Audit and Assurance

In accordance with the provisions of the Companies Law in Cyprus as well as the local Tax legislation, every company set uo in the Republic of Cyprus is obliged to submit annually to the Inland Revenue its audited financial statements, which must be audited 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,such as the Institute of Certified Public Accountants of Cyprus.

Our company ,FRS Audit Services Ltd ,follows a flexible audit approach and methodology enabling it to respond promptly and effectively to the individual needs and requirements of its clients.

Our audit methodology is not limited to the provision of our final audit report, as an in depth evaluation of the client's internal control systems, regulatory framework and financial reporting systems, forms an integrated part of our work to be done in this field of offered services.

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

Specifically, our auditing service may provide to the client the following:

  • Statutory audit of the Financial statements
  • Specific purpose audit
  • Internal audit
  • Constructive advice and recommendations on the systems of internal control & operations