Auditing and Financial Reporting
Libor ltd is a Certified Public Accountants and Registered Auditors firm in Cyprus. We undertake all forms of statutory audit for businesses and Non- Profit organizations. Our experience and knowledge enables us to deal with statutory, IFRS and special purpose audits.

We offer expert, reliable, independent professional audit and assurance services to meet our client expectations and requirements and at the same time maintaining our professional and business ethics.

The specific services offered by our firm are with regard to auditing and reporting are:

• Auditing and Reporting compliance in accordance with International Accounting and Auditing Standards
• Preparation and submission of Statutory Accounts to the relevant Cyprus Government Authorities
• Presentation of Financial Statements to the directors and shareholders.

 

Background information

Under the Cyprus Companies Law, the directors of every company are responsible to keep proper books of account necessary for the preparation of financial statements and which are adequate for the presentation of a true and fair view of the company's affairs and an explanation of its transactions.

The directors of every company are responsible to prepare a full set of financial statements and, where applicable, consolidated financial statements, in accordance with International Financial Reporting Standards accompanied by the directors report and the auditors report. Financial statements in the Greek language must be filed with the Registrar of Companies with the annual return every year and there are special filling requirements for branches of overseas companies.

All companies should submit their annual tax returns based on financial statements to the tax authorities by the end of the year following the year of assessment.

For tax purposes, all financial statements must be audited. For Companies Law purposes, they must be audited unless a company meets the small business criteria which, in any event, do not apply for consolidated financial statements and to public companies.

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