- and building bilateral collaborations with competent authorities from third countries while closely monitoring European and international developments concerning best practices in the audit profession and its oversight, aiming to enhance its policies and actions.
The CyPAOB continues to invest in improving its technical infrastructure and hiring qualified employees. Great importance is placed on the collaboration with other domestic supervisory authorities in Cyprus, as well as at the European and international levels, through memoranda of understanding and meetings to exchange information and views. Additionally, cooperation with professional bodies such as ICPAC (Institute of Certified Public Accountants of Cyprus) and Accountancy Europe enriches the CyPAOB’s knowledge and expertise in fulfilling its supervisory responsibilities.
A testament to the CyPAOB’s pursuit of contributing locally and internationally is the election of the CyPAOB’s General Director, Mr. Panos Prodromides, to the position of the President of the CEAOB for a four-year term starting from 12 July 2024, with the full support of the CyPAOB 's Board of Directors. I believe this reflects the trust that European institutions and member states place in the CyPAOB, recognizing its active and meaningful participation in European affairs thus far.
Fully aware of the responsibilities I bear as the President of the CyPAOB, I will continue to work alongside the Board of Directors to promote and advance the audit profession, benefiting both the profession as well as Cyprus as a reliable business centre. I am confident that the Board, the General Director, the staff and the inspectors of the CyPAOB, in collaboration with all stakeholders, will make every effort to achieve our common goals, with responsibility and independence.
Andreas Zachariades
President of the Cyprus Public Audit Oversight Board
September 2024