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2015 Cyprus Transparency Report

2015 Cyprus Transparency Report

The 2015 Transparency Report describes in detail our strategy, structure, governance and systems of quality control as well as the financial results of KPMG in Cyprus.

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Managing Director

KPMG in Cyprus

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Cyprus Transparency Report

2015

The 2015 Transparency Report describes our strategy,structure, governance and systems of quality control. In the transparency report we also set out the financial results from our operations during what turned out to be another challenging year.

In 2014 we promised to stand next to our clients and employees and at the same time to take measures to reduce costs, maintaining at the same time efficiency and top quality of services. Cyprus Economy is gradualy improving and are pleased to note that our investment in developing our advisory services resulted in an impressive growth in 2015.

Our clients continued to respond positively to our firm, maintaining KPMG as the number one audit firm in Cyprus. Our determination in continuing our investment in talent and technology gives us confidence in, achieving our vision to be the clear choice in the professional services sector.

At KPMG we are committed to the role we play in serving the public interest with full understanding of the critical importanceof audit quality to the marketplace. Our aim continues to be the provision of high-quality audit services in an ethical and independent manner, recognizing this necessity particularly in the current economic climate.

At the same time we recognize the need to re-examine our own processes and procedures in view of the prevailing regulatory framework for the profession, having in mind the role we play in maintaining public trust in the capital markets.

Our tax team continues to promote Cyprus as an international investment and business center as well as examining the impact on our clients and our community of the Global trends regarding transparency and exchange of information in a changing international tax landscape.

Understanding the need to be a responsible business we appreciate the need for contribution to society at large and be brave enough to speak up and act upon issues that will make a real difference to the Cyprus society and economy,continuously reminding ourselves of our purpose which is to be the best firm for our clients, our people and ourcommunity.

KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative ("KPMG International") a Swiss entity. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG International Cooperative ("KPMG International") or KPMG member firms.

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