Audit

LSTS is registered under the Institute of Certified Public Accountants of Cyprus (ICPAC), we provide assurance and audit services to assist companies in improving their corporate reporting in accordance with the law so that that their systems are operating effectively thereby ensuring the integrity of the financial reporting mechanism whilst fulfilling the statutory obligations of the company.

LSTS adopts a unique audit approach to enable us to conduct an in depth analysis of a client’s internal control systems in a time efficient and effective manner which is in compliance with the International Standards of Auditing (ISAs).

Audit and Assurance Services

  • Statutory Audit of financial statements in compliance with the International Standards of Auditing (ISAs).
  • Preparation of audited financial statements in accordance with International Financial Reporting Standards (IFRS).
  • Due diligence Reports.
  • Internal Audit – systems review and evaluation of internal controls.
  • IFRS training and update on current and upcoming development.
  • Assistance in achieving good corporate governance, complying with statutory requirements and fulfilling their daily accounting obligations:
    • Tax Compliance
    • Substance Requirements
    • Payroll

Additional Services

  • Accounting and administration services.
  • Preparation of entity and consolidated financial statements in line with IFRS.
  • Full Payroll Services, including, advising on taxation and employment law issues, liaising with Income Tax Department and Social Security Department, preparing tax returns and obtaining residence permits.
  • Periodic financial statements and reports for management purposes.
  • Preparing budgets and producing reports monitoring actual performance against budget.
  • Preparing ageing analysis of debtors and debtors statements.
  • Logistical support on sales and debtors, purchases and creditors’ functions
  • Assistance with the preparation of tax and VAT returns.
  • Advising on the setting up and the handling of companies’ provident funds.

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