Reporting and audit of companies in Cyprus

Each company is required to prepare annual financial statements in accordance with the requirements of International Financial Reporting Standards, as well as each parent company that owns at least one subsidiary in Cyprus, and is not itself a subsidiary, is required to provide consolidated financial statements.

Each company is required to prepare a report on the main indicators of the enterprise within 42 days from the date of the annual meeting of shareholders, and is obliged to immediately submit to the Registrar of Companies such report certified by the signature of the director and corporate secretary.

In accordance with the requirements of the legislation, the report on key performance indicators is accompanied by full financial statements.