Confidence in Cyprus’s largest auditing firms declined slightly in 2026. According to an annual survey by the business portal StockWatch, the average rating for leading audit firms in October was 6.56 points, compared to 6.59 points a year earlier.
Five international audit networks operating in Cyprus participated in the survey: PwC, Deloitte, KPMG, EY, and Baker Tilly.
Despite a slight decline in the overall score, the top three remained unchanged. PwC took first place for the second year in a row, followed by Deloitte and KPMG. Meanwhile, the ratings for EY and KPMG rose, while PwC, Deloitte, and Baker Tilly lost some points.
The ranking is based on two criteria: how trustworthy respondents consider the firm to be and whether they would recommend it to others. Thus, the survey reflects both the level of trust and the willingness to positively recommend an audit firm.
PwC retained first place, while EY showed the greatest growth
PwC once again topped the ranking, receiving an average score of 6.85 points, compared to 6.95 in October 2025. The company’s reliability score was 7.1 points, compared to 7.2 a year earlier, while the willingness to recommend it to others was 6.6, compared to 6.7.
Deloitte remained in second place with an average rating of 6.8 points. A year earlier, the company received 6.9 points. Its reliability rating remains at 7.1 points, but the willingness to recommend the firm dropped from 6.7 to 6.5 points. The gap between the two leaders is just 0.05 points.
KPMG retained third place, improving its average score from 6.7 to 6.75 points. Its reliability rating rose from 6.9 to 7.1 points, but the willingness to recommend the firm declined slightly—from 6.5 to 6.4 points.
By the end of 2026, KPMG had returned to the level it had shown in October 2024. The gap with Deloitte narrowed to 0.05 points, whereas a year earlier it had been 0.2 points.
Ernst & Young (EY) showed the most notable growth among the five firms. Its average rating increased from 6.25 to 6.5 points, or by 0.25 points.
EY’s reliability score rose from 6.5 to 6.7 points, and the willingness to recommend the firm increased from 6 to 6.3 points. Despite the improved results, EY remained in fourth place. However, its current rating is already higher than its 2024 score, when it stood at 6.3 points.
Baker Tilly suffered the greatest decline; its overall rating remains below the 2022 level
Baker Tilly ranks fifth. In October 2026, the company received an average rating of 5.9 points, compared to 6.15 a year earlier. The 0.25-point decline was the most significant among the five companies in the ranking.
The main reason was a decline in the reliability rating: the score fell from 6.5 to 6 points. At the same time, respondents’ willingness to recommend the company remained unchanged at 5.8 points. Despite the decline, Baker Tilly’s score remains higher than its 2024 rating of 5.65 points.
How Trust in Auditors Has Changed in Recent Years
The average rating for Cyprus’s five largest audit firms in October 2026 was 6.56 points. This is 0.03 points lower than in 2025, when the rating stood at 6.59 points. For comparison:
2022 — 7.08 points;
2023 — 6.74 points;
2024 — 6.39 points;
2025 — 6.59 points;
2026 — 6.56 points.
Thus, following a noticeable decline in 2023–2024, trust in audit firms partially recovered in 2025. However, in 2026, the positive trend came to a halt: the average rating decreased slightly.
That said, the current result remains higher than the 2024 level but is noticeably lower than the figures for 2022 and 2023.