Cyprus Statutory Audit
& Assurance
Every Cyprus private limited company must be audited annually — no exceptions. We prepare your financial statements and coordinate with registered auditors to ensure smooth, timely completion.
Book a ConsultationAudit Support Services
We handle preparation and coordination — so your audit goes smoothly every year.
- Statutory audit (required for all Cyprus Ltd)
- Financial statement audit
- Audit planning and preparation support
- Communication with independent auditors
- Annual financial statements (IFRS / Cyprus GAAP)
- Directors' report preparation
- Compliance audit support
- Audit readiness review
- Post-audit sign-off coordination
- Filing of audited accounts
- Management letter responses
- Deferred tax and provisions review
Mandatory for All Cyprus Companies
Unlike many EU jurisdictions, Cyprus has no small company audit exemption. Every Cyprus Ltd — regardless of size, turnover, or activity — must have its annual accounts audited by a registered auditor.
Annual Audit Timeline
- Q1 Year+1 Prepare & review financial statements
- Q1–Q2 Auditor fieldwork and sign-off
- 31 Mar IR4 tax return filing deadline
- Annual Registrar annual return filing
ICPAC Regulated
All audit-related services are provided in accordance with ICPAC professional standards.
Audit Questions Answered
Is audit mandatory for all Cyprus companies?
Yes. All Cyprus private limited companies (Ltd) are required by law to have their annual financial statements audited by a registered auditor, regardless of size or turnover. There are no small company audit exemptions in Cyprus.
When must the annual audit be completed?
There is no fixed statutory deadline for audit completion, but audited financial statements are required to file the annual return with the Registrar of Companies and the corporate tax return (IR4) by 31 March. In practice, audits should be completed well before this date.
What accounting standards apply in Cyprus?
Cyprus companies may prepare financial statements under International Financial Reporting Standards (IFRS) or Cyprus GAAP. Most international and larger businesses use IFRS. The choice should be made at incorporation and is difficult to change retrospectively.
Do you act as the auditor?
We provide audit preparation support and coordinate with independent registered auditors. We do not act as statutory auditors ourselves, as independence requirements mean the auditor must be separate from the company's accountants.
What happens if a company misses the audit?
Failure to maintain audited accounts can result in penalties from the Registrar of Companies and the Tax Authorities, difficulties filing annual returns, and potential issues with bank accounts and regulatory compliance.
Keep Your Cyprus Company Compliant
Book a consultation and we'll explain what's needed for your company's annual audit cycle.
Book a Free Consultation