For decades, the professional services sector has been one of the defining pillars of the Cypriot economy. Legal, tax, audit, corporate administration, fiduciary and advisory services have not merely supported business activity — they have been integral to Cyprus’ international business model and its position as a regional hub for investment and cross-border structuring. Today,…
Emeritus Professor Joe Nellis is economic adviser at MHA, the accountancy and advisory firm. The latest Eurozone figures tell a worrying story: modest growth, rising inflation and a fresh energy shock that could derail an already fragile recovery. The Eurozone economy expanded by only 0.1% in the first quarter of 2026. While that keeps the…
After years of working alongside healthcare providers and medical groups, one reality stands out, IFRS 9 is rarely as straightforward in practice as it appears in theory. What is often viewed as a standard credit risk exercise quickly becomes more complex once it is applied to the day-to-day dynamics of the healthcare sector. Unlike many…
Craig McSherry, Partner at MHA, the UK member firm of the global Baker Tilly accountancy and consulting network discusses the key points of the Bank of England/Prudential Regulation Authority supervision priorities for International Banks in 2026: The PRA’s 2026 priorities for international banks and investment firms are designed to ensure safety and soundness amidst an…
Dear Partners, We would like to inform you that e-EFKA Circular No. 5/2026 has been published, providing for an adjustment to the maximum insurable earnings ceiling and to the amounts of insurance contribution categories for salaried lawyers, public sector lawyers, salaried engineers, and healthcare professionals, effective as of 1 January 2026. In summary, the main…
Savvas Klitou, Regional Managing Partner and Head of Tax Services at Baker Tilly, analyses the weaknesses exposed by recent crises, the strategic challenges beyond 2025, and the new directions required for the Professional Services sector to achieve sustainable growth. FIVEFOLD RESILIENCE WITH AN EMPHASIS ON STRUCTURAL CHANGE Climate change is increasingly burdening the global…
Under the Corporate Sustainability Reporting Directive (CSRD), listed companies with more than 500 employees are required to report on their ESG impacts, risks, opportunities, policies, and performance starting from the 2024 financial year. The ‘first wave’ of reporters includes shipping companies from across the EU, who revealed how sustainability shapes the sector. We analyzed the…