Mandatory Audit or Review for Cyprus Companies
In accordance with the Cyprus Companies Law, it is mandatory for Cyprus-incorporated companies to undergo financial statement audits or reviews conducted by a Cyprus registered auditor. At Nikita & Partners, we are well-versed in the local regulations and have extensive experience in conducting audits and reviews that meet the necessary standards.
The audit of Cyprus based companies is primarily required to fulfil their statutory obligations. We also extend our audit services to international companies seeking assurance and an audit opinion on both standalone and consolidated financial statements, even for non-statutory purposes. Our expertise and comprehensive approach ensure that all your auditing needs are met, whether driven by legal requirements or a desire for valuable insights and reliable financial reporting.
Our Approach
At Nikita & Partners, we conduct audits in adherence to the International Standards on Auditing (ISAs). We take a risk-based approach, tailoring our methodology to suit the unique characteristics and requirements of each company.
The Importance of Financial Statements
In today’s complex business landscape, organizations face increasing complexity and regulatory demands. Preparing high-quality financial statements has become a necessity. Aside from meeting statutory requirements, owners rely on audited numbers, disclosures, and our audit opinion to make informed decisions. Banks financing the company also expect timely and credible financial reports to assess loan status and security.
Proactive and Responsive
Our team goes beyond the numbers. If deemed necessary, we visit our clients’ premises to gain a comprehensive understanding of their operations and challenges. We prioritize proactive communication and responsiveness, ensuring that there are no surprises as deadlines approach.
Value-Added Audit
We view the audit as more than just a routine process. Our goal is to add value by identifying weaknesses in internal control systems, suggesting areas for improvement, and recommending more effective resource allocation and cost-saving opportunities. We provide insightful recommendations in a clear and actionable manner, helping our clients enhance their operations.
Other Assurance Services
In addition to audits, we offer a range of other assurance services, including internal audit, agreed-upon procedures, due diligence, and internal control reviews, design, and implementation.
At Nikita & Partners, our commitment is to deliver audits that provide not only compliance but also valuable insights and recommendations for your business’s success.
