 80 euros through this site, and the code is good for one year. Extending by one year costs 70 euros. A number of LEI code issuers charge over 100 euros in service fees.
[1] A trading venue is defined as a regulated market, multilateral trading facility or organised trading facility.
[2] Available online: http://eur-lex.europa.eu/legal-content/ET/TXT/PDF/?uri=CELEX:32014L0065&from=EN
[3] Available online: http://eur-lex.europa.eu/legal-content/ET/TXT/PDF/?uri=CELEX:32014R0600&from=EN
Author: Henri Parisalu