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info@eltoma-global.com
info@eltoma-global.com
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Financial Accounts & Audit Support – Cyprus
End-to-End Statutory Accounting and Professional Audit Coordination
for Cyprus-Registered Entities.
for Cyprus-Registered Entities.
Cyprus-incorporated companies
of all sizes
of all sizes
Start-ups and SMEs preparing for their first audit
International businesses with subsidiaries in Cyprus
Dormant companies needing financial statements for compliance or strike-off
Holding companies, investment SPVs, and family offices
Regulated entities (e.g. CIFs, ASPs) subject to audit requirements
Financial Accounts & Audit Support
on Cyprus
End-to-End Statutory Accounting and Professional Audit Coordination
for Cyprus-Registered Entities.
for Cyprus-Registered Entities.
Preparing accurate and compliant financial statements is a legal requirement for all Cyprus-incorporated companies and a cornerstone of corporate governance. At Eltoma (Cyprus) Limited, we support companies across all sectors with the preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) and applicable Cyprus accounting and tax legislation.
Our qualified accountants ensure that financial records are complete, reconciled, and properly documented, giving company management, shareholders, and auditors a clear and compliant view of the company’s financial position. We also act as a liaison between our clients and independent statutory auditors, ensuring smooth communication, timely submissions, and minimised audit risks.
Whether your company is preparing for its first statutory audit or is part of a multi-entity group requiring consolidated financials, our team has the expertise and systems to support you.
Whether your company is preparing for its first statutory audit or is part of a multi-entity group requiring consolidated financials, our team has the expertise and systems to support you.
Our Services Include:
We prepare auditable financial statements in accordance with:
- IFRS (as adopted by the European Union)
- Cyprus Companies Law, Cap. 113
- Cyprus Tax Law and relevant practice directions from the Tax Department
- Compilation of the Statement of Financial Position (Balance Sheet)
- Statement of Comprehensive Income (Profit & Loss)
- Statement of Cash Flows and Statement of Changes in Equity
- Drafting of notes to the accounts in line with disclosure requirements
- Director and management reports where applicable
- Formatting in Greek or English for submission to the Department of Registrar of Companies and Intellectual Property.
To ensure the books are audit-ready, we carry out comprehensive year-end procedures, including:
- Posting of final accruals, prepayments, and provisions
- Depreciation and amortisation schedules in line with accounting policies
- Reclassification entries and closing journal entries
- Write-off of bad debts and obsolete inventory where applicable
- Calculation of tax provisions, deferred tax assets/liabilities, and adjustments based on audit feedback.
We coordinate directly with your appointed audit firm to ensure the audit process is as efficient and disruption-free as possible:
- Delivery of full audit support package, including trial balances, general ledger extracts, bank statements, and schedules
- Preparation of audit working papers, reconciliations, and variance explanations
- Timely response to auditor queries, requests for samples, and follow-up documentation
- Assistance in resolving audit issues or misstatements prior to audit finalisation
- Coordination of meetings, updates, and post-audit debriefs
- Implementation of auditor recommendations for internal controls or financial reporting.
We draft and coordinate all required audit confirmations, including:
- Bank confirmation letters for all active and inactive accounts
- Receivables and payables confirmations for third-party balances
- Loan and intercompany confirmations
- Legal representation letters
- Tax compliance status reports from the Cyprus Tax Department (upon request).
For clients operating multiple entities or part of a group structure, we assist in preparing consolidated accounts:
- Elimination of intercompany balances and transactions
- Alignment of accounting policies across group entities
- Consolidated cash flow and equity statements
- Group financial reporting pack for parent entities, investors, or regulators
- Coordination with audit teams across jurisdictions where required.
Under Section 142 of the Companies Law, Cap. 113, all Cyprus-incorporated companies must:
- Prepare audited financial statements annually in accordance with IFRS
- Appoint a registered statutory auditor
- Submit their financial statements to the Registrar of Companies within 12 months of their financial year-end
- Maintain proper books of account that give a true and fair view of the company’s affairs
Why choose Eltoma?
- IFRS-Compliant Expertise
Financial statements prepared in accordance with international and Cyprus-specific standards - End-to-End Management
We manage everything from trial balance to auditor communication and final submission - Audit-Ready Records
Save time and cost with clean, complete,
and professionally maintained books - Local Knowledge & Global Reach
Supporting both Cyprus-based entities and international holding structures - Integrated Services
Combine audit support with our bookkeeping, tax, and corporate services for a streamlined solution
| | Get in Touch To ensure timely, accurate, and compliant financial statements — and to coordinate your annual audit with confidence — contact Eltoma (Cyprus) Limited for a no-obligation consultation! |