Audit and Assurance Services

A complete range of audit and assurance services designed to ensure your business operates effectively and complies with the relevant legislation in Cyprus. Our audit services:

• Preparation of Financial Statements and Reports in accordance with I.F.R.S standards
• Audit Reports with International Standards on Auditing I.S.A
• Companies Limited Reviews
• Due Diligence
• Business Fraud Investigations and Dispute Services

Preparation of Financial Statements and Reports in accordance with I.F.R.S standards

Financial statements and associated reports essentially convey the financial activities of a business as clearly and concisely as possible.

Financial statements are useful because they provide essential information to adequately plan for the future of the business and make economic decisions.

International Financial Reports Standards are a set of international accounting standards, as issued by the International Accounting Standards Board.

By doing so, accounts can be easily understood and interpreted across international boundaries.

Audit Reports with International Standards on Auditing (I.S.A)

An audit report, usually carried out by an independent professional, is essentially the written opinion of the auditor in regards to a company’s financial statements. Audit reports are usually required by lenders, potential investors as well as relevant tax authorities and legislative bodies.

Successful audit reports will help you effectively communicate information to interested parties such as stakeholders, lenders, investors. Secondly, they improve the efficiency of your business and resolve any accounting or liquidity issue promptly and efficiently.

Companies Limited Reviews

Limited review is the process of auditing, or reviewing, the financial statements of a company on a regular basis. It is required for Limited reviews to be prepared and presented in accordance with an applicable financial reporting framework.

Due Diligence

Due diligence is the process of investigating a business or entity, which usually involves reviewing all relevant financial records by exercising a reasonable standard of care.

Such reports are of utmost importance in ensuring that informed decisions are made before entering into a financial transaction and are useful tools in considering all the costs and benefits involved in a business transaction.

Effective due diligence will safeguard the company from unnecessary exposure and minimize risks. Cases in where due diligence reports are carried out are before an acquisition;
or if a seller would like to ensure that the potential buyer has the ability to complete on their purchase offer.

Business Fraud Investigations and Dispute Services

We can assist you in the following:

• investigating suspected misconduct
• addressing fraud and corruption
• manage the risks involved as well as measuring the financial implications of such disputes

If fraudulent activity is indeed identified, we will assist you in handling and negotiating the dispute process.