Audit and Assurance

The audit and assurance landscape is changing. Regulatory requirements, coupled with increased investor demands for greater transparency are putting more pressure on organisations. As a result, the issue of audit and assurance is high on the agenda for many boards.
An audit provides credibility to your business, enhancing confidence and trust as well as reinforcing the attributes of integrity and reliability of the business’s management team. Our performance is continuously assessed through the Institute of Certified Public Accountants of Cyprus monitoring review.

Our audit approach is tailored to suit the size, nature and complexity of your business. Neoserve has the knowledge and experience necessary to help you with complex financial accounting issues related to matters such as valuations, pensions and share plans, listings, IFRS conversions, and corporate treasury and company secretarial functions.

The range of audit services includes the following.

Statutory audit for companies registered in Cyprus

Our Audit & Assurance services comprise of statutory and regulatory audit services, information systems review and general accounting and regulatory issues. We are licensed by the Institute of Certified Public Accountants of Cyprus (ICPAC) to carry out statutory audits of financial statements as and when required by the local legislation. Our partners are qualified chartered/certified accountants and members of ICPAC as well as ICAEW and ACCA, with practicing certificates to perform statutory audits.

Audit of financial statements prepared in accordance with International Financial Reporting Standards (IFRS)

We can carry out audits of financial statements prepared under IFRS in countries where this is not a statutory requirement. This can also be done in cases where an IFRS audit may be required in order to report to the Group auditor who is expressing an opinion on the Group financial statements prepared under IFRS.

Review of financial statements

In cases where a full audit may not be required, we may be engaged to perform a review of the financial statements which involves performing detailed procedures with the purpose of reporting on whether anything has come to our attention that causes us to believe that the financial statements are not presented fairly in all material respects in accordance with IFRS.

Review of interim financial information

Interim financial information is financial information that is prepared and presented in accordance with an applicable financial reporting framework and comprises either a complete or a condensed set of financial statements for a period that is shorter than the entity’s financial year. Such a review consists of making inquiries, and applying analytical procedures. A review is substantially less in scope than an audit and an audit opinion is not required.

Internal Audit

Internal Auditing is an objective assurance and consulting activity designed to add value and improve an organization’s operations.