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Audit and Assurance

Audit and Assurance

Based on the Companies Law in Cyprus, every incorporated company in the Republic of Cyprus is obliged to submit annually to the Inland Revenue its audited financial statements, which must be prepared by licensed auditors eligible to perform statutory audits. Audit/accountancy licenses are granted, monitored and regulated under the Companies Law and the assigned Regulated Bodies.

AuditLine Limited is an independent firm of accountants and auditors, which is a member of the Institute of Certified Public Accountants in Cyprus (ICPAC) The directors of the firm are members of the Association of Chartered Certified Accountants (ACCA), American Institute of Certified Public Accountants (AICPA) and the Illinois CPAs Society.

The Firm's audit methodology is aimed at providing the highest possible value to our clients offering advice and recommendations on improving overall internal control and efficiency of operations. Through its experienced and qualified auditors, AuditLine Limited is responsible for preparing and presenting accurate financial information to the shareholders of companies and to the authorities.

Our audit approach applied by the Audit and Assurance Department is tailored to clients' individual circumstances such as the industry sector in which they operate, their size and operations and their legal status by ensuring full compliance with International Standards on Auditing and internationally applied auditing practices.

Specifically our auditing services may provide to the client the following:

  • Statutory Audit for companies registered in Cyprus and other jurisdictions based on International Auditing Standards (IAS).
  • Preparation of company and consolidated Financial Statements in accordance with International Financial Reporting Standards (IFRSs)
  • Audit reports in accordance with International Standards on Auditing (ISAs)
  • Preparation of Consolidated Financial Statements in accordance with IFRSs
  • Preparation of Financial Statements for Non-Profit Organizations.

Constructive advice and recommendations on the systems of internal control & operations it and Assurance.