Liis Aaviku shares her 15 years of experience at Grant Thornton Baltic and explains why an accounting service firm offers rapid development, diverse projects, and strong team support.

Last year, the international standards for small and medium-sized entities were updated. These standards also form the basis for Estonian accounting guidelines. Local rules will soon change as well. The most significant amendment relates to the accounting treatment of returned goods.

On 13 February, amendments to the Employment Contracts Act entered into force, opening the door to more flexible work organisation and providing employees and employers with an innovative opportunity to conclude flexible working time agreements.

When the payroll process exists only in one person’s head, it creates significant continuity, error and control risks. A documented and transparent process ensures security, efficiency and reduces dependency on individuals. In this article, we explain why mapping and documenting payroll processes is critically important.