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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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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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Information security management
We provide you with an information security management service that will optimise resources, give you an overview of the security situation and ensure compliance with the legislation and standards.
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Information security roadmap
We analyse your organisation to understand which standards or regulations apply to your activities, identify any gaps and make proposals to fix them.
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Internal audit of information security
Our specialists help detect and correct information security deficiencies by verifying an organization's compliance with legislation and standards.
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Third party management
Our specialists help reduce the risks associated with using services provided by third parties.
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Information security training
We offer various training and awareness building programmes to ensure that all parties are well aware of the information security requirements, their responsibilities when choosing a service provider and their potential risks.
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ESG advisory
We help solve issues related to the environment, social capital, employees, business model and good management practices.
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ESG audit
Our auditors review and certify sustainability reports in line with international standards.
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Sustainable investments
We help investors conduct analysis of companies they’re interested in, examining environmental topics, corporate social responsibility and good governance practices.
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Sustainable tax behaviour
Our international taxation specialists define the concept of sustainable tax behaviour and offer services for sustainable tax practices.
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ESG manager service
Your company doesn’t necessarily need an in-house ESG manager. This role can also be outsourced as a service.
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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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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!
Although salary isn’t unimportant if you want to attract talent, you need to offer opportunities for growth and think through the details of the recruitment process, using the services of an external expert if need be.
“Recruiters are in a situation where there are qualified candidates, but they aren’t accepting the offers. People think long and hard about whether to leave their existing job,” said Grant Thornton Baltic’s HR advisory manager Airi Neemre on the Äripäev radio broadcast, "Kasvukursil".
“In the past, employers offered a better salary and people made a move quickly but now they realize there are other benefits to expect employers to provide. Salary alone is not enough to hire anyone, although it is important to bear in mind that it is a limiting factor on the lower end. Specialists will weigh carefully whether the company looking to recruit them fits in with their own mission and whether they can grow as individuals there,” added Aldar Reinberk, the CEO of digital business support provider Acty.
Today there is a workforce shortage in the IT sector, and there’s also a deficit among recruiters. A recruiter’s salary may even be comparable to a programmer’s pay, the panellist said. “Having a recruiter is a strong competitive advantage for a company. Without one, it’s hard to bring aboard new people and replace those who leave. One can do one’s own recruiting based on gut feeling but the absence of methodical skills and systems for recruiting runs a very big risk when filling key positions,” said Reinberk.
Tailored service
Since finding persons with suitable profile and attracting them to leave their current employer requires a minimum of 50 to 60 hours, plus the time expended by the manager on interviews, recruitment service might be better outsourced to a partner. “A good recruiter realizes immediately whom to recruit on the market,” said Reinberk in talking about how external service provider can save time for a company. “We are looking for evidence as to whether the necessary skills have been acquired in their past work experience,” said Grant Thornton Baltic’s in-house recruiter Kätlin Treima on the value added generated by specialists.
For example, establishing a rapport with the candidate must play out in a manner that gets them wanting to respond. “Even if their answer is a no, they could find time to let us know what they think of the proposition. A lot of times when a company reaches out, there’s no reply,“ said Neemre. “There’s a big difference between whether you start talking about your company and your offer right away or start the conversation by recognizing the potential candidate for their accomplishments so far,” he said, sharing one tip for starting the dialogue.
External experts can also help foster a pleasant interview environment and shape sales arguments. If you’re trying to hire someone who is already employed, the sales arguments have to be very firmly in place,” emphasized Neemre. “In addition, we have to ensure that if a person comes in for the interview, there’s a pleasant atmosphere so they would not be nervous and also remember what we talked about after the interview. You have to foster a sense of security in the candidate.”
Your own contribution is also important
“Recruitment is very time-consuming, with 40-50 hours spent on organizing the selection process alone, but if you have to search for suitable candidates on the market and attract them to opt for your offered position, that involves working with data, and additional time spent on targeted communication with them”, the panellists said regarding costs on the recruiting process. Recruiting one candidate may cost 15,000 euros if outsourced, but Reinberk says it can be recouped in a few years with a good hire.
The company’s executive must still contribute to the process even when the service is outsourced. The description of the job and expectations for the candidate have to be carefully considered, only then it is possible to formulate the specific requirements for the candidate.
A manager looking for a subordinate should undoubtedly make an effort to keep the hiring process from becoming too protracted. Once the candidates have been identified, they should be interviewed as soon as possible. “A long recruitment process runs the risk of the candidate being snatched away by someone else. Job-seekers put high value on a speedy process, so managers have to devote their own time accordingly.”
After a successful recruitment, the focus must be on retaining people, and making sure they are not left alone. “A mentor or supervisor is important and, in general, team members also contribute to onboarding process. There has to be a supporting factor because the new person has to feel secure,“ said Treima. “You can’t just show the new employee to their desk and computer, and have them read the employment contract to find out what they are supposed to be doing.”
Also important: making sure that if anyone is leaving or being laid off, they receive support as well. “Those who stay with the company will take note and make their own future decisions accordingly. When an employment relationship ends, people have to be treated with respect and cordiality. They could be offered outplacement counselling and encouragement so that the person feels still valuable.”
If you have similar challenges and questions, please contact our specialists.