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Error-strewn data in the Commercial Register
Audit Error-strewn data in the Commercial Register
Analysis of the correctness of data in the Commercial Register uncovered an astonishing fact: the Commercial Register data on auditors of companies contained many mistakes.
1 min read | 06 May 2021
Tarmo Rahkama Grant Thornton Baltic
Packaging audit Streamlining accounting and auditing of packaging reports
The accounting and preparation of packaging reports has become better over the years and the awareness of the importance of accounting more but there are still shortcomings in packaging reporting.
Tarmo Rahkama
Tarmo Rahkama
| 8 min read | 06 May 2021
The Estonian Auditors’ Association has made suggestions for development of the Commercial Register.
Assurance The Estonian Auditors’ Association has made suggestions for development of the Commercial Register.
The representatives of the board of the Auditors’ Association met Secretary General of the Ministry of Justice Tõnis Saar and Deputy Secretary General of the Ministry of Justice Viljar Peep in February on the topic of developing the Commercial Register and updating register data.
Mart Nõmper
Mart Nõmper
| 2 min read | 07 Apr 2021
Aivar Kangust: entrepreneurs could be less hesitant to ask for advice
Interview Aivar Kangust: entrepreneurs could be less hesitant to ask for advice
Grant Thornton Baltic’s audit partner Aivar Kangust, who has been a sworn auditor for almost 30 years, points out that while indeed an audit probably wouldn’t benefit a small business very much, directors of small businesses should really be more inclined to ask for advice from auditors and business consultants – no one can possibly know everything, but it’s always good to talk to someone who does know.
8 min read | 07 Apr 2021
Consolidation and Brexit
Consolidation Consolidation and Brexit
It will soon be time to prepare annual reports for the financial year 2020. Estonian companies with parent companies in the UK will have to take into account new rules.
16 Feb 2021
Annual reports – an unsung marketing method
Annual reports Annual reports – an unsung marketing method
An annual report can be a great calling card and the secret to doing business more successfully, even though Estonian business people aren’t all that active in submitting them. Last year was an exception: the deadline for submission of annual financial statements was postponed by several months and a larger number of the reports came in on time.
11 Feb 2021
Stockmarket Grant Thornton Baltic
Annual reports Listed companies get extension for complying with new requirement
Under a European Union directive, publicly listed companies must adopt the European Single Electronic Format, ESEF. But they will probably not have to file ESEF format annual reports for another year.
Mart Nõmper
Mart Nõmper
| 11 Feb 2021
Grant Thornton Baltic saade Kasvukursil Äripäeva raadios
Financial advisory Why determine the value of assets at a company and how to choose the right method?
After the year of the coronavirus, there is good reason to review the value of a company’s assets with particular care. Even more, because the value of some assets may instead have increased in these muddled times, as we heard on the Äripäev Radio programme ‘Kasvukursil’, on which Mart Nõmper, Sworn Auditor and Head of Audit and Assurance Services, and Mikk Mägi, Head of Financial Advisory at the pan-Baltic audit, outsourcing and advisory services provider Grant Thornton Baltic, discussed asset valuation.
10 Feb 2021
What is the difference between a good and a mediocre financial manager?
Advisory What is the difference between a good and a mediocre financial manager?
Mart Nõmper, Sworn Auditor and Head of Audit and Assurance Services, and Mikk Mägi, Head of Financial Advisory at the pan-Baltic audit, outsourcing and advisory services provider Grant Thornton Baltic, spoke about what distinguishes a good financial manager from a mediocre one on the Äripäev Radio programme ‘Kasvukursil’.
10 Feb 2021
IT-audit Grant Thornton Baltic
IT-audit IT audit – it may look like an expense, but in real life, it’s savings
Most companies view an IT audit as an expense, but experts say in reality, it helps companies to save money – especially if it’s conducted at the right time. An IT audit is a possibility to obtain an external view of the information system in current use.
12 Jan 2021
Tarmo Rahkama Grant Thornton Baltic
Packaging audit Streamlining accounting and auditing of packaging reports
The accounting and preparation of packaging reports has become better over the years and the awareness of the importance of accounting more comprehensive and precise but there are still shortcomings in packaging reporting. In some cases, the errors are specific and affect an individual company, but many are recurring. In this article, I list some of the standard errors we have noticed in companies’ reporting on packaging and I provide advice for avoiding these mistakes.
Tarmo Rahkama
Tarmo Rahkama
| 12 Jan 2021
Assurance and advisory services: Amserv Grupp AS
Case study Assurance and advisory services: Amserv Grupp AS
We performed the statutory financial audit for consolidation group of Amserv Grupp AS, which includes several companies in Estonia and Latvia.
Mart Nõmper
Mart Nõmper
| 22 Dec 2020
Tarmo Rahkama Grant Thornton Baltic
Our news Grant Thornton Baltic has new partners in Estonia and Lithuania
In autumn 2020, Grant Thornton Baltic expanded its circle of partners, giving two long-term employees in Estonia and two in Lithuania the opportunity to have a say at the highest level of the organization.
27 Nov 2020
Siseaudit teenus Grant Thornton Baltic
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 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.
27 May 2020
How will the new situation affect accounting and auditing?
Crisis management 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 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?
Mart Nõmper
Mart Nõmper
| 20 May 2020
How to account for the Unemployment Insurance Fund's temporary subsidy?
COVID-19 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 Standards Board Guideline (ASBG) 12, “Government Grants“. How to account for the Unemployment Insurance Fund's temporary subsidy? Grant Thornton Baltic sworn auditors Kristiine Villemi and Mart Nõmper explain the subject further.
Mart Nõmper
Mart Nõmper
| 13 May 2020
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