Audit & Assurance

Although, in Cyprus, there are no general statutory requirements that the accounts of a business should be audited, companies incorporated under the Companies Law must appoint an independent auditor. There is no specific requirement under tax law for the production of audited accounts, but the Revenue authorities normally insist on audited accounts where these are required by the Companies Law or other relevant legislation.

Audit is a useful and valuable tool to shareholders, directors and stakeholders. It provides an opportunity to the shareholders and directors to improve their company’s efficiency, profitability, credibility and sustainability.