REQUIREMENTS TO AUDIT

Every Cyprus company is obliged under the law to appoint a qualified auditor who will audit the financial records and submit to the authorities an annual financial report. Such report should indicate whether the financial statements reflect a true and fair view of the company’s financial standing.

Every Cyprus company is obliged to submit to the Registrar of Companies a copy of the audited financial statements together with the Annual Report. The financial statements must be prepared and submitted by 31 December of the year following the year of registration of the company. Holding companies are obliged to prepare and submit consolidated financial statements.