audit office | Cyprus Mail

Audit office highlights inadequacies in insurance company control

Staff ReporterJuly 30, 2021

By Staff ReporterJuly 30, 20210116

Weaknesses and inadequacies in the way the Insurance Companies Control Service, the finance ministry’s supervisory authority for insurance firms, performed its duties, were highlighted in...

Cyprus

Audit chief sounds alarm over Okypy deficits

Staff ReporterJuly 2, 2021July 2, 2021

By Staff ReporterJuly 2, 2021July 2, 202101166

Auditor general Odysseas Michaelides on Thursday once again sounded the alarm over deficits of the state health services organisation (Okypy), prompting House watchdog committee president...

Cyprus Featured

Audit service denies failing to carry out passport probe

George PsyllidesJune 23, 2021June 23, 2021

By George PsyllidesJune 23, 2021June 23, 20210750

The audit service on Wednesday vehemently rejected suggestions by an inquiry that it had not done its job properly in 2016 as regards the controversial...

Cyprus Featured

Audit office flags dodgy financial practices at foreign ministry

Elias HazouJune 15, 2021

By Elias HazouJune 15, 202101574

The Audit Office has flagged a series of dodgy financial practices at the foreign ministry, among others homing in on one particular employee who showed...

Cyprus Featured

New twist as Audit Office plans to report passport probe team to the EU

Elias HazouJune 14, 2021June 14, 2021

By Elias HazouJune 14, 2021June 14, 202102067

In a further twist to the ‘golden passports’ affair, the Audit Office now plans to report the committee of inquiry – which just delivered its...

Cyprus

Govt ‘respects’ work of audit office, they should reciprocate, president says

Evie AndreouMay 19, 2021

By Evie AndreouMay 19, 20210446

The government does support the auditor-general but he ought to respect the work of other institutions, President Nicos Anastasiades said on Wednesday. He was commenting...

Cyprus

Coronavirus: audit office praises state’s procurement of rapid tests

Nick TheodoulouApril 22, 2021

By Nick TheodoulouApril 22, 202101007

The audit office has researched the government’s procurement of rapid tests and said it generally did a good job, considering the urgency of the situation....

Cyprus

Audit office finds shortcomings in health ministry’s payment procedures

George PsyllidesApril 20, 2021

By George PsyllidesApril 20, 20210463

The health ministry’s has serious shortcomings in its payment and audit procedures, which leads to waste of taxpayer money, an audit service report said Tuesday,...

Cyprus

Audit office doubles down on probing naturalisations

Evie AndreouApril 9, 2021

By Evie AndreouApril 9, 20210632

The audit office on Friday said it would further investigate the naturalisation of foreign investors approved by the cabinet after last August when stricter regulations...

Cyprus Featured

Olaf probe possible agrotourism scam after report from audit office

Staff ReporterMarch 31, 2021March 31, 2021

By Staff ReporterMarch 31, 2021March 31, 20210680

The auditor general has referred a case of possible abuse of an EU-sponsored programme to the EU anti-fraud office Olaf following a complaint that a...

Cyprus Featured

Benefits from film incentive scheme not proportional to payout, audit office says

George PsyllidesMarch 26, 2021March 26, 2021

By George PsyllidesMarch 26, 2021March 26, 20210572

The audit service has recommended reviewing certain key provisions of the film industry promotion scheme and ensuring all checks were carried out before payments were...

Cyprus Entertainment

Audit office says Cyprus Symphony Orchestra totally unregulated

Elias HazouMarch 23, 2021

By Elias HazouMarch 23, 20210478

The Cyprus Symphony Orchestra (CySO) is essentially operating unregulated despite being almost 100 per cent funded by the state, the Audit Office said on Tuesday....

Cyprus Featured

PEPs had substantial loan amounts written off (Updated)

George PsyllidesMarch 18, 2021March 18, 2021

By George PsyllidesMarch 18, 2021March 18, 202101167

Politically exposed persons (PEP) had substantial loan amounts written off or swapped debt for assets of lower value, among others, an audit into the entity...

Featured Opinion

Our View: Audit office is being petty about Napa land deal

CM: Our ViewMarch 2, 2021March 2, 2021

By CM: Our ViewMarch 2, 2021March 2, 202101005

In his report about the deputy ministry for tourism, auditor-general Odysseas Michaelides pointed out that the government had not followed the correct procedures for the...

Cyprus

Audit office raises questions of president’s link to marina investors

Staff ReporterFebruary 26, 2021February 26, 2021

By Staff ReporterFebruary 26, 2021February 26, 202101373

The audit office has raised questions over passports granted to investors involved in the Ayia MNapa marina, linking circumstance surrounding the investment to the president’s...

Cyprus Featured

Coronavirus: ministry denies that rapid test procurement process is flawed

George PsyllidesFebruary 18, 2021February 18, 2021

By George PsyllidesFebruary 18, 2021February 18, 202101947

The health ministry denied Thursday that procedures for the fast acquisition of rapid antigen tests were flawed, as the audit service launched a probe into...

Cyprus Featured

Audit office flags ‘irregular’ land deal for PV park

Elias HazouJanuary 28, 2021

By Elias HazouJanuary 28, 20210621

The audit office has flagged the leasing of an extensive expanse of state land to an entrepreneur for the purpose of building photovoltaic (PV) parks,...

Cyprus Featured

Audit office to probe pay hike for passports probe panel

George PsyllidesJanuary 19, 2021

By George PsyllidesJanuary 19, 202101181

The audit service said it will be probing a decision to raise the remuneration of a four-member panel investigating the citizenship by investment programme from...

Cyprus

Audit office calls for overhaul of law on election spending

George PsyllidesJanuary 15, 2021

By George PsyllidesJanuary 15, 20210314

The audit service called on the authorities to overhaul legislation concerning election expenses after certain contradictory provisions rendered party expenditure during in the run up...

Cyprus Featured

Government accuses audit boss of overstepping his powers (Update 2)

George PsyllidesDecember 30, 2020December 30, 2020

By George PsyllidesDecember 30, 2020December 30, 202002230

The government on Wednesday accused the auditor-general of overstepping his powers after he criticised the findings of three-member panel, which probed certain cases relating to...