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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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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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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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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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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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We help companies to implement accounting practices that are in compliance with local and international standards.
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We offer affordable service for small businesses. We help organize processes as smartly and cost-effectively as possible.
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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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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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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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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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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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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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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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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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We provide advice in all aspects of the transaction process.
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We estimate the company's market value, asset value and other asset groups based on internationally accepted methodology.
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Our experienced, nationally recognized forensic experts provide assessments in the economic and financial field.
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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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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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We assist you in performing the internal audit function, performing internal audits and advisory work, evaluating governance, and conducting training.
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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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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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Our auditors review and certify sustainability reports in accordance with international standards.
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We help investors to analyze the environmental issues, social responsibility and good management practices of the company of interest.
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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!
To give people freedom and responsibility in their work, these values must be a part of organisational culture.
The precondition is a working environment where failures and mistakes are allowed and instead of routine feedback there is also feedforward, says Grant Thornton Baltic’s Head of People & Culture, Marge Litvinova, who shares her experiences and knowledge in more detail.
Which companies have you worked for and in what positions?
I can divide my career in the human resources field into three stages: the first and longest one was 15 years at a large sales organization, Telemedia Estonia, and its subsidiaries. Then I was an entrepreneur for five years. The third stage at Grant Thornton Baltic is ongoing.
My path in the world of HR management got started out of pure chance. I was studying international financial management at university and held a job at a recently established subsidiary of Telemedia Estonia, Teabeliin AS – which ran the 1188 information line – as a telephone operator. As the popularity of the information line was growing, it was decided to divide 50 telephone operators into the teams and I got the offer to lead a team of 10. As a 20-year-old, it seemed like a major challenge, because the team members ranged widely in age and good relations had to be maintained with all. Thinking back on that time, this was my first step in the field of HR management. The work of a team leader was directly related to people, organizing their work and giving and receiving feedback.
A few years later, I got the proposal to join an advertising sales department as a recruiter and in-house trainer. To be able to train sales representatives, I made a goal to understand what active selling is about during my practical work. Sales is certainly not an easy line of work, but it gave me a very strong skill set in terms of confident communication and establishing a relationships with total strangers. As recruitment had always been part of my duties in my professional life, I can say that the experience in active sales gave me a lot to be a successful recruiter.
From there on, my career path continued with roles related to HR management in Telemedia Estonia Group, which could be summed up by the title HR generalist. For a large part of the time, I was involved in management work, which gave me a chance to see the big picture, understand the company’s business processes and work alongside great business leaders. As Telemedia Estonia was originally part of Sweden’s Telia, I had already experienced superb management culture and systematic activity early on.
In 2012, my time at Telemedia came to an end after the ownership change and I found myself on the labor market looking for my next challenge. I didn’t become a wageworker and decided to put myself to the test in the business world, offering various HR-related services. Over a five-year period, I found several companies with whom I had a good cooperative relationship, and that is how Grant Thornton Baltic also found its way to me as a client. Three years ago, I accepted Grant Thornton Baltic’s offer to join the company permanently in the role of Head of People & Culture.
I’m currently in charge of various people-related projects and processes and much of my job involves recruitment of specialists. Besides my job as HR manager, I also provide advisory services to Grant Thornton Baltic’s clients on topics related to HR management and change management. Grant Thornton is a developing, pro-innovation company. My job is an interesting one with fascinating tasks for every day.
Why did you choose HR management? What inspires you?
There are several reasons. First, I like people. It’s fascinating to get to know different types of human and hear different stories. Secondly, I like diversity. I enjoy speaking to both my teenage daughter’s school friends and the friends of my mother, a retiree. The same is at work. There’s something to learn from everyone. Third, human resources management is extremely fascinating and variegated field. In what other field can so many roles be fulfilled – from lawyer to psychologist?
The status quo – it’s just not for me. I am inspired by being able to build and manage changes. Change management is a process that takes much effort but as head of People & Culture, I can take part in shaping the employee experience and guide them through the changes. Good, constructive feedback on all aspects is also important for me. For example, I ask my colleagues for feedback twice a year.
In your opinion, what role does an HR manager have for a company’s CEO?
A good CEO sees the HR manager as a right-hand person. I think the HR manager role has become much more strategic and it is not just an administrative role for a long time anymore. HR manager is source of a support, someone the CEO and other leaders can lean on, giving advice and supporting for fulfilling the company’s goals. A good HR manager has a sense of the organisation’s temperature and raises issues that otherwise would n’t find the way to the managers´ desks. In recruitment, it’s a top priority for me to find people who have suitable culture-fit with the comapny and share the same values. By knowing all our employees, I can help with the decision-making process.
How to give negative feedback?
In situations where I had to give or receive negative feedback, I always think about how we got to this situation. Based on my experience, I can say that many failures, misunderstandings and communication breakdowns are caused by the lack of communication, trust issues and vague expectations. It’s always worth looking at a situation through the eyes of the person who is receiving the feedback. Certainly, feedback should take place one-on-one or in a small circle to people affected by the feedback and it should not be emotional or judgmental.
Both the employee and manager have things to learn from every situation. It’s always worth thinking whether the expectations were actually negotiated and interpreted similarly, whether sufficient information was provided, and so on. The end result of the feedback depends on how the message was delivered and what the feedback culture in the company is in general.
Something I certainly don’t recommend, is giving negative feedback in written way. I recommend always to take time for direct communication, because today there are more than enough channels for communicating.
How to give employees freedom and responsibility in their work?
To give people freedom and responsibility in their work, it must be a part of the organizational culture. The precondition is a working environment where failure and mistakes are allowed and instead of routine feedback there is also feedforward. It is definitely beneficial if managers show a sincere interest in their employees, taking time to listen how things are really going and what sort of support they need to achieve their goals. I myself have had the honor to work in environments where managers don’t interfere in people’s work at the grassroots level. I must say that my current employer gives a enough autonomy to our employees to perform well and our people value this a lot.