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The going concern assumption means that a company is able to continue its normal business operations and meet its obligations when they fall due. In practice, this is not merely a disclosure in the financial statements but an everyday risk-management question for management: does the company have a realistic plan, sufficient cash flow, and access to financing even if the economic environment deteriorates?

New unique artificial intelligence–based assistants are now available to everyone on the Grant Thornton Baltic Estonia website. These tools help accountants, CFOs, auditors and other interested parties navigate the field of accounting more effectively.

Protecting company funds is not just an accounting or IT task – it is a direct responsibility of the management board

Year-end is the time when the management of every company must ensure that the company’s equity complies with the minimum net asset requirements set out in the Commercial Code.

Year-end means preparing financial statements, but many businesses overlook one critical aspect: whether the covenants of long-term loans are compliant with the indicators agreed with the bank as at the balance sheet date.

Companies are running out of time to start this year’s ESG report process – in fact, a business starting today might not make it in time. “That doesn’t mean they should just forgo submitting a report. It’s worth making the effort and getting at least half of it done,” said Grant Thornton Baltic partner and Head of Audit and Assurance Services Mart Nõmper.