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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!
Amendments to the Occupational Health and Safety Act that came into force on 1 January 2019 will lead to a decrease in the administrative burden on employers. The terms for organising occupational health checks will be changed, provision of instruction to employees will become more flexible and the procedure for registering occupational safety instructions will also become simpler.
Employers will have more ways to motivate employees to practise safe working methods and use the required personal protective devices. Fines for employees who violate the rules will also increase.
Changes in performing occupational health checks
From now on, employers have a significantly longer period to schedule a medical examination for their employees. It may be scheduled for any time during the probationary period (within four months of being hired), not only during the first month of employment. It is important to emphasise that the employer must determine in the working environment risk analysis whether the employee needs to undergo a medical examination – if the risk analysis shows that the employee is exposed to hazards or if they may affect his or her health, the employee must undergo a medical examination.
As an exception, an employee must always undergo a medical examination before being exposed to a hazard in the workplace – in other words, before they start working in a work environment with risks and risk factors such as biological hazards, carcinogens, mutagens, exposure to lead and lead compounds and asbestos dust. In addition, the obligation to schedule a medical examination remains in place for employees working night shifts before they start working nights.
Regardless of the outcome of the risk analysis, it is compulsory to arrange a medical examination for employees working at night and employees who are exposed to lead, lead compounds or asbestos dust.
Providing instruction to employees
As a result of the changes, employers have more flexibility and decision-making power as to how and to what extent to provide instruction to employees. Categories of instruction are no longer defined in legislation – they used to be primary, introductory and in-service instruction. Now, instruction is divided into theoretical and practical instruction. In the course of practical instruction, employers arrange for practical training for employees, taking into account the peculiarities, complexity and hazards of the work. The objective of training is to teach safe techniques. Employers must be sure that before starting work, the employee has learnt safe techniques for working and that he or she can use them in practice.
The procedure for registering instruction will also become simpler. Now the employer registers the dates on which the instruction or training takes place and the content of the instruction or training in writing or a form reproducible in writing. This significantly lowers the administrative burden on employers and there is no obligation to keep a comprehensive diary on administering instruction. Instead, the necessary data (date and content of the instruction) are registered. The requirement of form also became more lenient – the employer can register the instruction and the employee confirm it in a form reproducible in writing, such as by email.
Possibility to agree on a contractual penalty
In the past, employers did not have ways of influencing employees other than issuing warnings as provided for in the Employment Contracts Act, followed by termination of employment upon a second violation. But now, if an employee fails to comply with the requirements of the Occupational Health and Safety Act or violates these deliberately, causing a risk of an on-the-job accident or in the worst case, an actual accident, the employer can agree on a contractual penalty as a preventive measure as a way of disciplining the employee.
If a contractual penalty is agreed on, the restrictions in legislation still apply. For example, the penalty may not be greater than the employee’s average monthly salary and the employer must have provided instruction to the employee. Note also that the contractual penalty must apply both ways. Once an agreement on the contractual penalty is in place, the employee can also demand a contractual penalty from the employer if the company failed to provide supervision to the employee or furnish the employee with personal safety equipment.
The employer’s administrative burden is decreased
The amendments scrap the employer’s obligation to notify the Labour Inspectorate that the company is starting or changing the business activity. Because the relevant information is publicly available via the Commercial Register, there is no need or justified purpose to submit the same information again.
In addition, employers are not required to file reports to the Labour Inspectorate on every on-the-job accident but rather only if the accident results in temporary incapacity for work, severe bodily injury or the death of the employee. In case of death, the employer must also notify the police. Naturally, this does not mean an employer does not have to deal with investigating a less severe on-the-job accident – the goal of the investigation is ultimately to keep similar accidents from recurring in future – but there is no longer a formal obligation to file a report regarding such an on-the-job accident.
Increased fines
Fines have increased for violations of the Occupational Health and Safety Act and the Labour Inspectorate can now impose fines of up to 32,000 euros. The goal of the larger monetary punishments is to motivate employers to comply with the requirements of the Occupational Health and Safety Act.
Based on your company’s business activity, we advise reviewing to what extent legislative amendments affect your activities. If you have any questions, contact kristel.tiits@ee.gt.com.