Many new services assurance services are performed in accordance with statements on:

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.

Inhaltsverzeichnis Show

Agreed upon procedures
Procedures prescribed by the Commercial Code
Due diligence
Consultations and training related to financial accounting topics
Assurance services:
Why Grant Thornton?
What are the three levels of assurance services?
What is the most common assurance service?
What are assurance services?
Which of the following is always present in an assurance engagement?

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.

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.

Send us your inquiry

External assurance is key for management as well as shareholders and other external stakeholders such as banks and governmental organizations to ensure that the financial or non-financial information presented by the company is complete, accurate and reliable. Our teams can provide you with assurance services that deliver real value and support investor confidence. We have the size, scope, breadth, depth and global reach to serve dynamic organizations around the world. We coordinate, cooperate and communicate based on our shared global strategy, which ultimately leads to greater consistency and better quality.

We perform high quality audits in accordance with International Standards on Auditing that give you the required assurance on the financial information you use. We use a global audit methodology and global tools to perform our audits as efficiently and effectively as possible. Examples include our global audit program LEAP and the latest data analytics software. Our teams use secure cloud services to communicate and share documents safely and effectively with you during the audit process.

We pride ourselves in not only providing you the requested assurance level, we also aim to provide you meaningful feedback on our observations throughout the assurance process. We do this formally through management letters and board reports, and also informally during our many discussions with you and your team.

Assurance services:

Our teams can provide you with innovative assurance services in:

financial statement audits
financial statement compilations
financial statement reviews
IFRS conversions
reporting on controls at service organizations

We guarantee excellent service, quality audits and special attention to our client-relationship. We are confident that we can support your vision through our competences. To help you increase your operational excellence we have the expertise in-house to provide guidance on increasing the quality of your business processes and the quality of your financial reporting and planning & control process.

Our range of other assurance services include for example:

Systems & process assurance
IT, processes and controls
Continuous improvement
Process and revenue assurance
Third party assurance SSAE16
Internal control optimization
Internal audit services
ERP security and controls
IT governance
IT security
Data assurance
Project and implementation assurance
Regulatory compliance services

Why Grant Thornton?

We have the size, scope, breadth, depth and global reach to serve dynamic organisations around the world. Our teams can provide you with assurance services that deliver real value and support investor confidence.

We coordinate, cooperate and communicate based on our shared global strategy, which ultimately leads to greater consistency and better quality.

Audit quality monitoring
Global audit technology

What are the three levels of assurance services?

In order of increasing level of rigor, accountants generally offer three types of assurance services: compilations, reviews and audits.

What is the most common assurance service?

The most common assurance service is the review of financial statements for accounting departments. Auditing firms provide assurance services for analyzing financial systems as well as procedures in other areas of business like internal controls or IT systems.

What are assurance services?

Assurance services (as defined by the AICPA) is an independent professional service, typically provided by Certified Public Accountants, with the goal of improving the information or the context of the information so that decision makers can make more informed, and presumably better decisions.

Which of the following is always present in an assurance engagement?

The five elements of an assurance engagement The elements are: the three-party relationship; appropriate subject matter; suitable criteria; appropriate evidence; and a conclusion.