Accounting Audit in Estonia

AuditConducting a financial audit is a must for any company that wants to know where it stands and carry out its operations successfully. A company audit by a competent financial auditor will result in a time audit report that will help your company immensely. Information contained in the financial auditor’s report can help your company gain the confidence of investors, as well as increase its ratings and respectability. Additionally, the auditor’s report will also see to a more efficient use of your company’s resources.

It is important that you conduct an audit before pursuing invest in any new programs or projects or any of the following;

  • Making changes to your business ownership;
  • Opening a new company branch;
  • Opening a new company branch;
  • Tax audit;
  • Changing company leadership.

 

An annual audit is mandatory for Public Limited Companies.


For other types of companies, INTERNAL AUDITS are conducted as indicators of implementation and of the balance sheet total when

A company meets two of the following criteria:

  • There is a minimum number of 60 persons employed per company.
  • Yearly net sales stand a minimum of 4 000 000 EUR;
  • Assets are at a minimum of 2 000 000 EUR at the time of the balance sheet.

OR
A company meets one of the criteria:

  • There is an average number of 180 persons employed to the company.
  • Yearly sales (net) stand at 12 000 000 EUR minimum;
  • Asset are at a minimum of 6 000 000 EUR at the time of the balance sheet.


Cases where reviewing the AUDITS REVIEW is required, include
Meeting two of the following criteria:

  • There is an average number of 24 employees.
  • Yearly sales (net) stand at a minimum of 1 600 000 EUR;
  • Assets stand at 800 000 EUR at the time of balance sheet.

Meeting one of the following criteria:

  • There is an average number of 72 employees.
  • Yearly sales (net) stand at a minimum of 4 800 000 EUR;
  • Assets stand at 2 400 000 EUR at the time of balance sheet;


Generally, for a company audit in Estonia is an attractive option for companies. A finacial auditor in Estonia is usually an independent assessor registered on the Estonian auditors list. Auditors are expected to organise and conduct the accounting audit, as well keep confidential information learned private. Companies can also hire audit companies in Estonia to organise and conduct an audit on their behalf. Finbalt Consulting OÜ can help companies select an independent auditor to help carry out an accounting audit in Estonia.

 

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