FINWYN CONSULTANCY LTD specializes in providing comprehensive audit services to companies in Cyprus.
Audit in Cyprus
Audit makes it possible to:
- control financial flows;
- make forecasts in business activities;
- assess risks and make a timely plan of measures to minimize or eliminate them;
- to provide necessary information to investors;
- improve the company’s internal control system;
- to ensure maximum business profitability.
Our list of services includes:
- management and regulatory reporting
- analysis of audit data
- the choice of the optimal taxation system
- reviews of financial systems
- advice on financial services
- business structuring
- restructuring of the firm
- making business plans
For your business in Cyprus to be successful and profitable, you need the help of an innovative, dynamic audit team, composed of experts with many years of successful experience. Through auditing, a competent accounting organization of a legal entity registered in this jurisdiction, it is possible to identify and solve the most important financial problems, meet the needs of the business and meet the requirements of the local legislation of Cyprus.
Our specialists guarantee compliance with accounting standards as well as compliance with financial reporting deadlines.
Cost of auditing the Cyprus company
Audit of firms in Cyprus
Every commercial organization registered in Cyprus is obliged to prepare and provide financial statements to the competent authorities in the course of conducting business activities. Duty
The accounting and reporting requirements of the International financial reporting standards. Each company is obliged to prepare a report on the main performance of the enterprise within 42 days of the annual meeting of shareholders, and is obliged to immediately submit to the Registrar of Companies a report certified by the signature of the director and corporate secretary. As required by law, the report on key performance indicators is accompanied by full financial reporting.
FREQUENTLY ASKED QUESTIONS
- Certificate of incorporation
- Charter and Founding Treaty (Memorandum)
- Statement of the company (Incumbency Certificate)
in addition, you may need:
- Certificate of directors
- Shareholder certificate
- Certificate of Good Stand
Financial information for the company:
- Bank account statements for the reporting period
- Cash register
- Balance sheet and financial performance report for previous years
Contracts and contracts
- Confirming transactions and debit or credit turnover, for example: – credit agreement
- Commission agreement
- Brokerage agreement
- For the services of lawyers
- For nominal services
- For office rental
Documents supporting claim-claim and judicial work
- Court decisions
The audit price depends on the number of transactions, and usually amounts to 1,000-1,500 euros for 10-15 transactions per year.
The standard price of auditing – from 600 euros.
Yes, there is. In order to practise the profession of accountant and auditor in the Republic of Cyprus, it is necessary to register in the ICPAC registry and obtain a certificate of practice or certificate of practice and audit qualification from the Institute of Chartered Public Accountants of Cyprus (ICPAC).
Any individual may be registered in the ICPAC Register provided that the Cyprus Institute of Certified Public Accountants (ICPAC) is satisfied that he / she has a good reputation and is suitable for registration in the Register and fulfils any of the following criteria:
- Has a higher education (university or equivalent), as well as established practical experience and passed established professional competence examinations (Regulation 2.300)
- Is a member of at least one of the bodies of professional accountants
- Is a member of any other body of professional accountants who is recognized by the Council as equivalent to the above bodies