If you have recently taken responsibility for a Cyprus subsidiary — or if your group has expanded into Cyprus for the first time — understanding the Cyprus audit requirements is one of the first things to get right. Cyprus has specific statutory audit rules that determine when a Cyprus company audit is required, when a review engagement may be possible, how filing deadlines work, and what transfer pricing obligations apply to entities with related party transactions. Getting any of these wrong creates compliance gaps that are difficult and costly to close retroactively.
This article sets out the core Cyprus audit requirements for private limited companies, explains the distinction between a statutory audit and a review engagement, covers the key filing deadlines, outlines transfer pricing documentation obligations, and explains what group finance teams should know about consolidation requirements where the Cyprus entity is the parent. These Cyprus audit requirements should be
