Financial Services: All more accounting firms in Cyprus are expanding the scope of services they offer to clients to include other financial services which comprises wealth management, investment, technology consulting, sustainability business services and much more.
With the alteration of the worldwide business environment and the transition of the accountancy profession to a digitized sphere, with cyber security threats, larger competition, globalization, technology evolution, different needs arise for businesses.
The general term “Financial services” includes most commonly but not limited to below types of services:
- Banking
- Professional Advisory
- Wealth management
- Funds
- Insurance
- Stock markets
- Treasury
- Tax/audit consulting
Many accounting firms in Cyprus and most particularly international financial service providers do not limit their services to accounting, Bookkeeping, Audit Tax and VAT services. A vast majority deal with various clients helping theme with other matters such drafting due diligence on investments, delivering valuation services, assisting in real estate activities, providing advice in regulatory compliance, setting- up and licensing of local investment firms etc.
A common type of financial service is banking and finance disputes resolution which encompasses the management of conflicts relating to the validity and execution of banking and financial operations. Educated staff deal with all stages of a conflict, risk valuation, management of a crisis, settlement of conflicts and related court proceedings. Debt collection and security enforcement cases are part of our everyday work and include attaining judgments, freezing or other interlocutory orders and taking the necessary enforcement or execution measures to collect the debt.
Financial services also enroll guidance in reducing operating costs, achieving a more transparent corporate structure, dissolving inactive companies. In such cases licensed insolvency practitioners provide autonomous advice on alternative methods of dissolution, the related risks. Whatever a company decided to do the highly professional and skilled personnel can guarantee allow a smooth transition process for your organisation.
Many of above provided services required legal know-how therefore all more accounting firms include legal practitioners to their staff.
Finally, financial services, consultancy and other advisory services gets all more important for business to survive, reshape and evolve in order to grab the opportunities that arise.
