Cyprus

Audit 

The major part of any business consists of day to day transactions. Processing the transactions rapidly, accurately and efficiently becomes necessary for the continuation of the well-functioning of a business. For this purpose, the business has to establish internal audit systems and procedures to identify, enter, elaborate and present these transactions.

At KPMG, we do not view the annual audit as a statutory obligation, but as a means to provide our clients with a detailed and an in-depth presentation of their business financial statement. Our highly developed proprietary audit software liberates our professionals from repetitive tasks and allows them to concentrate on what is important – giving added value to companies. Our approach emphasizes the understanding of the existing risks that the business faces and the internal audit systems that the Management has established for the control and limitation of such risks.

The understanding of internal audit systems is further complemented during the planning of our audit. The methodology we use regarding the audit of day to day transactions has been designed so as to meet the Management’s expectations and focus on structure and organization systems. Our aim is to evaluate the effectiveness of internal audit systems in terms of prevention, verification and correction of possible mistakes or omissions.

Furthermore, we carry out controls in the internal audit systems and procedures, which constitute the base of the audit attestation of financial statements. The findings of these controls may contribute in avoiding or editing possible mistakes or omissions.

Lastly, it is important to note that we deliver a management letter immediately after the conclusion of the audit, which includes the detected weaknesses of the internal audit systems and provide relevant suggestions for improvement.

The audit services we provide may be categorized according to the clients’ needs as follows:

 

  • Statutory controls of financial statements
  • Financial and management controls with specific features and purposes
  • Other audit services:
    • Guidance and help in composing of financial statements
    • Limited reviews
    • Due Diligence
    • Internal audit systems controls.

 

We aim to provide our clients with a detailed and an in-depth presentation of their business financial statement  

 

 

 

 

Our highest priority is to work closely with our clients

Why KPMG?

The primary purpose of KPMG audit services is the collection of reliable, relevant and adequate evidence and the provision of an independent view of the financial statements of our clients. Through our audit services we help business in achieving their objectives and succeeding through the evaluation of efficiency, risk management and proper use of knowledge.

Apart from our long experience, we have the advantage of having access to information regarding the trends in various business issues, either as potential risks or as hidden opportunities to improve their efficiency.

The audit services we provide are based on the following:

 

  • Engagement Partner leading role
  • Understanding of our clients’ business activities and expectations
  • Communication Competence.

Audit Contacts

Panicos G.Loizou
Board Member, Head of Audit

+357 25869222

Fax: +357 25363842

ploizou@kpmg.com