Legal Framework

The Auditors Law of 2017 N53(I)2017 is the legislation according to which the CyPAOB exercises its powers since the 2nd of June 2017, and according to which the CyPAOB was designated as the competent authority for the purposes of the Law. More specifically, under article 4 of the Law, a legal person of public law under the name “Cyprus Public Audit Oversight Board” is designated to be the competent authority, which shall exercise the powers, duties and responsibilities arising from the provisions of this Law through its bodies, namely the Board of Directors and the Disciplinary Committee.

The Auditors Law - Full TEXT - ENGLISH

Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC (Text with EEA relevance)Text with EEA relevance

DIRECTIVE 2014/56/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 April 2014 amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts

DIRECTIVE (EU) 2022/2464 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 14 December 2022 amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting

DIRECTIVE 2013/34/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (Text with EEA relevance)

The Companies Law (CHAP. 113)

The prevention and suppression of money laundering and terrorist financing laws of 2007 (Law 188(I)/2007)

The Protection of Persons who Report Breaches of Union and National Law of 2022 [Law 6(I)/2022]

The Transparency in Public Decision-Making Processes and Related Matters Law of 2022 (Law 20(I)/2022)

The Constitution of the Republic of Cyprus (Constitution)

* For up-to-date information regarding amendments to the above legislation, please refer to the websites of the relevant authorities