Audit & Assurance


Financial Statements Audit

Financial statements audit plays a fundamental role in providing to key stakeholders the appropriate information for their business decisions. It is therefore crucial that they are offered the best possible reporting and an audit report to rely on.

Our firm with over 30 years of experience in the field will tailor made the audit for the needs of each individual client ensuring adherence and compliance with the relevant reporting framework and any regulatory/industry specific requirements.

At ITH, our audit team has significant experience in stand-alone audits as well as Group audits mainly under IFRSs and can help you to drive value from the audit, identify potential accounting deficiencies and inform and update accordingly relevant stakeholders using a proven worldwide famous methodology and deploying the latest auditing tools and perspectives.

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Accurate information is crucial for business decisions and business leaders need assurances beyond that provided by financial statement audits. The journey to success in an increasing regulated and complex environment along with the increasing demands from stakeholders can be difficult.

It can even be more difficult if you are concerned about systems and processes that could be inaccurate, or what risks to take. We at ITH can offer assurance services that can effectively assist your company to manage and deal with all regulatory requirements and challenging demands from your stakeholders. More specifically we offer the following services:

Who to Contact

Theodoros Theodoulou

Theodoros Theodoulou

Audit & Advisory

Theo is a director in the Audit and Advisory department of Ioannou & Theodoulou Ltd and he is also a non executive board member of the Cyprus Securities and Exchange Commission (CySEC) as well as the president of the Audit Committee of CySEC. He obtained his undergraduate at the Nottingham Business School in the degree of Finance, Accounting and Management and then joined Moore Stephens LLP (London) and became a qualified member of the ICAEW in November 2013. During his career in Moore Stephens he specialised in niche industries mainly focusing on shipping. Theo was also involved with the technical department of Moore Stephens offering training to newly joined trainees.

The audit portfolio Theo is dealing with currently at ITH involves a variety of industries from local SMEs to international Group of companies both on stand-alone and consolidated level audits.

In terms of advisory he has been involved in financial due diligence for mergers and acquisitions, advising clients with regards to cash flow budgets/forecasts and performing limited scope reviews on financial information for debt restructurings/new loan requirements of companies. He is also involved in projects for identifying operational processes inefficiencies and recommending necessary improvements. Furthermore  Theo is an expert in the UEFA/FIFA financial fair play and is also an excellent user of the SAP online portal system of UEFA offering advisory services to one of the biggest football clubs in Cyprus.

His technical experience at ITH includes the introduction and development of the audit methodology of the firm (CCH Audit Automation), ensuring compliance with the ICPAC cold reviews.

Outside of work, Theo is a passionate cook and loves travelling to experience new cultures and cuisines.



Telephone: +357 22050630

Gabriel Ioannou

Gabriel Ioannou

Audit and Tax

Strategic, analytical finance professional and results oriented Director of Ioannou & Theodoulou Limited, Gabriel has years of experience in the profession in both the UK and Cyprus.

Allocating his time between the audit and tax advisory departments, he is in a position to appreciate not only the commercial pressures but also the tax issues affecting clients thereby advising them accordingly. Most of his clientele entails SMEs and sole practitioners in various industries with potential issues discussed for both the business, as well as its owners as individuals based on their personal situation. Whilst working in the UK, he has gained substantial experience auditing non-for-profit organisations that fall under the Charities Commission and follow Charities SORP (Statement Of Recommended Practise).

He was on the forefront of the implementation and update of CCH Audit Automation methodology (audit software) to best fulfil the needs of the Cyprus market. He now trains professionals from other audit firms on the use of CCH tailoring it to best meet their needs.

He is a member of ICAEW (Institute of Chartered Accountants in England and Wales) and ICPAC (Institute of Certified Public Accountants of Cyprus) after obtaining his BSc in Accounting and Finance from the London School of Economics and Political Science (LSE). He is also a member of ICPAC’S Small and Medium Sized audit firms and serves as non-executive director in both public and private companies.

Outside of work, Gabriel is interested in sports and predominantly football and enjoys reading health related articles/books and travelling

Contact Info
Telephone: +357 22050530