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It’s often said that the only constant is change. The team at Grant Thornton Baltic knows this well – the work of accountants, auditors, and advisors is continuously evolving due to technological progress and ever-stricter regulatory requirements. But how can leaders manage change so that it truly bears fruit?

Whether the 2024 packaging report needs to be audited depends on whether the most recent audited packaging report was for 2020 or 2021.

This November, the Nasdaq Tallinn exchange’s alternative market First North started trading of the shares of the only Baltic pharmaceutical company J. Molner. Grant Thornton Baltic auditors had an important role in laying the groundwork for J. Molner’s market debut.

Grant Thornton Baltic was recently again able to contribute to a market debut for an Estonian company: our auditors conducted a financial audit of a producer of high-tech ventilation systems, Airobot Technologies, which as of 10 February is listed on Nasdaq First North.

Conversing with Tarmo Rahkama, his desire for challenges and excitement quickly becomes plain. He talks passionately about his career as a sworn auditor, doing packaging audits and being a track and field (athletics) umpire. The conservation also swings to the subject of the best recent theatre productions and tennis.

The member firms of Grant Thornton International Ltd (GTIL) have extensive expertise in the application of IFRS. GTIL, through its IFRS Team, develops general guidance that supports its member firms’ commitment to high quality, consistent application of IFRS and is therefore pleased to share our insights by publishing ‘IFRS Example Consolidated Financial Statements 2021’ (Example Financial Statements).

The Ministry of Environment recently weighed in on packaging audit requirements. This topic pertains in particular to packaging undertakings who have already filed a packaging report for 2020 with the packaging register.

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.

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.

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.

Who is an electricity undertaking? What requirements does the ELTS impose on electricity undertakings? Which undertakings should have their activities audited? What precisely is audited? In the following, we draw attention to bottlenecks related to the ELTS and auditing.

Although planning and goal-setting takes place both in the long term and monthly (or at least quarterly) basis, the question becomes an urgent one for management at a time when the next year’s goals and action plans have to be drawn up. Budgeting is very closely connected to strategic planning. Through this manner, accountants and financial analysts have a direct role in the organisation’s development.

Packaging companies to begin undergoing checks