Audit & Assurance
The Auditing Services include but are not limited to the following:
- Statutory audits of companies in accordance with International Audit Standards (IAS) and also taking into account International Financial Reporting Standards (IFRS);
- Risk Assessment;
- We deliver specifically tailored service for international clients customized to their requirements of both the international and local regulations which have affect on them;
- Reassertion of accounts to comply with IAS/GAAP requirements;
- System review and internal controls design;
- System review and internal controls design;
- Sustainability reporting.
As each jurisdiction has its own regulations in respect with the accounting and the timeframe for submitting tax returns, Oxford will make sure that you will be notified on the right time so that you provide us with all required documents for preparing the accounts and audit report.
- The documents required are generally the following:
- Bank statements;
- Purchase receipts/sales invoices;
- Agreements (e.g. loan agreements, lease agreements, share purchase agreements etc).
Cyprus Tax Law & Tax Returns
According to the Cyprus Tax Law, every company registered within the Republic of Cyprus is required annually to submit a tax return to the Inland Revenue based on audited financial statements showing the true and fair picture of the affairs of the company and explaining its transactions. These must be prepared by licensed auditors who are qualified to perform statutory audits. The financial statements must be prepared according to International Financial Reporting Standards and can be filed in the Greek or English language. Also, annual financial statements must be prepared and filed with the Registrar of Companies.
Through our esteemed associates Athos Fouttis & CO LTD we may respond promptly and effectively to the personal needs and individual requirements of our clients by keeping a flexible and dynamic approach to audits.
The methodology used by Athos Fouttis & CO LTD is very responsive to in-depth evaluations of the clients internal control systems, regulatory framework and financial reporting systems and is therefore not limited to the provision of their final audit report; the evaluations form an integrated part of our work for our clients and we are happy to offer this service beyond our report.
Because of this offer Athos Fouttis & CO LTD may provide their opinion on our clients’ financial statements, but also as external and therefore independent advisors who offer advice on a wider spectrum of issues and matters, aiming ultimately to assist our clients and improve their business through a well-controlled business environment.
