Cyprus - June 2007
PROFESSIONALISM AND ETHICS NETWORKING EVENT
Nicosia, Cyprus, June 2007
The ACCA Cyprus Professionalism and Ethics Networking Event, held at the Hilton Hotel, Nicosia, was an enjoyable and well attended evening.
Delegates (numbering just under 70) included ACCA members, representatives of the local accountancy body, the Institute of Certified Public Accountants of Cyprus (ICPAC), and local employers, including the Inland Revenue, the Auditor General’s office, PricewaterhouseCoopers, Deloittes, KPMG, Ernst & Young, and Grant Thornton. Speakers for the evening were Lazaros Lazarou, accountant general of the Republic of Cyprus, Brendan Murtagh, ACCA vice president, and Allen Blewitt, ACCA chief executive.
Cypriots consider hospitality as extremely important, and so the event provided an excellent opportunity for delegates to meet ACCA staff and the invited speakers. ACCA members particularly welcomed the opportunity to meet the chief executive and vice president, delighted that they had taken the time to visit Cyprus and attend the event.
'Ethics is not an option'
Speaking to delegates, Allen Blewitt underlined the importance of the evening’s key theme by stating that 'for a professional accountant, ethics is not an option'. Providing a Cypriot perspective, Lazaros Lazarou went on to detail some of the significant post-Enron initiatives undertaken by ICPAC. These included the adoption of the IFAC Code of Ethics for Professional Accountants in 2002; the introduction, in 2005, of an audit monitoring quality checked scheme for practising firms (now extended to all non-audit services); and the introduction, in 2006, of a CPD system based on the IFAC standard.
Lazarou believed that 'the accounting profession in Cyprus, demonstrating influence on relevant legal, business and stock exchange issues, has contributed significantly in developing the country as a successful and reputable international financial centre with a stable macroeconomic environment and an open, dynamic and adaptable economy'. He concluded that 'professional and ethical behaviour should be central in our (professional accountants’) professional careers'.
Brendan Murtagh, speaking on behalf of ACCA, said that the role of the profession was 'more central to business than ever - providing strategic and risk management advice to all parts of the organisation'. Brendan went on to demonstrate how ACCA ensures that 'our members are guided by ACCA’s fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour'.
In summary, Brendan stated that 'we (ACCA) seek to ensure that each ACCA member makes ‘a good accountant’ – and also ‘an accountant that’s good’'.