Statutory Audit Compliance

Sector: Production · Type: Capital Raising · Status: Completed · Two Engagements

The challenge.  Growth can create compliance obligations that catch companies off guard. After a period of successive business operations, this client crossed the statutory thresholds for taxable turnover and number of employees in Estonia — making statutory audit mandatory and immediate. The existing bookkeeping and systems were not in a condition to meet audit requirements.

What Equiton did.  Equiton reviewed the company’s accounting records and processes in full, identified the gaps between the existing setup and the standard required for a statutory audit, and restructured the bookkeeping and related systems accordingly. The work was carried out under time pressure to meet the audit timeline.

The result.  The client passed the statutory audit and has maintained compliance in subsequent years. What could have been a disruptive regulatory problem became a managed transition.