Complete Audit Support
Make your audit process stress-free with our comprehensive support services. We prepare all necessary documentation, coordinate with auditors, and ensure compliance with Cyprus and international auditing standards.
📋 Cyprus Audit Requirements
Companies with annual turnover exceeding €200,000 or total assets exceeding €100,000 must have their financial statements audited by a registered auditor in Cyprus.
Pre-Audit Services
- Audit readiness assessment and gap analysis
- Financial statements preparation and review
- Trial balance preparation and reconciliation
- Supporting schedules and working papers
- Internal controls documentation
- Compliance checklist preparation
- Auditor selection and engagement
- Audit planning and timeline coordination
During Audit Support
- Primary point of contact with auditors
- Document retrieval and organization
- Query response and clarification
- Additional analysis and reconciliations
- Client representation and advocacy
- Progress monitoring and reporting
- Issue resolution and management
Audit Ready
Complete documentation and organized records ensure your audit starts smoothly and finishes on time.
Expert Liaison
Professional communication with auditors to resolve issues quickly and maintain good relationships.
Compliance Focus
Ensure full compliance with Cyprus Companies Law and international financial reporting standards.
Our Audit Support Process
Pre-Audit Planning
Review records, prepare schedules, and coordinate audit timing and logistics with all parties.
Documentation Preparation
Organize all supporting documents, prepare trial balances, and create audit working papers.
Audit Coordination
Facilitate auditor requests, provide explanations, and resolve queries throughout the audit.
Post-Audit Follow-up
Review audit findings, implement recommendations, and prepare for next year's audit.
Types of Audits We Support
Statutory Audits
- Annual financial statement audits
- Companies Law compliance audits
- Group consolidation audits
- First-time audit preparations
Specialized Audits
- Grant and funding audits
- Due diligence support
- Internal audit assistance
- Regulatory compliance audits
- Tax audit support
- Forensic audit assistance
International Standards
- IFRS compliance and implementation
- International auditing standards
- Cross-border audit coordination
- Parent company reporting requirements
Common Audit Areas We Help With
- Revenue Recognition: Proper cut-off and recognition policies
- Accounts Receivable: Aging analysis and collectibility assessments
- Inventory: Valuation, count procedures, and obsolescence provisions
- Fixed Assets: Existence, valuation, and depreciation calculations
- Accounts Payable: Completeness and accurate recording
- Accruals and Provisions: Proper estimation and documentation
- Related Party Transactions: Identification and disclosure
- Going Concern: Assessment and supporting evidence
- Subsequent Events: Identification and proper treatment
- Financial Statement Disclosures: Complete and accurate notes
Why Choose Our Audit Support?
- Audit Experience: Extensive experience with Cyprus and international audits
- Auditor Relationships: Established relationships with major audit firms
- Efficient Process: Streamlined procedures that save time and reduce costs
- Quality Focus: High-quality documentation that meets professional standards
- Proactive Approach: Identify and resolve issues before they become problems
- Client Advocacy: Represent your interests while maintaining auditor relationships
- Continuous Support: Available throughout the audit process, not just at year-end
- Cost Effective: Reduce audit fees through efficient preparation and support
Audit Documentation We Prepare
- Trial balance with comparative figures
- Bank reconciliations for all accounts
- Accounts receivable aging and confirmations
- Inventory count sheets and valuations
- Fixed asset registers and depreciation schedules
- Accounts payable aging and confirmations
- Accrual and prepayment schedules
- Related party transaction summaries
- Management representation letters
- Subsequent events documentation
- Financial statement draft and notes
Benefits of Professional Audit Support
- Reduced Audit Fees: Well-prepared audits cost less and finish faster
- Better Audit Opinions: Proper preparation helps avoid qualified opinions
- Stress Reduction: Professional handling reduces management time and stress
- Compliance Assurance: Meet all regulatory and statutory requirements
- Process Improvement: Identify and implement better internal controls
- Stakeholder Confidence: Clean audits enhance credibility with banks and investors