Key Compliance Signals from the Big Four: What Cyprus Organisations Should Watch

Four recent insights from the Cyprus arms of Deloitte, EY, KPMG and PwC capture a clear shift: governance is becoming compliance.

KPMG Cyprus, in its June 2025 analysis of the Central Bank Directive Κ.Δ.Π. 120/2025, emphasises new governance responsibilities: boards must oversee AML/CFT programmes, compliance officer functions must remain internal, annual AML reports are now mandatory and internal audit forms a core part of risk validation (KPMG).

PwC Cyprus, addressing the EU’s CSRD and its European Sustainability Reporting Standards, identifies the need to integrate ESG into corporate governance. Particular focus lies on board-reporting capabilities, data quality controls and embedding sustainability metrics into leadership processes ahead of mandatory implementation from 2026 (PwC).

EY Cyprus highlights the expansion in internal control and transparency requirements. In its recent commentary, the firm stresses that robust control frameworks and governance-driven process design are essential for mitigating fraud, misstatement risks and meeting upcoming assurance standards in regulated reporting (EY).

Deloitte Cyprus signals ongoing demand for tax transparency readiness, particularly aligned with DAC7 and digital platform regulation. The firm notes that Cyprus entities operating on digital platforms must establish identity verification, transaction monitoring, and reporting controls – elevating tax compliance into operational governance territory (Deloitte).

These collective perspectives deliver a unified message: compliance is no longer an isolated discipline. For Cyprus businesses, it now sits at the heart of governance, requiring structured reporting frameworks, board-level oversight and operational accountability.

What’s worth considering:

  • Elevating AML and sustainability leadership to the board level.
  • Designing control systems that link policy to execution and enable clear escalation.
  • Building reporting workflows into governance routines, not leaving them reactive.
  • Strengthening internal structures to meet evolving tax transparency expectations on digital platforms.

At OpiniQ, we help translate these developments into actionable governance frameworks – connecting regulation, control design, and strategic oversight. Our work supports business resilience through structure, consistency, and clarity.