Audit & Assurance in Cyprus

WE UTILIZE A RISK-BASED AUDIT METHODOLOGY, WHICH FOCUSES THE AUDIT TO THE RISKS INHERENT IN THE BUSINESS.

McMillan Woods Cyprus specialises in performing audits in accordance with the ISA and reporting under the IFRS. Our key staff members are either ACA or ACCA qualified with significant experience.

When an audit assurance exercise is required, our systematic approach is designed to add value to our client’s businesses and produce positive benefits from our procedures.

In an audit assurance-based assignment, risk-based audit approach is often used to ensure our work task is of the highest value to both our clients and that of the third party’s reliance on the final report, hence enabling proper judgment and decision making.

We utilise a risk-based audit methodology, which focuses the audit to the risks inherent in the business.

Our risk-based audit approach includes audit procedures and checklists which examine all business matters that may arise and have an impact on a company’s Financial Statement.  As a result, the audit opinion issued is relevant and insightful. Our assurance procedures deliver clarity through reporting, bringing value and confidence to our client’s purpose

Audit Assurance FAQs

Yes, all registered Cyprus companies must submit to the Inland Revenue and company registrar audit financial statements even If they are dormant.

 

The deadline to submit to the Inland Revenue is 15 months of year-end and to the company registrar 13 months of year-end.

 
 

The deadline is 1st of August the following year.

 
 
 

Cypriot accounting practices use the International Accounting Standards (IAS) for financial statements preparation. With the European Union membership, the Cypriot companies should adopt IFRS according to EU requirements.

 
 
 
 

If your total revenue exceeds 70.000 euros annually, then you must prepare audited financial statements, however if below 70.000 euros it is not mandatory.

 
 
 
Maxim Golodnitsky
Maxim Golodnitsky
December 5, 2023
Best service, on time, efficient and always professional.
Krystian T
Krystian T
November 16, 2023
The best ❤️❤️❤️
Gina Chammas
Gina Chammas
August 25, 2023
The partner Angelo Aristodimou is an inspiring professional. He is dedicated to serving members of teh Network targeting good service to his clients as well as others who turn to the McMillan Woods Network. Thank you Angelo for all you did for our office in Lebanon!
Al mal
Al mal
August 12, 2023
Professional and pleasant to work with
The Poisonbolt
The Poisonbolt
August 7, 2023
We work online, but he’s the best accountant I’ve ever worked with!
Solonas Kyprou
Solonas Kyprou
April 28, 2023
Excellent accountants! Throughout the entire process, they went above and beyond to ensure that all of my accounting needs were met in a timely and efficient manner. They were always available to answer any questions I had and provided expert advice that helped me make informed decisions about my company.
Tim Disbrey
Tim Disbrey
March 17, 2023
Great service!
Lorenzo Strada
Lorenzo Strada
February 8, 2023
Studio affidabile e super professionale. Ci hanno seguito passo per passo nel nostro trasferimento a Cipro. Consigliatissimo
error: Content is protected !!
Scroll to Top