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Project highlights of PwC Estonia accountancy team

We maintain the day-to-day accounting for approximately 100 clients. This includes managing payroll and tax accounting, preparing reports for the statistics office and company boards to assist in financial decision-making, and preparing and submitting annual reports based on both Estonian GAAP and IFRS, ranging from micro-entity reports to consolidated annual reports for large enterprises.


In addition to day-to-day accounting, we have developed processes for one of our long-standing clients in the food industry that ensure timely submission of reports and reduce the client’s administrative burden. We have solved several challenges, including coordinating complex payroll processes across the Baltic region, ensuring the accuracy of holiday accruals, and optimising tax accounting. We have also implemented digital support, which accelerated data processing and reduced errors. Thanks to our collaboration, the client’s financial reports have become more transparent and reliable, enabling the management team to make quick and well-informed decisions.


We took over the management of the complex liquidation process for companies engaged in IT services database management and retail trade. We helped the company understand and resolve regulatory challenges related to the liquidation and successfully complete the process quickly and smoothly. Thanks to the practical expertise of our financial specialists, we helped reduce administrative costs and avoid further delays. This approach ensures efficient and legally compliant execution of liquidation processes.

 


We assist the Estonian subsidiary of an international accommodation service intermediary in preparing and submitting the annual report in accordance with the Estonian Financial Reporting Standard.

 


We provide accounting services to an international company that is establishing one of the largest algorithm-based data processing centres and operates in the field of trading various financial instruments. Our services include daily accounting, precise asset recording, and professional reporting, taking into account the specific characteristics of the Industry.


We carry out the payroll and tax accounting on a monthly basis for a company engaged in the marketing of international fertilizer sales. We prepare the company's annual report and assisted in completing the audit process.


We took over the accounting of a large international company creating innovative iGaming products and casino games. We helped the company rethink and streamline their accounting processes to support more efficient and transparent financial management and ensure clarity and accuracy in the company's consolidated financial reporting.


We assist global corporations in aligning the US GAAP- and IFRS-based reports of their Estonian subsidiaries with reporting based on the Estonian Accounting Standards (RTJ).


Our client portfolio includes several companies engaged in the development of wind and solar power plants and renewable energy production. We provide these companies with comprehensive accounting services, including project-based accounting, ensuring that even the most detailed and complex requirements for land and asset representation are correctly fulfilled. We advise clients on tax and financial accounting matters, including tax issues related to building rights and the application of asset financing accounting principles. Our services require knowledge of public funding conditions and related reporting, as well as interaction with the public sector.


We have cleaned up the previous accounting of a company involved in the programming and selling of innovative digital products. We have advised the client on issues related to the capitalization of intangible assets. We have developed an automated solution to retrieve international sales information from large-scale sales reports, and kept inventory records for goods sold on Amazon.


We straightened out the past accounting of several new clients, including correcting past tax returns where necessary, filing missing or incorrect reports, and assisting with audit procedures.


Many of our enterprise clients are active investors, including purchases and sales of securities both in Estonia and abroad, as well as lending through various interactive platforms. We provide them with a full accounting service, prepare annual reports and help them go through the audit process.


Our client portfolio includes companies that we advise on various start-up procedures after their establishment and assist them in preparing the necessary documentation. We also advise companies whose management consists of foreigners, introducing them to the legal requirements and obligations applicable in Estonia according to their field of activity.


We perform monthly complex salary and vacation reserve calculations for, and advise IT companies with 100+ employees.


An increasing number of companies in our client portfolio are from the field of information technology, which means that the resolution of issues related to software completeness level and cross-border taxation is required.


We handle the accounting and manage the tax accounting for one of Estonia's largest residential rental property companies. Additionally, we have undertaken accounting projects in other real estate sectors such as office and retail, which have also led to the preparation of annual financial statements based on IFRS.


We have managed the accounting for a company that conducts research and analyses for the European Commission, which requires specific expertise—detailed project accounting, compliance with public financing terms, resolution of complex VAT and income tax issues involving multiple countries, and extensive communication with the public sector.


In 2021, PwC was awarded the Quality Label for Recognised Accounting Firms. The Estonian Association of Accountants (ERK) highlights the best accounting firms with this quality label based on clearly comparable criteria, focusing on those who consistently emphasize high service standards. This mark signifies professionalism and reliability.


Year by year, the number of clients requiring audits has significantly increased. In addition to providing accounting services, we assist them in communication with various Big 4 auditors and help resolve issues that arise during the auditing process.


We have experience in providing accounting services and preparing financial reports for a company engaged in real estate management.


We provide accounting services and prepare financial reports for an international real estate fund in Estonia.

Contact us

Heleri Tinno

Heleri Tinno

Finance Leader, PwC Estonia

Tel: +372 614 1800

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