Professional Audit Services with Partner Level Attention
Compliance
Growth
Trust
Reputation Protection
Audit and assurance services that go beyond filing requirements, supporting compliance, transparency, and informed decision making.
Partner led statutory audits under IFRS and ISAs, ensuring accuracy, consistency, and full regulatory compliance
Early identification of accounting and reporting risks to avoid delays, restatements, or filing issues
Seamless coordination with banks, group auditors, and regulators for Cyprus and cross border structures
Clear audit planning, defined timelines, and predictable deliverables aligned with statutory deadlines
Value focused audits that provide reliable financial information for management, investors, and strategic decision making
Preparation of Financial Statements
Accounting Handover
Structured handover including audit checklist, access to books and portals, and a clear timetable aligned with statutory filing deadlines.
Pre-close tidy up
We prepare and finalise year-end adjustments, reconcile key balances, and compile the audit pack including trial balance, schedules, and bank or EMI reconciliations.
Fieldwork
Licensed auditors perform focused audit procedures and confirmations, managed through a tight, live list of queries.
Drafts & approvals
You receive draft IFRS financial statements and tax computations. Outstanding points are cleared, followed by board approval.
Filing & handover
We file with the Registrar of Companies and the Tax Department, and deliver a bank-ready PDF set together with a complete digital audit file.
One Contract • All Services
FINANCIAL CREDIBILITY
Properly audited accounts reduce risk, strengthen credibility, and ensure what you file matches the reality of your business.
Nina Timochidou
Financial Director, Trustank Corporate Services Ltd
Related Publications
Year-end accounting in Cyprus: tidy books and tax smart moves
Year-end accounting in Cyprus keeps your books clean, filings accurate, and taxes optimised. Discover how to close your year smartly and stay compliant.
Frequently Asked Questions
Why is an audit compulsory in Cyprus?
Because the Cyprus Companies Law (Cap. 113) requires companies to prepare IFRS financial statements and have them independently audited by a licensed statutory auditor, unless a specific statutory exemption applies. This is a legal obligation, not a choice.
Does the audit requirement apply even if my company is inactive or has low activity?
Yes. Dormant or low activity companies are still required to comply with statutory audit obligations unless they formally qualify for and meet the conditions of the exemption. Zero or minimal transactions do not automatically remove the audit requirement.
Are there any companies exempt from a statutory audit?
Only certain small private limited companies may qualify for an exemption, based on turnover and total assets thresholds. Even in those cases, IFRS financial statements must still be prepared and a review engagement by a licensed auditor is required instead of a full audit.
What happens if I do not complete the audit on time?
Late or missing audits can lead to penalties, rejected filings with the Registrar of Companies, issues with the Tax Department, and difficulties with banks or counterparties. Repeated non compliance can also increase regulatory scrutiny.
Why does the law require an independent auditor?
An independent auditor provides objective assurance that the financial statements present a true and fair view and are free from material misstatement. This protects creditors, shareholders, counterparties, and the integrity of the tax system.
Is the audit only for the authorities, or does it benefit my business as well?
While audits are required by law, they also benefit the business by identifying errors, weak controls, and reporting issues early. Properly audited accounts strengthen credibility with banks, investors, and partners and support informed management decisions.
Do you offer fixed pricing?
The responsibility rests with the company’s directors. Ensuring proper records, timely audits, and accurate filings forms part of directors’ statutory duties under Cyprus law.