(Updates with new chairman’s comment in third paragraph)
By Stelios Orphanides
The members of the Institute of Certified Public Accountants of Cyprus (ICPAC), which supervises accounting firms, elected on Wednesday a new board chaired by Bank of Cyprus’s chief compliance officer Marios Skandalis, the group said.
Stavros Pantziaris and Maria Pastellopoulou were elected vice chairman and secretary, ICPAC said in an emailed statement on Thursday. The other board members include Andreas Andreou, outgoing president Demetris Vakis, Antonis Vasiliou, Christos Vasiliou, Carlos Zangoulos, Pieris Markou, Philippos Raptopoulos, Spyros Spyrou, Demetris Taxitaris, Nicos Chimarides and Odysseas Christodoulou.
The new chairman of ICPAC, which held its annual general meeting in Nicosia on Wednesday, said in an interview that the institute should “reaffirm on on-going basis its leading role in supporting, reforming and strengthening the economy of Cyprus, establishing it as the prime and most reliable financial services centre in the region”.
“In this way all of our members, both practicing and non-practicing, should feel proud of their Institute,” Skandalis said.
In his Wednesday speech, former chairman Vakis said that the group plans to strengthen its organisational structure by 2020 to render it more effective, strengthen its role and credibility, and support Cyprus’s economic recovery and its role as a credible business centre.