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This summer, the state suspended its payments to the second pension pillar of working people. During October, however, people will be able to decide whether or not to continue paying 2% of their gross salary to the pension fund. Kaia Salu, Group Manager of Grant Thornton Baltic's Outsourcing department, opens the subject in her article.

Every entrepreneur, as well as an individual, can be involved in money laundering, even without knowing or realizing it themselves, according to Äripäev's radio program "Kasvukursil". Read about hot topics in money laundering.

Experience has shown that not all creditors analyze the creditworthiness of consumers as they should, control activities sometimes remain superficial and therefore do not serve the purpose – ensuring that the borrower is able to repay the loan under the terms agreed. Merili Kiipus, Grant Thornton Baltic's Business Risk Analyst investigates further.

In a crisis, the internal control system must remain a priority. In order not to find yourself fighting the consequences of corruption and fraud after a crisis situation, it is worth knowing what the company's so-called Three Lines of Defense are. Read more from the article by Tuulikki Uluots, Grant Thornton Baltic's adviser of business risk services.

COVID-19 led to a crisis that has accelerated the changes that were actually taking place even before the so – called era of social distancing. Those with the automation and digital sales channel in the DNA of their business model are emerging stronger from the crisis than before. Among others, the race for the rest of the market is likely to begin. Read more about the topic in an article by Grant Thornton Baltic's Legal and Financial Manager Marko Rebane.

Amendments to the Labour Market Services and Benefits Act (hereinafter LMSBA) and the Unemployment Insurance Act create the possibility of temporary employment, in other words, accepting temporary job offers during registered unemployment, plus unemployment allowance and unemployment insurance benefit increase. Grant Thornton Baltic's legal manager Kristel Tiits and legal adviser Lee Laanemäe explain the details in their article.

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 from adapting to it, according to Äripäev’s radio program “Kasvukursil”. Grant Thornton Baltic's HR manager Marge Litvinova, IT-manager Arko Kurg and Partner of digital services Vladimir Rüntü discuss the plusses and minuses and possibilites and threats of working in different places such as the office, home offive or office abroad.

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 incentive to take the uncomfortable journey and start collecting bad debt. It may often seem that the only effective way to satisfy claims is to take legal action, but before filing a statement of claim you should consider other and less costly options. Grant Thornton Baltic's legal adviser Edward Otsa opens the subject further.

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 would enable a more effective response to violations of financial services, competition and data protection regulation in the future. Grant Thornton Baltic data protection officer Maili Torma and legal adviser Lee Laanemäe write about the potential changes awaiting us in the near future.

In Estonia the state is placing increasing emphasis on money laundering prevention. Therefore, companies with a duty to prevent money laundering must be prepared for more thorough and more frequent inspections to determine whether they comply with all the rules laid down by law. Read more from the article written by Grant Thornton Baltic's Senior Internal Auditor Kai Paalberg.

For many companies and institutions, internal audit is a legal obligation that cannot be waived even in difficult economic times. Therefore, the question inevitably arises as to how this obligation is most favorable and reasonable based on the needs of the company - hire your own internal auditor or outsource? Read the article! Grant Thornton Baltic's business risk services adviser Riin Veidenberg will help you with the decision.

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 the equity and the taxpayer can provide evidence of the equity contribution (regardless of whether or not the contribution has been declared). Read more from the article written by Grant Thornton Baltic's Senior Tax Manager Sander Adamson.

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 them intentionally? How much help can the injured party expect from the insurer? You'll find an answer to these questions in a article written by Grant Thornton Baltic partner Mart Nõmper and legal adviser Lee Laanemäe.

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 business or expanding it, entering the market with new services or products and raising capital from investors or lenders to execute your strategies. Grant Thornton Baltic financial advisers Mikk Mägi and Raili Ilves write about the importance of business plan and what are the key points in the plan.

Auditors, accountants and other white-collar workers have recently been working mainly from home offices. We can expect that more and more audits and accounting procedures will be done without actually meeting face to face. Grant Thornton Baltic partner and sworn auditor Mart Nõmper discusses in his article how has this new work organization affected us and what is to be expected in the near future?

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 the time of emergency situation due to coronavirus and two months thereafter. Aet Sallaste, head of legal services in Grant Thornton Baltic explains who are concerned by the amendment of the Bankruptcy Act.