BDO Cyprus Transparency Report 2016

22 May 2017

This Transparency Report has been prepared in accordance with the provisions of article 48 of the Law of 2009 and 2013 on Statutory Audits of Annual and Consolidated Accounts. The provisions require the annual publication of certain information by statutory auditors that have issued an audit report on the annual financial statements of one or more public interest entities during the financial year.

Foreword

Our financial and operating performance during 2016 was strong. The firm achieved growth in revenues of 6% despite a challenging local economy and in the major markets with which we operate. We attribute this to our commitment in providing exceptional client service, investing in areas such as quality and technology and expanding our service capabilities to ensure that we meet our clients’ needs for the future. At BDO we understand that our people are our future. To excel as a firm our people must have the highest professional and interpersonal qualities and we as a firm invest to provide the necessary training and incentives for their personal development in an environment that promotes best ethical practices and technical excellence.