Audit and Assurance is one of our firm’s main service lines. We understand our clients’ operations, their industry and the issues they face, and this enables us to provide them with relevant advice. The combination of our specialist skills, industry expertise and ongoing investment allows us to anticipate complex business problems for our clients and recommend preventative action. Audit staff are continuously trained in order to be up to date with the increasing change and complexity of the regulatory environment and to understand the need for greater transparency in operations and disclosure requirements. We provide our audit services to the following fields: Public and listed companies registered in Cyprus, Private companies registered in Cyprus, International Business Companies, Sole Trades, Joint Ventures and Partnerships in accordance with International Financial Reporting Standards (IFRS’s) and the International Standards on Auditing (ISA’s).
We can help also for perform the internal audit of your company, for interim reporting and for specific purpose audits
Our team of bookkeeping specialists are available to work on-site at your offices as well as off-site providing a range of the following services to you:
- Preparation of computerized accounting records
- Preparation of periodic management accounts
- Preparation of statutory financial statements in accordance with IFRSs
- Budgets and cash-flow projections
- Providing technical accounting advice
- Processing sales and purchase invoices
- Preparing and processing VAT returns
- Ensuring PAYE and NIC is accounted for correctly and is up-to-date
- Preparation of the annual tax computation and income tax return for a Cypriot company
- Preparation of the annual tax computation and income tax return for an individual (employee or self-employed)
- Provisional tax handling
- Tax reviews and advice on deductibility of expenses
- Dividend tax issues
- Tax residency and tax clearance procedures
- Representation at the tax office and many more
- VAT registration in Cyprus
- Preparation and submission of VAT returns with the Cyprus VAT authorities
- Representation during inspections by the Cyprus VAT authorities
Audit & Assurance
Statutory and Voluntary Audit for stand-alone and consolidated Financial Statements, based on Greek Gaps and IFRS.
Our risk based approach turns audit to a value adding mechanism, emphasizing to areas that may need improvement, deficiencies in internal controls and eventually maximizing the potential of company’s business.
Specific tax compliance work with the objective of providing an independent limited assurance conclusion as to whether anything has come to our attention that causes us to believe that the Company has not been in compliance, in all material respects, with the applicable tax legislation in accordance with the requirements of Article 65A of the Tax Procedure Code (Law 4174/2013, as applicable) and the respective Decision POL 1124/2015 of Greek Tax Administration.
Audit work relating to financial information (ISRE 4400) which are procedures agreed between an entity and a third party to produce factual findings about financial information or operational processes.
Special audits and or Investigations are needed when it is suspected that laws or regulations have been violated in the financial management of an organization. The scope and focus of a special audit is agreed with the company on a case-by-case basis.
Conversion of legal form of the company, Merges and absorptions
Providing assistance, as independent expert in economic, financial, accounting and business matters, to the parties and the courts in jurisdictional and arbitration proceedings.
Involved in helping organizations achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organization.
A turnaround refers to steady, positive movement experienced after a significant period of performance decline. To effect a turnaround, a company must acknowledge and identify its problems, consider changes in management, and develop and implement a problem-solving strategy. In some cases, the best strategy may be to cut losses by liquidating the company rather than trying to turn it around.
Process of determining the economic value of a business or company. Business valuation can be used to determine the fair value of a business for a variety of reasons, including sale value, or establishing partner ownership.
EUROFAST AUDIT can guide you through the process to buy, sell, fund or fix a business. In each case, we have the same objective: to ensure our clients maximize the return on their deal.
A business plan serves for how you operate your business. While companies need to have a business plan to seek investors or get a loan, the plan is actually for company’s benefit. It provides a step-by-step guide as you start a new business or grow your current company, and it directs every decision you make going forward.
Apart for the preparation of well structures business plans, our advisors undertake independent review of business plans.
Debt Restructuring and mediation services, including but not limited to out of court settlement (Law 4469/2017). Provision of sustainability reports.
The process of due diligence is something which the buyer conducts to confirm the accuracy of the seller’s claims. A potential M&A deal involves several types of due diligence (Financial, Tax, Administrative, Legal)
Tax & Accounting
In a rapidly changing tax environment in Greece our tax experts can help clients understand the impact of the Laws.
We identify potential tax risks and facilitate the implementation of the tax requirements in order to optimize your tax management and help you cope with increasingly complex Corporate Tax legislation.