Is an audit of my company mandatory in Cyprus?

According to the Companies Law in Cyprus (Cap. 113), Cyprus companies conducting business activities within the country have to prepare Financial Statements based on the International Financial Reporting Standards (IFRS). These statements have to be audited by registered auditors in Cyprus.

A company established after June 30th of a year is not mandatory to conduct an audit for a short period of fewer than six months. The auditor will conduct the audit for up to 18 months until the end of the following calendar year.