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When outsourcing accounting services, you can be sure that the work won't be left undone in case the accountant falls ill or goes on vacation.

This International Women’s Day, we shine the spotlight on our newest female leaders—this season, Grant Thornton Baltic’s Estonian office welcomed three new women partners. How did Gaily Kuusik, Terje Liiv, and Anni Vaiksaar reach senior management, and what unique values do they believe women can bring to leadership?

This fall, a record of six new partners joined Grant Thornton Baltic. Four of them are from our Estonian company and one each from Latvia and Lithuania. Now we have a total of 21 partners.

Grant Thornton pays great attention to training managers, and Kristel Tiits (Head of Legal) and I had the opportunity to participate in Grant Thornton International's year-long management training program, where one session took us to Vietnam.

Pursuant to amendments that entered into force last year, the Commercial Register can fine or compulsorily dissolve those who are late filing an annual report. Compulsory dissolution can be done if the company lacks registered assets (i.e. no assets evident in the land register, ship register, Commercial Register or Estonian securities register), is not a party to any current judicial proceedings, criminal enforcement proceedings or tax disputes.

E-invoices celebrate their first minor anniversary – submitting invoices to the public sector in this format has been obligatory for five years, while technical support for e-invoicing has existed on the market for more than 10 years. But the hope that the private sector would organically embrace the state’s role model has not come to fruition.

A high-quality accountant who uses modern technological solutions – up to and including AI – can do more for a company than ever before. An accountant can be closer to a CFO’s skillsets than a data entry role.

For years, the Commercial Register allowed companies to operate in the Estonian business environment as if disclosure of economic figures was optional. Last year, an abrupt change in direction occurred.

More and more Estonian companies prefer to outsource payroll functions rather than have a staff position. The reason is that it’s a time-consuming job and requires use of the latest software and keeping up to date with frequent changes to legislation.

Gaily Kuusik, Grant Thornton Baltic's Head of Business Process Solutions, gives an overview of topics related to the accounting market.

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 Bodo Möller Chemie Baltics OÜ to deal with the resale of Henkel's adhesives and sealants in the Baltics. The founding of the subsidiary was advised by Grant Thornton Baltic.

Estonia has about 150,000 businesses engaged in economic activity – that means each one of them ought to have accounting software or some other way of keeping accounts.

Gaily Kuusik, head of Grant Thornton Baltic's business process solutions, gives an overview of the legislative amendments that have already come into effect or will soon come into effect.

The current head of Grant Thornton Estonia’s business process solutions, Gaily Kuusik has crossed paths with the company several times, in two decades and two different jobs. As a young tax specialist at the start of this millennium, she came to work for the company soon after university, but she joined Grant Thornton again in 2021, now much more experienced, as the head of customer relations.

In November 2023, Grant Thornton Baltic was certified with ISO 27001:2022 by Bureau Veritas, confirming that we identify, assess and manage security risks relating to information systems on an ongoing basis and in accordance with the requirements outlined.

At Grant Thornton Baltic, we offer payroll as one of the accounting services and it can be described with just those above notions: automated, meticulous, accurate, confidential and adaptive to changes.