Audit of financial statements
Audit control is an integral part of each company’s control procedures required for gaining the trust of clients and partners as well as managing the company.
As an independent specialist, the auditor assesses if the financial statements prepared by the company’s management give a true and fair view of the company’s operations. Although the auditor’s opinion on the correctness of the financial statements is primarily used by information users outside the company, during the audit process we add value also to the company’s management. In the course of the audit, this additional value is mainly delivered in the form of the feedback, which highlights the deficiencies identified, proposals for their elimination as well as suggestions for enhancing the efficiency of the accounting system. We present the main findings as a written report.
During the control process, we identify the risk areas, which may cause significant reporting mistakes, and develop audit procedures for these areas. The focus on the important fields enables us to conduct the audit in a more efficient way. The main criteria for choosing an auditor are an auditor’s qualification, trustworthiness, availability and experience. We conduct the audit control procedures in accordance with the international audit standards.
TESTIMONIAL
Cooperation with Mati Nõmmist began in the nineties. Our first company Cargobus was successfully launched and SEBE was about to start. We decided to involve Mati Nõmmiste with his company Rimess in building business accounting and financial reporting and auditing business operations. Time has proved this and we look forward to further long-term cooperation.
Hugo Osula
Chairman of the Management Board of Mootor Grupp AS
Agreed upon procedures
The company’s management or owners may need to control some particular report rows (accounts receivable, net sales, etc.), financial reports (balance sheets, income statements) or accounting field (payroll accounting or other field). In this case, it is possible to agree upon the exact scope of work with the auditor, without ordering a full audit of the annual accounts. As a result of such procedures, the auditor presents a report with a summary of highlights identified.
Procedures prescribed by the Commercial Code
- special control
- opinion on non-monetary contributions’ value control
- opinion on the closing balance and assets’ division plan of a company under liquidation
- opinion on merger and division agreements.
Due diligence
Due diligence is a detailed analysis of business, financial and legal state of a company. As a summary of the analysis, a report is prepared, which provides a comprehensive view on the company.
Consultations and training related to financial accounting topics
We serve clients in Estonian, English and Russian, both orally and in writing.
Our competent auditors have provided services for 15 years. A Baltic’ partner is a managing auditor who is actively participating in the audit process and bears the full responsibility for its planning and conducting.
The services are rendered in co-operation with different departments (corporate finance, tax advisory, financial accounting), which allows offering the best integrated solutions to our clients.
Grant Thornton Baltic has developed significant regional competence in the Baltics and Scandinavian countries.
Grant Thornton Baltic attains ISO 27001:2022 certificate for Information Security Management System
In November 2023, Grant Thornton Baltic was certified with ISO 27001:2022 by Bureau Veritas, confirming that we identify, assess and manage security risks relating to information systems on an ongoing basis and in accordance with the requirements outlined.

Our auditors’ work receives top rating
Grant Thornton Baltic’s Estonian audit team received the best possible rating – green level – in the Auditing Activities Oversight Board’s (AJN) regular quality control inspection.
Grant Thornton Baltic’s partner and head of audit services Mart Nõmper said: “AJN’s recognition of Grant Thornton’s audit team is very important for us. In recent years, we have achieved fast growth in the audit sector and maintaining high quality during such periods is always a challenge. But we’ve managed it well!”
Testimonials
April 2022
Another start-up goes public, with an assist from Grant Thornton Baltic
Assurance
Grant Thornton Baltic made a contribution to Robus going public, conducting the audit of the company’s financial statements.
February 2022
Grant Thornton Baltic provides support for Airobot’s public market debut
Assurance
Grant Thornton Baltic's auditors conducted a financial audit of a producer of high-tech ventilation systems, Airobot Technologies.
January 2022
Grant Thornton Baltic helps Hepsor to make its stock market debut
Assurance
Grant Thornton Baltic’s team of more than 10 internal and external specialists audited the IFRS based financial reporting set out in the company’s listing prospectus.
January 2022
Good work gets deserved recognition
Assuarance and advisory services
The auditors of Grant Thornton Baltic audited the 2020 IFRS annual report of the public interest entity UPP Olaines OÜ consolidation group.
December 2020
Amserv Grupp AS
Assurance and advisory services
We performed the statutory financial audit for consolidation group of Amserv Grupp AS, which includes several companies in Estonia and Latvia.
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