Audit Office of the Republic of Cyprus

The Fiscal Responsibility and Financial Framework Law (Law 20(I)/2014)

According to the provisions of the Law, the Auditor General has the following powers and responsibilities:

1. Audit of the financial statements of the Fiscal Council (article 32(3)).

2. Audit of the Financial Report prepared by the Accountant General (article 78(4)).

3. Audit of the financial statements that include all economic entities included in the Budget of the Republic and audit of the consolidated financial statements of the General Government prepared by the Accountant General (article 79(1)).

4. Audit of the financial statements of every General Government entity, Local Government Authority, State Agency and State Enterprise (Article 109(3)).

5. The Auditor General may also audit the annual reports submitted by economic entities to the Minister of Finance on the implementation of projects and the delivery of public-private partnerships under their responsibility, with regard to contractual obligations (article 88(4))).

Pursuant to article 81 of the Law, the Auditor General carries out the above audits, on the basis of internationally recognized auditing standards that he has selected and, for the purposes of the audit, has the right to access accounts, statements, returns and other information.







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