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Preparation of financial due diligence reports
Analysis of the target company's financial and economic information and preparation of a financial due diligence report to support an acquisition decision.
Financial analysis · Valuation · Expert opinions
Clarity in complex financial matters.
Financial expert Mihkel Tammaru provides independent financial analysis, business valuations and expert opinions for important decisions, transactions and financial disputes.
Independent perspective
Analysis based on facts and data
Clear outcome
A comprehensible and documented result
Confidentiality
Responsible handling of information
Services
Financial expert services for important business matters
MTCF Advisory specialises in financial management, financial due diligence, company and share valuation, corporate restructuring, insolvency analysis, financial loss assessment and accounting treatment reviews.
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Valuation of companies, shares and ownership interests
Valuation of companies, shares or ownership interests for a transaction, restructuring, dispute or another important decision.
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Identification of the causes and timing of corporate insolvency
Identification of the causes of corporate insolvency and determination of when insolvency occurred, based on documented financial information.
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Corporate restructuring advisory and plan assessment
Corporate restructuring advisory, including the preparation and assessment of restructuring plans and an independent expert opinion.
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Assessment of lost profits and financial loss
Analysis and substantiated assessment of lost profits and quantification of financial loss.
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Review of the accounting treatment of transactions
Review of the correct accounting treatment of transactions and identification of possible deficiencies or inconsistencies.
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Financial management services
Ongoing financial management support and temporary or part-time CFO services. The scope may include budgeting, cash-flow management, management reporting, financial analysis and financial input for management decisions.
Questions and answers
When is a financial expert needed?
Concise answers to common questions about business valuation, financial analysis and expert opinions.
- 01
When is a financial due diligence report needed?
- Financial due diligence is primarily used when preparing a company acquisition or investment decision. It helps assess the target's financial position, cash flows, profitability and transaction risks.
- 02
How are companies, shares and ownership interests valued?
- The method depends on the purpose of the valuation, the business and the information available. The analysis may consider cash flows, assets and comparable companies, with all material assumptions documented.
- 03
How are the causes and timing of corporate insolvency identified?
- The analysis considers financial statements, cash flows, the fulfilment of obligations, payment behaviour and other documented economic circumstances.
- 04
What does corporate restructuring advisory include?
- It includes assessing the company's financial position and restructuring options, analysing the assumptions behind a restructuring plan and, where required, preparing or independently assessing the plan.
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How are lost profits and financial loss assessed?
- The actual economic outcome is compared with a substantiated counterfactual scenario, taking account of causation, the relevant period, cash flows and key assumptions.
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What is reviewed when assessing accounting treatment?
- The review considers transaction documents, contractual terms, economic substance and applicable accounting principles to assess whether the transaction was recorded correctly.
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What do financial management services include?
- The service is tailored to the company's needs and may include budgeting, cash-flow management, management reporting, financial analysis and decision support. It can be provided as ongoing support or as a temporary or part-time CFO service.
Approach
A complex question.
A transparent process.
Every engagement begins by clarifying the objective and source information. This makes the analysis traceable and the result practical.
Scope
We clarify the question, scope of work, information to be used and the expected outcome.
Analysis
We review the materials, connect the financial information and assess the relevant circumstances.
Clear conclusions
We present substantiated findings and conclusions in a clear and documented form.
MTCF Advisory
M
A professional partner when details matter.
MTCF Advisory OÜ provides companies, owners, investors and other stakeholders with financial management, financial analysis, valuation and restructuring advisory services.
FocusRelevant circumstances and their economic impact
DeliverableClearly presented analysis and substantiated conclusions
CollaborationA precise scope agreed with the client
Expert
Mihkel Tammaru
Financial adviser and state-recognised financial expert
Nearly 30 years of experience in audit, financial management and advisory work in Estonia and internationally. The experience combines the perspective of an independent auditor, senior corporate financial management and the economic analysis of transactions.
MTCF Advisory OÜSworn auditor and financial adviser
Arkolat SIA, RigaManagement board member and CFO
Lemminkäinen Eesti ASManagement board member, CFO and procurator
Grant Thornton Rimess OÜFinancial adviser and auditor
PricewaterhouseCoopersSenior auditor in Tallinn and London
State-recognised financial expert
Since 2025
Sworn auditor experience
Sworn auditor from 2000 to 2023
Tallinn University of Technology
Accounting, academic programme equivalent to a master’s degree
Doctoral studies 2015–2019
Detecting financial reporting manipulation in big data using Benford’s law
Contact us
Briefly describe the question you would like us to help resolve.
After reviewing the initial information, we can specify the scope, timetable and fee for the engagement.
Contact details
- Phone
- +372 53 305 869