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Remote work A five-year leap in two months: remote work as a new norm
Remote work due to the coronavirus in companies is becoming a new positive trend, which is difficult to reverse, but both companies and employees will benefit
Collecting debts during the crisis
Businesses in various sectors do not have a positive outlook for their turnover forecasts due to the corona crisis. As a result, they may have an extra
Administrative fine Prosecuting offenders will be easier and the penalties will be bigger in the future
A new concept in Estonian legal system, administrative fine, was sent to coordination round to the relevant ministries by the Ministry of Justice. The new fine
Business risk services The activities of companies in preventing money laundering are being scrutinized
In Estonia the state is placing increasing emphasis on money laundering prevention. Therefore, companies with a duty to prevent money laundering must be
Distributing non-declared equity contributions are not automatically subject to income tax
The Supreme Court thus finds that a disbursement made from equity capital is not subject to income tax, if the disbursement does not exceed the contribution to
Business risk services Internal auditor: in-house or service provider?
For many companies and institutions, internal audit is a legal obligation that cannot be waived even in difficult economic times. Therefore, the question
Data protection services Maili Torma, a data protection specialist at Grant Thornton Baltic, received the ISO27001 lead auditor certificate.
Maili Torma, the data protection specialist at Grant Thornton Baltic and the founder and board member of the Estonian Data Protection Association, was recently
Business risk services Our experience: the main shortcomings in preventing money laundering
The experience of Grant Thornton Baltic's risk management advisors in conducting money laundering and terrorism financing prevention audits, especially in
Assurance services Auditor’s liability and insurance
What happens if the auditor makes a mistake? Which is the auditor’s liability in case when the auditor does not notice discrepancies in the report or hides
Business plan as the backbone of the company
There are different reasons for drawing up a business plan and the target groups can vary as well. Detailed business plans are compiled when starting a
The debtors are not obliged to submit bankruptcy petitions in the coming months
The amendment of Bankruptcy Act entered into force, where the commencement of the term of the obligation to submit bankruptcy petition shall be suspended for
How will the new situation affect accounting and auditing?
Auditors, accountants and other white-collar workers have recently been working mainly from home offices. We can expect that more and more audits and
Paternity leave New paternity leave system comes into effect from 1 July
The state is changing the parental leave and benefits system once again and starting from the 1st of July 2020, the paternity leave will increase from 10 to 30
Remote authentication – a possibility to carry out a notarial transaction from home
On February 1st 2020, remote authentication was introduced for notarial transactions, which is equivalent to ordinary notarial authentication, i.e.
How to account for the Unemployment Insurance Fund's temporary subsidy?
The Accounting Standards Board has ruled that subsidy paid by the Unemployment Insurance Fund should be recognised as government grant as treated in Accounting
Crisis management How to use a crisis situation to improve risk management?
In a crisis, companies need to be able to respond quickly to change and to meet the needs of their employees, customers and partners, while managing the
Crisis management Entrepreneur's plan B: re-establishing business through reorganization
Reorganization is being used to help a company that has temporarily become insolvent, for example due to the current pandemic and crisis. It is important to
The minimum nominal value of a share in private limited company shall become one cent
From the 1st of July 2020 the changes of the commercial code state, that the minimum nominal value of a share is one cent instead of one euro, with the result