Statutory Audit & Assurance
Risk-focused, partner-led statutory audits that go beyond compliance — delivering commercial insight, regulatory confidence, and genuine stakeholder assurance.
An audit that adds
real value
Our audit approach begins long before fieldwork. We invest time understanding your business model, the industries you operate in, your risk environment, and the expectations of your stakeholders. This context allows us to focus audit effort where it genuinely matters — not on low-risk areas that absorb time without adding insight.
Every engagement is overseen directly by a partner with sector-specific experience. We work to ISA standards and IFRS reporting requirements, maintaining full independence and ICPAC regulatory compliance throughout.
We do not operate a rotation model that places junior staff on complex engagements. The professional you brief at the outset is the professional who signs the opinion.
- Risk-based planning tailored to your business model and sector
- Deep understanding of Cyprus regulatory and IFRS reporting requirements
- Direct communication — no account manager intermediaries
- Management letter with actionable internal control observations
- Coordination with group auditors for subsidiary engagements
- Experience auditing AIFM, AIF, CySEC-regulated and EMI entities
Entity types & sectors covered
Cyprus-registered trading entities, international holding companies, SPVs, and SPEs. Full IFRS statutory audit and annual return coordination.
CySEC-regulated investment firms, AIFMs, AIFs, EMIs, and CASPs. Full understanding of regulatory reporting requirements and CySEC audit trail expectations.
Component audits for multinational groups. We liaise professionally with group auditors, produce timely reporting packages, and ensure full ISA 600 compliance.
Licensed gaming operators, platform companies, and tech businesses — including those with Cyprus IP-holding structures. Deep understanding of royalty income flows and MGA/CySEC licensing requirements.
Property holding entities, development companies, and real estate investment structures. Complex revenue recognition, fair value assessments, and related party transaction reviews.
Law firms, consultancies, and professional service companies. Particular expertise in work-in-progress valuation, partnership structures, and professional indemnity compliance.
Selected anonymised engagement examples are provided for context only. Outcomes depend on each client’s facts, evidence, implementation, third-party decisions and the law in force; similar results are not guaranteed.
Representative engagements
The client operated a multi-entity iGaming structure with a Cyprus company receiving royalties from Malta operating companies for licensed gaming software. The prior auditor lacked understanding of IP Box nexus requirements and royalty flow accounting, creating regulatory risk ahead of an MGA licence renewal audit.
A UK-listed SaaS company required its Cyprus subsidiary — which held the group's core IP and employed the R&D team — to be audited to standards acceptable to its London-based group auditor. Previous local auditors had produced reporting packages that repeatedly required revision before acceptance.
How we conduct an audit
Deep-dive into your business, sector risks, internal controls, and prior year findings. We set materiality and design a focused audit programme.
Partner-supervised testing of key balances, transactions, and disclosures. Real-time communication on findings — no surprises at the end.
Senior partner sign-off on all working papers. Clearance of any outstanding points. Final financial statements reviewed and agreed.
Signed audit opinion and a practical management letter with prioritised observations — not boilerplate. Debrief meeting with management included.
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All enquiries are treated confidentially. Fixed-fee proposal where appropriate.
Senior attention for complex Cyprus mandates
G. Adamides Audit Ltd is an independent ICPAC-regulated firm in Nicosia. Engagements are led by experienced professionals and coordinated across audit, tax, accounting, corporate, valuation and financial reporting disciplines.
Partner-led
Direct senior involvement from scoping through delivery, with clear accountability and communication.
International focus
Experience with international groups, founders, HNWIs, technology, iGaming, fintech and complex cross-border structures.
Coordinated delivery
Corporate documents, accounting records, tax analysis and audit evidence are aligned rather than handled in isolation.
Practical questions, answered
Which Cyprus companies require a statutory audit?
The requirement depends on the Companies Law, audit legislation and any applicable exemptions or assurance alternatives. Regulated and larger entities generally remain subject to full statutory audit requirements.
Can you act as component auditor for an international group?
Yes. G. Adamides performs Cyprus component audits and reporting packages for overseas group auditors, including coordination under the relevant group-audit instructions.
Do you audit iGaming and crypto businesses?
Yes. The firm has experience with iGaming, technology, fintech and digital-asset businesses, including complex revenue flows, wallet evidence, platform data and cross-border structures.
How is the audit fee determined?
Fees depend on the entity’s size, transaction volume, complexity, reporting timetable, quality of records, group reporting requirements and regulatory risk.