Audit of Cyprus companies

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Cyprus has traditionally been an attractive international financial services hub due to its strategic location, preferential taxation system, financial stability and reliability, as well as first-class infrastructure and highly skilled workforce. As a Member State of the European Union, Cyprus also boasts an extensive number of treaties to avoid the burden of double taxation within various countries.

All companies registered in Cyprus according to the Cyprus Companies Act, Cap. 113 (O περί Εταιρειών Νόμος, Κεφ.113), must prepare financial statements in accordance with International Financial Reporting Standards (IFRS), as adopted by the European Union, and submit audited financial statements once a year to the Registrar of Companies together with the Annual Return.

We understand that our clients require specific services to meet the individual needs of their business, whether they are multinational corporations or businesses serving the local communities. MOORE ST’s team provides for a wide range of services to Cypriot companies, including audit.

THE MOORE APPROACH

A Moore’s audit provides assurance on your business controls and ultimately, satisfies regulatory compliance to regulatory requirements. However, it is more than just a basic compliance service. Providing audits and ‘adding value’ are not usually viewed together. We do not subscribe to this concept. The very nature of the auditing process means we gain detailed knowledge and understanding of your business at different levels. As such, we are able to quickly identify risks as well as any areas for potential improvement.

HELPING YOUR BUSINESS DEVELOP

The audit is the perfect starting point for business advice. Before a business can even set future objectives (let alone begin to meet them), it needs to fully understand its current situation. The audit provides historical information, which in turn allows future trends to be predicted. Only by going through this process can a business effectively plan to achieve its objectives.

IMPROVING YOUR SYSTEMS AND CONTROLS

Working in a business day-in day-out can mean concentrating on specific issues whilst failing to notice the wider situation. In looking at the business from completely independent view, we are able to suggest ideas for improvement that may not have otherwise been considered.

SATISFYING THIRD PARTY REQUIREMENTS

An audit does not just provide confidence to the owner that a business is in good shape - it also offers evidence and assurance to third parties. An audit permits the stakeholders of a business such as shareholders, banks, suppliers, customers and even staff, to make better-informed decisions about its current performance and their subsequent relationship to it, providing additional comfort when deciding whether to invest in, provide finance to or trade with that business.

Our specialists have a high level of expertise and experience to provide appropriate services. The network of partners allows to provide, if necessary, the highly specialized employees with experience in different types of services in order to meet the individual needs of companies at different levels.

MAXIM SOBOKAREV

Audit Director, Director of Financial Consulting and Valuation Services

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MARINA GORBUNOVA

Member of Supervisory Board, General Director of OOO “Moore Stephens”, Audit Director


MARIA VOLKOVA

Member of Supervisory Board, Head of MOORE ST Vladivostok Office, Audit Director