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Accounting Firms in Cyprus

The CosmoServe Group is an independent firm of accountants and auditors, which is a member of the Institute of Certified Public Accountants in Cyprus (ICPAC). Our accountants and auditors of the firm are also members of the Association of Chartered Certified Accountants (ACCA) or the Institute of Chartered Accountants in England and Wales (ICAEW). 

CosmoServe has an association with UHY, the world renowned network of independent accounting and consulting firms, with teams operating across 242 offices in 76 countries worldwide. 

Our associated partner firm, UHY Antonis Kassapis, is the groups accounting and auditing arm and amongst the best accountancy and audit firms in Cyprus due to the shared vision of UHY and CosmoServe, which aims to provide a high quality of work and integrity of services. This association also makes CosmoServe your accounting firm of choice in Cyprus.

The CosmoServe Group has undertaken large projects such as services regarding the conversion into IFRS of the accounts of some of the biggest listed companies in Eastern Europe, as well as assisting clients in Initial Public Offerings (IPOs). 

With an abundance of clients that originate from Eastern Europe (with a strong focus on Russia), Central Europe, Western Europe and the United States of America. 

 

Services 

From the offset, CosmoServe’s aim has always been to provide our clients with services of the highest quality, but at the same time, consistently maintaining our professional and business ethics, catering to the needs and requirements of our clients whilst safeguarding their global interests. Due to the vast multilingual staff employed by CosmoServe, we are able to not only communicate smoothly with our client base in English, Russian, Romanian, Greek, Hindi, Bulgarian, Serbian and Ukrainian, but tailor each careful service to our client.

Audit and Assurances

As well as employing an abundance of experienced and qualified auditors, CosmoServe is responsible for preparing and presenting accurate financial information to the shareholders of companies and to the authorities (in the business jurisdictions that require financial statements to be filed).Our Services in this Field Include:

  • Statutory and IFRS audit for companies registered in Cyprus, the United Kingdom and other countries
  • Preparation of stand-alone financial statements in accordance with International Financial Reporting Standards (IFRS)
  • Preparation of consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) 

 

Accounting

We use the latest and most stable software, such as Sage Accounting, which allows us to work with all currencies when recording and preparing accounting records and financial statements.

Invoicing Services - Preparation of monthly /quarterly management accounts which are tailored to your specific needs and company requirements.

CosmoServe also provides payroll services as well as internal audit services. If you require internal auditing services in another jurisdiction, we can also arrange this for you.

 

Internal Audit Services Include:

  • The exercise of special investigations on detection of fraud
  • The preparation and documentation of internal procedures and processes in accordance with client needs and in accordance with regulatory bodies' requirements
  • The design and implementation of internal audit programs, and
  • The preparation of internal audit reports for management use and for company internal audit committees.

 

Corporate Finance and Business Advisory

We assist our clients when they need to make strategic decisions with regard to capital financing, mergers and acquisitions or disposal of their businesses.

Our services include:

  • Management consultancy
  • Advice on mergers, acquisition and management buyouts
  • Due diligence reports
  • Advice on capital restructuring and fund raising
  • Advice with respect to change of ownership and sale of business
  • Feasibility studies including cash flow reports.

 

VAT Services

The VAT aspects of transactions between companies within the European Union (EU) and other transactions involving EU companies are becoming more complex. Specialised VAT advice and guidance is therefore often indispensable.  

Our VAT services include:

  • Registering companies for VAT in Cyprus or other EU-countries
  • Advising clients on the regulations and obligations for VAT within the EU
  • Preparing and submitting VAT reports to the authorities
  • Preparing and submitting EU Sales Lists and Intra Stat reports for companies trading within the EU
  • Assisting clients in dealing with VAT investigations and enquiries

 

Corporate and Personal Taxation

Businesses engaged in international operations feel a growing need for proper international tax support from their auditors. They must be able to rely on professional tax advice in order to minimize their tax burden.

Our tax services include:

  • Services related to the application of double tax treaties, including the filing of requests for residency certificates
  • Preparation and submission of personal and corporation tax forms
  • Assisting clients with tax investigations and obtaining tax clearances from the authorities

 

For more information on how CosmoServe can become your accounting firm in Cyprus, please call us on +357 22 379 210 or email us.