Cyprus Audit Services

Our Audit services department specializes in the provision of audit services covering International Audit or Cyprus Audit engagements. The objective of our Audit services department is the delivery of beneficial audit services to our clients by tailoring our audit services to each business's unique characteristics. Therefore, we are able to provide value adding audit services starting from day one.

International and Cyprus Audit Services based in Limassol

Our Cyprus audit services aims to achieve full compliance with the Cyprus statutory audit requirements. However, for us the annual audit is not merely a statutory obligation. On the contrary, we consider it to be an opportunity to provide our clients with an detailed review of the state of their affairs. Therefore, we aim to keep abreast of the latest regulatory changes and investment on the latest versions of audit software to provide the highest quality of audit services.

Moreover, our in depth knowledge and experience in risk based engagements, enables us to effectively apply a risk based approach. Therefore, we are able to structure an efficient and effective audit approach, both of which aim to minimize business disruption and enhances the value of our audit services.

 

For Cyprus Statutory audits, our audit services also covers the preparation of your annual tax returns and their submission with the Cyprus Tax department. Click HERE to read more about our Cyprus tax services.

Our audit services are licensed and regulated by the Institute of Certified Public Accountants in Cyprus (“ICPAC”). Click HERE for our listing in the audit firms register.

Our portfolio of Audit services includes

Performance of Statutory Audits based on International Auditing Standards (IAS)

Drafting and compilation of Financial Statements based on the International Financial Reporting Standards (IFRSs)

Filling of Financial Statements to Regulators (CySEC) and other governmental bodies (Taxation, VAT Authorities)

Preparation of Management Letters to the Company’s Board of Directors sighting areas for improvement

Audit and Assurance services explained

Assurance Engagement Definition

“An assurance engagement is one in which a practitioner expresses a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party about the outcome of the evaluation or measurement of a subject matter against criteria.”

Audit definition

“An audit is a key example of an assurance service, where many companies are required to have audits by law. It is an exercise designed to enable an auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework. An auditor usually expresses a conclusion as to whether the financial statements ‘give a true and fair view’.”

The Institute of Certified Accountants in England and Wales