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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!
Due diligence provides a detailed overview of the company. Due diligence is an important part of every purchase transaction, helping investors to take a closer look at all aspects of the company before the planned transaction. The information gathered during due diligence is also used in negotiations and helps to identify the risks to be hedged in the sales contract.
Due diligence is a thorough business, financial, tax and legal analysis of the acquired company. As a result of the analysis, we will prepare a report that provides a detailed overview of the audited company so that you can make an informed decision. This allows for a better understanding of the company's business model and key growth factors, the risks identified in the analysis and recommendations for dealing with them. The information gathered during due diligence will also be used in negotiations.
Read more about the due diligence.
The extent of due diligence depends on the transaction and the controlled entity, but may focus on, for example:
- Quality of earnings - validating management adjustments, considering findings in the due diligence and one-off items, and the impacts of accounting estimates;
- Historical trading results - analyzing growth drivers, top customers, revenue and margin development per client, segment or product and KPI’s relevant to the field;
- Analysis of net debt to identify potential debt-like items and the seasonality and requirements of working capital;
- Quality of financial and management reporting - commenting on the finance functions and controls, reporting and budgeting process etc.
TESTIMONIAL
Inspecta Estonia OÜ belongs to the international organization Kiwa, which ranks among the top twenty leading organizations in the world in the field of testing, technical inspection, and certification (TIC).
In 2023, we acquired the Estonian company Metrex Mõõtekeskus OÜ. The company specializes in the calibration and verification of measuring instruments, ensuring their operational functionality and proper usage. Metrex is one of the providers of weighing scale calibration and certification services. In the field of fuel tank calibration, Metrex holds a leading market position. With the addition of Metrex, our range of services at Kiwa has expanded.
The advisory team at Grant Thornton was engaged to conduct financial, legal, and tax-related due diligence, and the legal advisory team was involved in the process of signing the Share Purchase Agreement (SPA). Thanks to the professional and efficient work of the advisory team, we gained a comprehensive overview of Metrex Mõõtekeskus OÜ’s financial standing, operational strengths, market potential, and associated risks. The due diligence process contributed to negotiations regarding the terms of the purchase-sale transaction.
Tõnu Roosaar
CEO of Inspecta Estonia
Financial due diligence
Financial due diligence varies notably from a financial statement audit, as it analyses and explains the reasons and drivers behind the financial numbers and changes in business performance.
The scope of the due diligence depends on the company and we work together with you to put together a scope that will help you in achieving your goals.
A thorough due diligence will help you reduce risks, identify key matters for purchase agreement negotiations and post transaction integration of the target, and make sure there are no surprises at later stages.
TESTIMONIAL
Acton Capital Partners is a leading growth-stage Venture Capital Fund with over two decades of investment experience backed with a deep understanding of tech-enabled business models. Our mission is to support tech-enabled pioneers that create value for the long run.
In 2022, we invested in the Estonian start-up Qualitista (dba “Klaus”). The company operates a customer support quality assurance SaaS solution to track and improve customer service for SMBs and enterprises. In the investment process we engaged Grant Thornton’s advisory team to perform a financial and tax due diligence on Klaus. Considering the fast pace and nature of the start-up world, we appreciate that Grant Thornton’s specialists were able to deliver the report within the short timeline established by the parties involved.
It has been a great pleasure to work with Grant Thornton’s advisory team!
Benedikt Sudbrock
General Counsel
Acton Capital Partners GmbH
Testimonials
A selection of purchase, sale and M&A projects done by our advisors.May 2024
Providing consultation to Pro Optika in preparation for expansion
Financial, legal and tax advisory
Our specialists provided consultation to OptiPRO OÜ, which operates a retail chain of optometry stores under the brand Pro Optika and is acquiring the holding company of the Pere Optika chain, Optiland Eesti OÜ.
January 2024
We helped strengthen the cooperation between two large chemical companies
Tax, legal, accounting
In 2023, the German family company Bodo Möller Chemie bought the distribution rights of the brands Loctite, Teroson and Technomelt from Henkel and established a subsidiary.
September 2023
We advised the management of Kiwa
Financial, legal and tax advisory
We advised the management of Inspecta Estonia OÜ on the acquisition of Metrex Mõõtekeskus OÜ.
September 2023
We advised Sirowa on buying a competitor
Financial and legal advisory
International wholesaler of cosmetics, perfumes, salon products and non-prescription medicines Sirowa acquired well-known Estonian wholesaler of perfumery and beauty products.
December 2022
We advised OÜ Rannu Seeme in the transaction of the exit of a shareholder
Legal and Tax Advisory
Grant Thornton Baltic's transaction advisory team helped the client develop the conditions for the exit of the partner, including advising on the execution and formalization of the transaction.
November 2022
We advised a venture capital fund’s investment into the start-up Qualitista
Financial and tax advisory
In August 2022, Grant Thornton Baltic concluded a financial and tax due diligence for an Estonian start-up company Qualitista.
November 2022
We advised the importer of Audis on the sale of a stake
Tax and legal advisory
In the spring and summer of 2022, Fourings OÜ, which brings together companies engaged in the sale and maintenance of Audis in Estonia, sold a 50 percent stake to the investment company UG Investments.
October 2022
We advised a venture capital fund’s investment into the start-up
Tax and financial advisory
The Nordic venture capital fund Inventure invested 11.6 million euros in the Estonian startup Jobbatical in 2022.
January 2022
We advised German company RAUMEDIC
Legal, tax and financial advisory
We advised German company RAUMEDIC AG on the acquisition of aktsiaselts A&G.
December 2021
We advised Howden on entering the Estonian market
Legal, tax and financial advisory
Grant Thornton Baltic advised Howden Finland Oy, the market leader in Finland and part of the international group Howden Broking, on the acquisition.
January 2021
We advised BlackFin on its investment in financial start-ups
Financial advisory
In November 2020, Grant Thornton Baltic conducted a limited financial and tax due diligence for the start-up company Modularbank, which offers customer-focused financial services as a next-generation banking platform.
July 2019
Grant Thornton Baltic advised investors who acquired ISS Estonia
Tax and financial advisory
Grant Thornton Baltic advised investors on the acquisition of ISS Estonia's business.