Accountants’ association joins national effort to equip students with smart money skills

The Institute of Certified Public Accountants of Cyprus (ICPAC) took an active role in supporting Global Money Week (GMW), an annual initiative promoting financial literacy among young people across the world.

This year’s campaign, themed “Think before you follow, wise money tomorrow,” was held across secondary schools throughout Cyprus and aimed to instil responsible financial behaviour in the next generation.

According to an announcement released this week, ICPAC’s involvement included the organisation of presentations and lectures delivered to secondary schools across the island.

The association’s efforts were coordinated through its education and development department in partnership with professionals from major accounting and audit firms.

The content focused on the theme, “The role of the Professional Accountant in a country’s financial well-being.”

These sessions introduced students to the modern functions of the accounting and auditing profession, highlighting its pillars, various career paths, and the profession’s ability to adapt to legislative reforms and the ever-evolving digital reality.

The talks also stressed the significance of professional judgement in the work of accountants and auditors.

ICPAC’s work formed part of a wider collaboration involving the Ministry of Education, the Inspectorate of Economics, and the Cyprus Financial Literacy and Education Committee (CyFLEC), of which ICPAC is a stakeholder.

The initiative targeted lower and upper secondary schools, as well as technical institutions, with the goal of guiding students toward informed financial decision-making and equipping them with the knowledge and skills required for rational money management.

As the financial environment becomes increasingly digital and influenced by artificial intelligence, the organisers emphasised that young people now need “a solid foundation of knowledge, access to accurate information, and sharpened critical thinking skills” more than ever before.

These qualities, they noted, “are essential to navigating the complexity of today’s financial world”.

“The proper training of young people and their readiness to handle potential financial risks must be a top priority in modern education and innovative learning approaches,” ICPAC stated.

“Enhancing financial literacy promotes, in turn, the financial well-being of a society and a country as a whole,” it added.

The association also said that “the financial education of students, youth, and citizens more broadly, is fundamental to achieving sustainable development and ensuring economic stability”.

“ICPAC listens to the needs of society and, in the context of its own activities and strategic goals, places the strengthening and cultivation of financial literacy as a top priority,” the statement concluded.