Statutory audits and assurance reviews that give stakeholders confidence in your numbers. We tailor this service to property developers and construction companies, who face specific issues such as project cost tracking, vat recovery and reverse charge, off-plan sale revenue recognition. We work alongside the Cyprus Tax Department, Department of Lands and Surveys, Technical Chamber of Cyprus (ETEK) so your filings are accurate and on time.
What's included
- Statutory audit preparation
- Internal control reviews
- Agreed-upon procedures
- Due diligence support
Why property developers and construction companies choose us
- Specialist support with project cost tracking
- Specialist support with vat recovery and reverse charge
- Specialist support with off-plan sale revenue recognition
- Specialist support with bank and investor reporting
- Specialist support with contractor payments and withholding
Challenges you face, solutions we provide
Challenge: Project cost tracking
Our solution: Per-project cost centres with monthly cost-to-complete and margin reporting
Challenge: VAT recovery and reverse charge
Our solution: Reverse-charge VAT applied to every subcontractor invoice so penalties are avoided
Challenge: Off-plan sale revenue recognition
Our solution: IFRS 15 revenue recognition reviewed contract by contract and aligned with tax
Challenge: Bank and investor reporting
Our solution: Lender and investor reporting packs prepared accurately, every quarter
Challenge: Contractor payments and withholding
Our solution: Subcontractor vetting, retention accounting and Social Insurance compliance handled
Frequently asked questions
- Do you offer audit & assurance for property developers and construction companies?
- Yes. Tsquared delivers audit & assurance specifically for property developers and construction companies across Cyprus, on a clear fixed-fee basis.
- Is an audit mandatory in Cyprus?
- Yes. Cyprus limited companies, including dormant ones in most cases, must have their annual financial statements audited.
Related guides
← All Property Developers resources · Audit & Assurance overview