Honourable Minister of Health,
Honourable Members of Parliament,
Honourable Director General of the Ministry of Finance,
Honorable Mr. Chairman of the FCC,
Honorable Mr. Director General of the FCC,
Ladies and Gentlemen,
Over the years, the Cyprus Association of Certified Public Accountants has been an excellent partner and advisor to the state in the financial sector, so it is with great pleasure that I accepted the invitation to attend your 61st Annual General Meeting. Therefore, I would like to express my sincere thanks, on behalf of the entire legislature, to the ACFA for its contribution to Cyprus and the economy at large, through a long journey that has its origins in 1961, the year of its foundation.
Since then, as one of the most powerful Cypriot professional associations, it has actively participated in the economic life of the country, ensuring the development of the national economy and the promotion of the public interest, through high levels of professionalism, always in accordance with international standards.
Sixty-one years later, the Association continues to strengthen its members, providing the required knowledge, training, guidance and support, while remaining an indispensable and valuable partner of the State in accounting matters, promoting professional and ethical ideals. Recognizing this important role, the state has granted further powers to the ACA under Article 113 of the Auditors Law of 2017, as the only Cypriot body of accountants recognized by the Council of Ministers.
Dear Ladies/Dear Gentlemen,
The Cypriot economy has irrevocably suffered many blows, from the Turkish invasion of 1974 until recently with the international financial crisis. And in the last two years or more, the blow has been enormous due to the prolonged fiscal crisis, with the result that the economy's indicators have been tested, despite the implementation of generous government support measures for businesses and workers. In this organized governmental effort, you and the association were important helpers, providing the necessary facilities for understanding the relevant decrees and processing the applications of those affected.
At the same time, with the tumultuous geopolitical developments in the wider region and the uncertainty undermining the economic prospects not only of our country but internationally as a result of the war in Ukraine, the role of the accountant/bookkeeper is becoming increasingly important. It can provide solutions to key issues facing the state in general, being the link between the taxpayer and the state machinery. It must therefore operate with credibility, integrity and transparency.
By definition, the accounting profession covers a wide range of activities, which requires a high level of scientific competence, ability and the possibility of continuous development and flexibility in order to meet the changing requirements of the economy and the legal framework governing it. At this point I would like to stress the importance of the Code of Ethics as a prerequisite for the sound practice of the accounting profession.
Friends,
The technological and digital development that characterises our times, penetrating all sectors and aspects of society, creates a greater need for immediate and multi-level management and information, in relation to financial data, highlighting the accounting profession as one of the most promising of the future. As Johann Wolfgang von Goethe rightly pointed out, accounting 'is one of the most beautiful inventions of the human mind'.
As the House of Representatives, understanding the importance of the accounting profession and the contribution of the Association itself, as it plays an important role in the discussion of relevant bills and legislative proposals, we express once again our readiness to work within the scope of our competences, with the aim of formulating the best possible legislative arrangements for the further strengthening of the ACA, always for the benefit of the economy and the credibility of the state. The country must continue on a path of stability and growth, and you - through collective action - can unite the driving forces of the country...
I wish you every success in the work of your association's assembly.
(The text as sent by the House of Representatives)
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