For Grant Thornton Baltic OÜ, the 2021/2022 season in Estonia was very successful - our turnover increased by 24% compared to the previous financial year. The impressive growth took us to the second place in the ranking of auditing companies compiled by business newspaper Äripäev.
In the 2021/2022 financial year, Grant Thornton Baltic's turnover in Estonia was 6 million euros, one third of which was accounted for by audit services. The company's pre-tax profit was 977,318 euros.
Mart Nõmper, Partner and Head of Audit at Grant Thornton Baltic, stated that the audit field is doing very well, and the fact that Grant Thornton Baltic has been able to find new market niches has played a role in the growth. "We have started auditing the financial statements of companies aspiring to the stock exchange. The first company was the real estate developer Hepsor, which decided to list its shares on the main list of the Tallinn Stock Exchange and entrusted the auditing of its reports to Grant Thornton Baltic. Hepsor's successful stock market debut in November 2021 draw positive attention to us and helped us find the next similar clients," described Mart Nõmper.
However, the conquest of new market niches is not limited to this. "In addition to auditing financial statements, it will soon be necessary to audit companies' social sustainability and environmental reports as well. Brand new sector is crypto companies, whose obligation to audit financial statements was stipulated by law in 2022. So, the field of audit is flourishing," confirmed Mart Nõmper.
In order to serve existing and future clients, the audit department has hired more employees, so that compared to three years ago, the number of employees has doubled. Despite the fact that both the volume of work and the number of employees have recovered well, this has not reduced the satisfaction of clients and employees, which can sometimes inevitably happen during rapid growth. In September of this year, a commitment survey of Grant Thornton Baltic employees was conducted, according to which the recommendation index eNPS was 64% - this is the best result in history. The client satisfaction index is also the highest ever - nine out of ten customers recommend Grant Thornton Baltic to others and, of course, want to continue the cooperation.
"Growth has been possible thanks to our very good and dedicated employees. This, in turn, has led to client satisfaction, and satisfied clients again recommend us to their friends. So, I don't see any reason why the same growth in audit could not continue," said Mart Nõmper.
For many years, Grant Thornton Baltic has also focused on the development of auditing activities in Estonia, so that the auditors' work would be even more efficient and transparent. To this end, we have actively participated in the work of the Audit Board. Grant Thornton Baltic’s Managing Partner and Sworn Auditor Mati Nõmmiste has been a leader of the Auditor's Association founded in 1999 in the role of board member, president and vice president. In 2019, when Nõmmiste left the board, Mart Nõmper was elected to the board. He continues to work in the Board after the 2022 elections, when the members of the board elected Nõmper as the vice president of the Board of Auditors in August 2022. In addition, the sworn auditors of Grant Thornton Baltic have made their contribution in the committees and working groups of the board of auditors, for example, the sworn auditor Janno Greenbaum, as a member of the methodology committee, has stood up for the development of audit methodology.