Resources Archives

Hot Topics for 2019 Internal Audit Plan

Kyriacos.soc2018-09-27T11:25:50+03:0027/09/2018|Internal Audit, Resources|

Hot topics for internal auditors: the 2019 report from the IIA Risk in Focus puts a spotlight on priority risk areas that organisations face as they look ahead to next year. It reveals how heads of internal audit across Europe view today’s risk landscape. Key findings Download the complete report The single biggest risks that chief audit executives believe their organisation faces as they prepare their audit plans for 2019 are cyber security, compliance, [...]

Cyprus Provisional Tax / 1st Self-Assessments Form

Kyriacos.soc2021-06-14T11:44:20+03:0019/07/2018|Resources, Tax Updates|

Profit Extraction Form

Kyriacos.soc2018-07-19T12:56:08+03:0018/07/2018|Resources, Tax Updates|

The main (and most commonly used) routes for business owners to extract profits from their companies are through salary or dividends payments. Use our Profit Extraction Form to assist determine your ideal profit extraction strategy. The key determination on the method used is the benefit to the owner in terms of the net amount remaining to be distributed after the payment of all applicable taxes including income tax, corporation tax, special defence and [...]

Internal Audit and GDPR

Kyriacos.soc2018-04-13T13:06:04+03:0013/04/2018|Internal Audit, Resources|

The General Data Protection Regulation (GDPR) has been on many organisations’ corporate minds, and rightly so, for some time. However, with the regulation coming into force on 25 May 2018, awareness must now become action – and internal audit should be involved at all levels, to help management better understand and mitigate the related risks. From DPA to GDPR The European Parliament passed GDPR on 27 April 2016 through European Directive 2016/679 ‘on [...]

Internal Audit in the age of Disruption

Kyriacos.soc2018-02-21T10:51:00+02:0020/02/2018|Internal Audit, Resources|

A great report highlighting disruption as a great challenge for internal audit executives ("IAE") today. To achieve an effective internal audit function, it is vital for IAE to recognise what’s coming and providing insight to the organization on how to harness that disruptive power.Although, this should be nothing new for internal audit, there are many cases in todays world that IAE take a more conformance approach , instead of taking a more proactive [...]

Risk Based Internal Auditing

Kyriacos.soc2018-02-20T18:19:05+02:0014/12/2017|Internal Audit, Resources|

Risk Based Internal Auditing as defined by the Charted Institute of Internal AuditorsBackgroundOver the last few years, the need to manage risks has become recognised as an essential part of good corporate governance practice. This has put organisations under increasing pressure to identify all the business risks they face and to explain how they manage them.In fact, the activities involved in managing risks have been recognised as playing a central and essential role [...]

Hot Topics for 2018 Internal Audit Plan

Kyriacos.soc2018-02-20T18:20:13+02:0023/10/2017|Internal Audit, Resources|

European Report: Risk in Focus Hot Topics for Internal Audit 2018Risks are undoubtedly changing for all organisation, with each organisation having its own risk appetite. Irrespective of how rigid or fixed audit plans are, these are subject to change as new risks emerge at the operational, strategic and wider environmental level. Six European IIA affiliates have jointly prepared and published the "Hot Topics for Internal Audit 2018" report which explores key themes requiring the attention [...]

Cyber security and information risk guidance for Audit Committees

Kyriacos.soc2018-02-20T18:20:34+02:0016/10/2017|Internal Audit, Resources|

"Cyber security is the activity required to protect an organisation’s computers, networks, programmes and data from unintended or unauthorised access, change or destruction via the internet or other communications systems or technologies. Effective cyber security relies on people and management processes, as well as technical controls.Government guidance makes it clear that cyber security is now an area of management activity that audit committees should scrutinise. Together with the rapidly changing nature of the [...]

Guidance on Effective Internal Audit in the Financial Services Sector

Kyriacos.soc2018-02-20T18:21:03+02:0016/10/2017|Internal Audit, Resources|

"Since its publication in July 2013, the Chartered Institute’s Guidance on Effective Internal Audit in Financial Services (which has become known as ‘the Code’) has played an important part in raising expectations of internal audit in UK nancial services organisations, and in promoting good practice.The revised text contained in this second edition re ects the recommendations of the independent committee chaired by Mike Ashley, chair of the audit committee at Barclays, which the Institute [...]