Limited review of financial statements for Estonian companies — a faster and lighter alternative to audit. Provides legal compliance and independent assurance where required by law or requested by stakeholders.
upon request
Description
In Estonia, some companies are required to undergo a financial statement review instead of a full audit. This service provides limited assurance — confirming that your financials are generally accurate and comply with Estonian standards.
Reviews are typically required when a company exceeds certain financial thresholds, but many clients also choose them voluntarily to improve transparency or meet investor expectations.
Compared to an audit, a review is faster, less intrusive, and more cost-effective — but still provides an independent professional opinion. We follow ISRE 2400 and adapt the process to your company’s size, documents, and goals.
Our team will guide you through each step, explain any findings, and help ensure your financial reports meet all legal and reporting standards in Estonia.
What’s Included
- Review of Financial Statements
Limited-scope analysis of your balance sheet, income statement, and (where applicable) cash flow statement — to ensure they reflect your company’s financial position in a clear and reasonable way.
- Compliance and Consistency Check
We assess whether the financial statements follow Estonian accounting standards (RTJ or IFRS) and whether figures are consistent, complete, and based on verifiable documentation.
Review Report (ISRE 2400)
You receive a formal review report confirming that your financial statements are free of material misstatements — based on our limited assurance procedures.
- Actionable Feedback
If we find gaps or inconsistencies, we explain their nature and suggest how they can be corrected or clarified — before the report is finalized or submitted.
We provide the service in Estonian, Russian, or English, depending on your preference.
Reports can also be issued in bilingual format if required.
Timing
The standard preparation time for a review is up to 1 month from the date we receive all required documents.
By law, the review report must be submitted to the e-Business Register no later than 6 months after the end of the company’s financial year.
The exact timeline depends on the volume and clarity of your records. After an initial review of your documentation, we confirm a detailed schedule and guide you through the next steps.
Who is required to undergo a Review?
A review is mandatory if your company exceeds two out of three legal thresholds:
– Annual revenue over €2,000,000
– Total assets over €1,000,000
– Average number of employees 24 or more
Voluntary Review
Even if not legally required, a review can strengthen credibility, improve financial transparency, and support communication with banks, investors, or grant providers.
What documents are needed?
In most cases we request:
– Trial balance and general ledger
– Accounts payables and receivables
– Bank statements and cash records
– Key contracts and supporting documents
– Confirmation letters from banks, debtors, or creditors (where applicable)
We adapt the document list to your situation and guide you through each step. With complete and accurate records, the audit process is smoother and more efficient.
Questions?
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