In Cyprus, your financial statements are more than a tax attachment—they are your company’s global business card. With the 2026 Tax Reform and the introduction of Pillar Two, the complexity of IFRS compliance has reached a new peak.
CX Financia specializes in the preparation of full-disclosure International Financial Reporting Standards (IFRS) statements. As an ICPAC regulated firm, we ensure your accounts are transparent, compliant, and—most importantly—prepared to survive the most rigorous statutory audits.
Get Audit-Ready Statements
The IFRS 2026 Challenge: Beyond Basic Compliance
The shift toward global transparency means your statements must now account for new digital and regulatory realities:
- Pillar Two & QDMTT Disclosures: We prepare the complex notes required for multinational groups to disclose their 15% Global Minimum Tax status.
- IFRS 16 (Leases) & IFRS 9 (Financial Instruments): We manage the complex calculations for right-of-use assets and expected credit losses, areas where many small firms struggle.
- 8-Year Record Scrutiny: With the Tax Commissioner’s new powers to review eight years of statements, we ensure your historical data is mapped and archived digitally in the TFA-ready format.
- Substance-Linked Reporting: We ensure your financial notes accurately reflect your Cyprus Substance (payroll, assets, and management), which is vital for maintaining your tax residency status.
Our Financial Reporting Services
1. Statutory Financial Statements
Preparation of the complete set of accounts required by the Cyprus Registrar of Companies, including:
- Statement of Financial Position (Balance Sheet).
- Statement of Profit or Loss and Other Comprehensive Income.
- Statement of Changes in Equity and Cash Flow Statement.
2. “Audit-Ready” Preparation (Pre-Audit)
We act as the bridge between your bookkeeping and your auditor. By preparing the Audit File and lead schedules in advance, we reduce audit time, lower your external audit fees, and eliminate “year-end stress.”
3. Consolidated Group Reporting
For holding structures, we prepare complex Consolidated Financial Statements, eliminating inter-company transactions and ensuring the group’s global position is accurately presented under IFRS 10.
Comparison: Why Professional IFRS Preparation Matters
Local Authority for International Business
From the shipping and maritime hub of Limassol to the financial HQs of Nicosia and the logistics centers of Larnaca, CX Financia provides the high-level IFRS expertise that international investors demand.
Professional IFRS Reporting Starts Here
Frequently Asked Questions (FAQ)
Can you prepare statements if someone else does my bookkeeping?
Yes. We often act as the “Technical Layer.” You keep your daily bookkeeping, and we perform the IFRS adjustments and prepare the final statutory statements and audit file.
Do you provide the Audit as well?
As an ICPAC regulated firm, we have the expertise to oversee the process. However, to maintain Independence & Ethics, if we prepare your financial statements, we recommend a third-party auditor. We then manage the relationship with them to ensure a smooth process.
What is the deadline for filing IFRS statements in Cyprus?
Statutory accounts must generally be audited and filed with the Registrar of Companies as part of the Annual Return (HE32) within 18 months of incorporation and thereafter annually. For tax purposes, the IR4 is due by March 31st (Year +2).