Panos Prodromides elected Chairman of EU audit oversight committee

Panos Prodromides, Director General of the Cyprus Public Audit Oversight Board (CyPAOB), has been elected Chairman of the Committee of European Auditing Oversight Bodies (CEAOB) for a four-year term.

Posting on LinkedIn, CyPAOB congratulated Prodromides on his election and wished him every success in his new role. “CyPAOB will fully support Mr Prodromides in order to achieve the goals set,” it said, adding that it was confident that he “has the relevant experience, expertise and comprehensive vision for the future of CEAOB and will work with dedication and commitment to achieve the strategic objectives of CEAOB and enhance its mission”.

CEAOB is the framework for co-operation between national audit oversight bodies at EU level. Its role is to strengthen EU-wide audit oversight, which is a key objective of the new EU legislation on statutory audit that took effect on 17 June 2016.

It comprises representatives of the national audit oversight bodies of the EU and the European Securities and Markets Authority (ESMA). Representatives of the national audit authorities of the European Economic Area also participate. The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) are observers.

The Cyprus Public Audit Oversight Board serves as the regulatory authority overseeing the audit profession in Cyprus.

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