Find Accountancy, Audit and Tax expertise in Cyprus

 

Overview

Numerous local and international accounting firms can be found operating in Cyprus, including the ‘Big Four’ (PwC, Deloitte, KPMG and Ernst & Young).  The prospects of the profession widened with the arrival of new off-shore companies, the listing of a large number of companies in the Cyprus Stock Exchange, the lifting of restrictions in the capital movement and accession in the EU.  Companies in Cyprus must file annual financial statements with the Registrar of Companies in accordance with the International Financial Reporting Standards (IFRS) in line with European Commission regulations.  Although IFRS are required to be used by all Cyprus companies, there are some exceptions for consolidation for private entities based on small group exemptions or when consolidated financial statements are prepared by the parent company in accordance with GAAP (Generally Accepted Accounting Principles).  In the World Economic Forum’s Global Competitiveness Report (2012-13) Cyprus came 29th in the world (out of 144 countries) for the strength of its auditing and reporting standards, with a value of 5.4 out of 7, above the world mean of 4.6.  In the 2011 World Bank’s Ease of Doing Business Index Cyprus placed 23rd in the world (out of 183 countries) for resolving insolvency, coming just below Portugal and three below Spain. 

Accountancy, Audit and Tax organisations in Cyprus
Abacus Ltd
Deloitte & Touche
Ernst & Young
Grant Thornton
KPMG
Kyriakides - Savvides & Associates
P. Kalopetrides & Co
Photiou Efthyvoulou Koutsoftas
PricewaterhouseCoopers Cyprus
Privewaterhouse Coopers
The Institute of Certified Public Accountants of Cyprus
Yiallourides & Partners Chartered Accountants