Cyprus Audit and Assurance

Cyprus Audit and Assurance

 

As market leaders, we constantly pioneer to give our clients an intelligent, respected, and resourceful service. Our auditors analyse every aspect of our clients’ activities, providing real value to each of their businesses and underpinning investor confidence.

Whoever our clients are, we get to know them so we can understand their objectives and help them to make the right decisions.

We conduct our audit in order to help you assuring that you are in compliance with applicable reporting standards (IFRSs), as well as we identify internal management issues and insights that can help you address both present and future challenges.

We approach your audit with a deep and broad understanding of your business, the industry in which you operate, and the latest regulatory standards. We consider the risks your company faces, the way management controls these risks and the transparency of your company’s reporting to stakeholders.

According to the Cyprus Company Law, Cap 113, every company incorporated in Cyprus should appoint an independent audit firm to audit the company’s accounts. In line with the audited financial statements, the corporate tax return is prepared and submitted to the Tax Authorities along with the tax declaration.

Audit is a useful and valuable tool to shareholders, directors and stakeholders. It provides an opportunity to the shareholders and directors to improve their company’s efficiency, profitability, credibility and sustainability.

Our Firm’s Audit approach

• Every business is unique
• Services are tailord
• Meet the specific demands of each business
• Apply auditing and reporting standards
• Identify threats and risks
• Understanding the business environment
• Understanding the industry environment
• Face-to-face discussion
• Partner-led client approach
• Audit professional expertise
• Reporting on every issue

Our Firm’s Audit Aim

• Deliver measurable benefits
• Extract maximum shareholder value
• Ensuring real added value
• Ensuring internal controls apply
• Identify current opportunities
• Diversification
• Innovation
• Business growth
• Provide constructive solutions
• Maximize business wealth
• Tax-wise solid picture

 

Internal Audit

 

PHS continues to make the difference in the market by providing unique internal audit services to audit committees. Our PHS Internal Audit professionals can help you to improve the performance of your Internal Audit function.

Our professionals are focusing on reviewing your controls governance, benchmarking Internal Audit performance and advising boards on improving, strengthening and implementing internal controls models and technology.

Internal Audit can help the board and the audit committee gaining comfort over all aspects of the company’s controls governance, monitoring and decision making.

Nowadays, the BoD and shareholders of many companies are concerned on assessing and managing enterprise risks, hence they always include risks on board agendas requesting more information and of course how to minimise such internal risks.

Making a business risk-resilient creates an environment where you have the confidence to make decisions based on a solid foundation of good risk management. Introducing an enterprise-risk management process increases the strategic value of an organisation.

PHS audit professional team received an award from the ICPAC & ACCA for the quality controls implemented in all audit clients.