Daily Business: Civitta Audit Findings Raise Questions About LSM Finance Board Member
Estonian media and Dienas Bizness highlight problems in Civitta group's financial statements, where Inese Tanne, now a Latvian public media board member, served as finance director. The article voices doubts about her competence but acknowledges no direct fault has been proven.
Estonian journalist Kristjans Kurgs has investigated the consulting firm Civitta, whose financial statements for 2022–2025 drew serious criticism from its auditor. For 2022, the consolidated accounts of the parent company Civitta International OÜ received an adverse opinion, the strictest form of negative audit opinion and a rarity.
Delayed reports and merger
According to the publication, Civitta International failed to file financial statements for three consecutive years. Estonia's Commercial Register issued two warnings and imposed two fines. The reports for three years were submitted together in June. Auditors pointed to unreliable bookkeeping, with doubts over 2.5 million euros in revenue, 620 thousand euros in expenses and more than one million euros in liabilities.
In September 2025, Civitta International was liquidated by merging it with its subsidiary Civitta Eesti AS, renamed Civitta AS. Company representative Rivo Anton said everything is now in order and explained that the merger had been planned since 2023 to simplify the structure and cut costs.
The LSM connection
Inese Tanne, currently a board member for financial management at Latvian Public Media (LSM), was Civitta's finance director from 1 July 2023 to 31 December 2024. An internal document obtained by Dienas Bizness shows her duties included consolidating the official 2022 result. An anonymous source stressed that these facts do not by themselves prove her direct guilt but raise questions about competence. LSM's budget exceeds 50 million euros in 2025.
The author notes that Tanne's role in preparing the reports can be neither proven nor disproven, since she left the company before the reports were filed.
Rail Baltica
Civitta, together with law firm Triniti and agency Meta Advisory Group, initiated the Rail Baltica Business Network. The publication asks how strict quality control can be in a project involving such a company.
