ACCOUNTS PRODUCTION
AUTOMATION SYSTEM

Preparation of financial statements never been easier that using proAudit-V5.

Proadco PROAudit-5TM is a dynamic, user friendly, financial statements preparation software.

It enables on screen direct input of data as well as journal entries through its bookkeeping module.

The financial statements produced cover limited liability companies, sole traders and partnerships and they are in compliance with International Accounting Standard (IAS)-1 “presentation of financial statements”.

 

The financial statements incorporate the independent auditors report prepared in accordance with the requirements of the International Standards on Auditing (ISA) numbers 700,705,706,710,720 and the provisions of section 34 of the Auditors and Statutory Audits of Annual and consolidated accounts Law (N42(1) / 2009.

The set of financial statements is produced complete with all necessary, income tax and defense contribution, computation schedules together with detailed computation of capital allowances.

The software provides the capability to prepare, produce and print all necessary tax forms that need to be submitted to the Inland Revenue either by hand or via the TaxisNet system.

IAS-1
Compliance
“presentation of financial statements”

The information disclosed in the financial statements complies with the provisions of all relevant International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS), that are effective, and is continuously updated to take into account revisions and new issues of accounting standards.

Tax and defense computations are performed by the software automatically and they are in accordance with the income tax law and defense contribution laws and take into consideration all circulars and interpretations issued by the Cyprus Inland Revenue and they are continuously updated to comply with tax changes.