Accountancy and Audit Services – Financial Advisory

Our aim is to meet the specialized needs of our corporate and private clients, and to deliver result-focus strategies and approaches by responding quickly and effectively to changes in International Accounting standards, Audit, Tax and Legal Regulations. We strive to provide quality results with full confidentiality and discretion focusing on client needs and deliver efficient solutions.

Through our associates, being a leading provider of professional business services in Cyprus specializing in Audit, Tax, Accounting and Advisory services, we can offer professional and expedient services to support and meet your Accounting and Financial obligations. (Please visit “Our Associates”, in order to read more information).

We strongly believe that the provision of timely and accurate financial information is crucial for businesses in order to:

• Improve their control over their statutory reporting position
• Provide timely delivery of required information
• Avoid manual intervention and thus reducing the risk of errors (by using computerized accounting software)
• Improve transparency
• Maintain the required compliance with the local statutory demands

Pursuant to the Article 854 of the Companies Act 2006, every company is under a statutory obligation to deliver annual returns:
Every company must deliver to the registrar consecutive annual returns each of which is made up to a date not later than the date that is from time to time the company’s return date.
The company’s director(s) and the secretary (where applicable), are responsible for ensuring that they deliver the annual return to Companies House within 28 days after the anniversary of incorporation of a company or of the anniversary of the made-up date of the last annual return.
There are ‘dangers’ not to deposit Annual Returns on the Register. Since there are statutory penalties imposed by law, it is not advisable not to proceed to submission of Annual Returns. Moreover, there is a likelihood that the Registrar, will assume that the company is no longer carrying on businesses or in operations and will take steps to strike out the company from the Registry.

Services that we offer:

Through our well-trained and experienced associates, we offer the following services:

• Preparation and Submission of Annual Return.
• Bookkeeping using computerized accounting software
• Assistance in the setting up of computerized accounting systems at client’s premises
• Training of staff in maintaining proper accounting records
• Payroll processing and administration
• General ledger & financial statements preparation
• Monthly, quarterly, six monthly and yearly financial reporting on company’s performance for management purposes
• VAT bookkeeping
• Ageing analysis of debtors
• Preparation of debtors statements of account
• Bank reconciliation with the monthly bank statements
• Reconciliation of creditors balances with the creditors statements of account

Our Associates maintain a flexible audit approach enabling them to respond promptly and effectively to the individual needs and requirements of all the spectrum of clients.

They see themselves, not just as auditors providing their opinion on the financial statements of the clients, but also as independent external advisors offering their advice on a wide range of matters and issues with the aim to assist clients to enhance and improve their business within a well-controlled business environment.

Our Associates have the resources for maintaining proper books and records and up-to-date management reporting in compliance with international financial reporting standards including:  Specifically their auditing service may provide to the client the following:

• Specific purpose audit
• Internal audit
• Constructive advice and recommendations on the systems of internal control and operations
• Tax Consultation
• International Tax Planning
• Tax Submissions
• Issuing of Tax Certificates
• Providing Tax Opinions
• Obtaining of Tax Rulings
• International Tax Planning and Advice
• Advising on maximizing the benefits of the network of double tax treaties signed by Cyprus with other countries
• Collective Investment Schemes
• Advising on Anti-money laundering legislation
• Payroll Services
• Accounting services
• VAT registration and Reporting
• Compliance reports with International Financial Reporting Standards (IFRS)
• Accounting and VAT advice

We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.