Insights

This year, UAB Raimda auditas celebrated its 10th anniversary. The year 2020 - also the year of commemorating the personal achievements of the company’s director Daiva Žumbakienė - in November 2010 Daiva became a member of ACCA (Association of Chartered Certified Accountants).

As we reach this milestone, it is good to reflect on how far we have come.

• Our company provides the following services:

1. Audit and audit-related matters;
2. Accounting;
3. Tax consultating, consultating on accounting, legal issues;
4. Training services on various topics;
5. Consultations on IFRS (International Financial Reporting Standards) issues, as well as helping companies to transition from Lithuanian BAS (Business Accounting Standards) to IFRS. The number of companies applying for this issue is growing every year and is likely to continue to increase. Businesses are expanding and operating not only in Lithuania, but also abroad, so it is important for business owners to compare balance sheets according to a unified system - International Financial Reporting Standards.

• Customer activities by sector cover a wide range, namely: trade, manufacturing, military, energy, healthcare, education, agriculture, etc.
• The company’s working methods and activities are always focused on questions that are relevant to customers - we do our best to find all the answers. No matter what kind of questions and / or problems arise - be it tax law, employment law or contract law - we always try to provide solid answers, relying on formal written answers from the various institutions involved.
• We provide inquiries to STI (State Tax Inspectorate), SLI (State Labour Inspectorate), SODRA (The State Social Insurance Fund Board), the Ministry of Finance and many other ministries and institutions.
• The greatest professional joy is provided by rare, unprecedented cases when the state institutions providing answers conclude: <... we have not had such a case in our practice ... because there are no analogues in Lithuanian law ...>. These rarer cases are related to the treatment of VAT (Value Added Tax) and PIT (Personal Income Tax). The analysis of double taxation treaties requires a lot of intense thinking, as it is very difficult to comprehend them correctly.
• We submit at least 50 different inquiries to the above institutions during a calendar year. During the conversation with the management of one of the institutions, we had to receive a comment on the number of inquiries provided by UAB Raimda auditas: <... Dear Žumbakiene, could you not write us inquiries so often? ...>. Such remarks, although somewhat comical, show the intense interest of our company in the law and its application, and our aim of gathering all possible information in order for the customer to find an answer to his question. 
• The system of taxes - both supervised by the STI and Sodra - labor law and other legal acts applicable to all taxpayers (natural and legal persons, foreign companies that are taxpayers in Lithuania) is not complicated when the situation is specific and clear. However, in the case of vice versa - when there is the slightest uncertainty - there are several options for solving the problem or the solution is unclear and ambiguous. It is in such cases that we feel a special obligation to contact the relevant authorities and work together to find the most specific answer possible, with detailed explanations.
• The number of employees in the company has increased from one to six in 10 years. For a small company that only provides services, this is a solid number, especially since all employees work under employment contracts and not with individual activity certificates or business licenses. By the way, employee turnover in the company is almost zero. The company’s employees are very curious, characterized by accuracy, diligence, and strive to be professionals in their field.
• Daiva Žumbakienė, who has been a member of the prestigious organization ACCA for 10 years, as well as a graduate of Oxford Brookes University, a member of the Lithuanian Chamber of Auditors and a member of the Presidium, a member of the Lithuanian Association of Accountants, a member of AE (Accountancy Europe) IFRS 9 (International Financial Reporting Standard, 9 Financial Instruments) working group, always cares first about knowledge. Daiva’s credo - Scientia Potestas Est. The pursuit of knowledge is not only an interest in the latest professional and public information, but also an attempt to share this knowledge with others - through Daiva’s own publications, press interviews and participation in gatherings organized by professional communities in Lithuania and abroad.
• ACCA membership is very binding. Daiva Žumbakienė renews her ACCA Practicing Certificate every year. ACCA is an organization that cannot be ignored. The impression is the size of the scale of the association’s activities, website - both internal and accessible to all, the number of functions performed, the sharing of the latest professional information.

UAB Raimda auditas has been using its trademark for a decade and currently intends to apply for patenting this trademark. As the circle of clients expands and the company’s team raises an ever-increasing quality bar every year, the implementation of ISO quality management standards is seriously considered.

UAB Raimda auditas maintains the image of a company providing reliable and high-quality services - almost all clients turn to the company with recommendations. Business partners are always the focus of the company. They are taken care of not only by competent employees, but also by employees who are satisfied with their work. For many years, the company’s management has been striving to make it convenient and enjoyable for employees to work - they can work remotely, they are given the opportunity to work with a flexible work schedule. Such rights have been granted to employees since the beginning of the company’s establishment

Ten years for the company - both a lot and a little. Much because the company has assembled a competent team, maintains strong relationships with existing customers and receives an increasing number of new customers every year. On the other hand, the decade for UAB Raimda auditas is just the beginning: the gradual development of the company and the desire to improve in the professional field allows to grow expectations every year and not stop to strive for higher results.