ACFE Cyprus has stated that their objectives are to play an important part in the effort to combat fraud in Cyprus. In efforts to promote training and spread knowledge to members, the chapter has said that they are the key component for preventing corruption and fraud in Cyprus.
The Internal Audit Director at the Bank of Cyprus Group, Georgos Zornas, evaluated the ACFE’s goals and objectives and stands to be the main supporter of the new initiative.
At the inaugural assembly, Zornas then went on to say that the chapter will strive to minimise incidents of fraud and deal with such cases. Additionally, it will aim to promote trust amongst the public through the professionalism of certified fraud examiners.
According to the PwC’s annual report, 42% of participating Cypriot entities had not carried out a fraud risk assessment. It also said that one in four, or 24%, of Cypriot organisations have no official ethics training plan.