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Last year, the international standards for small and medium-sized entities were updated. These standards also form the basis for Estonian accounting guidelines. Local rules will soon change as well. The most significant amendment relates to the accounting treatment of returned goods.

Companies’ credit agreements generally contain customer-specific conditions called covenants. December is the last chance to check whether the company is indeed in compliance with these covenants, especially considering how companies’ financial results have been impacted by the current ultra-rapid economic growth, rising prices and supply chain problems.

According to the registrar's statistics, 95% of companies registered in Estonia have chosen a financial year that runs from 1 January to 31 December. However, a company’s fiscal year should reflect the cycle of the company’s operating activity and year-end procedures should be conducted at a time when volumes of activity are lowest.

The future of accounting: where machine precision meets human wisdom. Automation and AI are reshaping accounting faster than ever. Yet human insight, judgment, and creativity remain essential. Discover how the partnership between people and technology is defining the next era of finance.

In this article, we’ll explore how attackers are misusing trusted technologies - like OAuth and DKIM (more on these in a moment) - and why everyone should be cautious when a message or application requests access to user accounts.

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.

On 26 February 2025, the European Commission (EC) released a new package of proposals (the Omnibus) to amend some key pillars of the European Green Deal. The overall goal of the Omnibus is to reduce reporting burdens, particularly for smaller and mid-sized entities, and increase efficiency in sustainability reporting.

The Estonian information security standard (E-ITS) is an Estonian-language standard compatible with the Estonian legal system and developed for ensuring protection for business processes and information systems used for fulfilling public functions.

The details of the defense tax that will take a bite out of corporate profits appear to be rife with inequality and unfairness, and a closer look reveals situations where taxes must be paid by those who haven’t turned an actual profit.

An overview of remote work developments in 15 countries before, during and after the Covid-19 pandemic.

Starting 1 January 2024, a global minimum tax obligation is in effect for large multinational enterprise groups with consolidated revenue of more than 750 million euros in European Union member states and many third countries (such as UK, Switzerland, Canada, Australia, Singapore etc.)

Those operating in the financial sector are bound by various laws along with requirements for internal audit arising from those laws. In addition, the Auditors Activities Act governs the provision of internal audit service, defining who is allowed to be engaged in the professional activities of an internal auditor.

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.

Anyone who has to consider any aspect of cybersecurity at their company has probably heard the sonorous sounding terms NIS 2, DORA, E-ITS or even ISO 27001.

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.

Business operators are hard-pressed to find an auditor to go over their annual report, since there are fewer and fewer auditors every year, but the amount of work just keeps on growing. The worsening quality of the work done by auditing companies is also a concern.