Accounting & Audit
Accounting & Audit
Audit & accounting services assure your company’s compliance with requirements of applicable laws, financial reporting standards, regulations, rules, contracts, or grants.
A range of services designed to provide timely preparation of company accounts, whether it be at the financial year end or on a monthly basis. Services include, but are not limited to general ledger and financial statement preparation, accounting system design and implementation, cash management & forecasting, and depreciation & asset tracking.
Audit, Review & Compilation
Audit, review & compilation services provide your company the means to comply with your statutory requirements, and give you critical information for making well-informed decisions about your business. Audits independently verify by sight, confirmation, discussion with management, assessment of internal controls and analytical procedures, that a company's financial reports are substantively correct.
Reviews are less detailed and consist predominantly of an assessment of the company's books and records by the performance of analytical tests, certain analytical procedures, and calculation of certain financial tests and ratios. Compilations compile the books and records of a client without the performance of any substantive procedures, independent verification or confirmations.
Services under which a firm makes a formal statement after thorough examination and consideration, as to whether your company’s financial statements fairly present financial position and operating results. These services provide an objective evaluation to aid financial statement users.
Audit services designed to help your business mitigate risk, create new efficiencies and better support strategic objectives. In addition to doing basic review of company financials, internal auditors review your processes and make recommendations to maximize productivity.
In cooperation with our preferred service providers, we can provide the following services:
- Accounting books and records keeping as per International Financial Reporting Standards
- Assistance in the setting up of computerized accounting systems at client’s premises
- Registration to the Income Tax and Social Insurance
- Registration to the VAT, VIES and INTRASTAT
- Preparation and submission of Income Tax declarations, VAT, VIES, INTRASTAT returns and Social Insurance forms to the related Government Department
- Communication with the tax office and statistical office Central Bank of Cyprus and other governmental institutions handling company affairs
- Preparation of monthly, quarterly, six monthly and yearly financial reporting on company’s performance for management reporting purposes
- Preparation of management financial statements
- Payroll services
- HR and social security services
- Mail forwarding, mailbox, telephone and fax services
- Email forwarding and website
- Audit of financial statements
- Financial Due Diligence
In addition, through our preferred service providers, we can assist you with detecting and deterring fraud by evaluating accounting systems for weaknesses, designing and monitoring internal controls, determining the degree of organizational fraud risk, interpreting financial data for unusual trends, and following up on fraud indicators.
Our preferred service providers include professional accounting and audit firms, members of the Association of Chartered Certified Accountants of the UK (ACCA) and the Institute of Certified Public Accountants of Cyprus (ICPAC).