FINANCIAL. Investigation Coordination. in Cyprus CONFERENCE. Re-enforcing the Anti-Fraud Infrastructure: Best Practice Initiatives

Transcription

1 FINANCIAL Investigation Coordination in Cyprus CONFERENCE FREE PARTICIPATION Registration is necessary Re-enforcing the Anti-Fraud Infrastructure: Best Practice Initiatives The conference is addressed to professionals from the following sectors: Accounting, Audit and Tax firms Law firms Police Customs Office Banks and other financial Institutes Online payment system companies Audit Office of the Republic of Cyprus Cyprus Security and Exchange Commission Directorate General for European Programmes, Coordination and Development Public Prosecutor Office Featuring Speakers David Clarke, Director of the Fraud Advisory Panel, UK David Marcus Nossen, LL. M. Eur., Policy Officer, European Anti-Fraud Office (OLAF) Gregoris Gregoriades, Director of Investigations Planning Directorate of Financial and Economic Crime Unit (S.D.O.E.), Greece Odysseas Ph. Michaelides, Auditor General of the Republic of Cyprus Thanos Alifantis, Principal Government Consultant - SAS Institute, UK Thursday, 8 December 2016 European University Cyprus Nicosia Organizers The conference is implemented with the support of Hercule III Programme:

2 Introduction The European University Cyprus, in collaboration with IMH, are implementing the European Programme Hercule III - Financial Investigation Coordination in Cyprus, supported by the European Anti-Fraud Office (OLAF) of the European Commission. The overall aim of the project, is to improve the coordination between all relevant and major stakeholders in combating fraud, through the creation of a common knowledge base and the development of a culture of cooperation and communication. Participating stakeholders were introduced into the inner workings of each other while exchanging their knowledge of anti-fraud prevention to further strengthen the fraud prevention ecosystem in Cyprus. More information regarding the project can be found at ficc.euc.ac.cy The Conference Re-enforcing the Anti-Fraud infrastructure: Best Practice Initiatives conference is the last part in a series of training sessions under the project Financial Investigation Coordination in Cyprus (FICC), funded by the Program Hercule III, European Anti-Fraud Office (OLAF). Major stakeholders, including the Cyprus Police Force, the Institute of Certified Public Accountants of Cyprus, the Audit Office of the Republic of Cyprus, the Internal Audit Service, the Ministry of Finance and the Securities and Exchange Commission were involved in the formation and execution of the seminars and conference as part of the stakeholders focus group that led the actions of the project. Audience The conference is addressed to professionals from the following sectors: Accounting, Audit and Tax firms Law firms Police Customs Office Banks and other financial Institutes Online payment system companies Audit Office of the Republic of Cyprus Cyprus Security and Exchange Commission Directorate General for European Programmes, Coordination and Development Public Prosecutor Office Conference Details Thursday, 8 December 2016, Cultural Center, European University Cyprus, Nicosia. The conference will be conducted in English. Interpretation in Greek will be provided. This event is supported by the European Union Programme Hercule III ( ). This programme is implemented by the European Commission. It was established to promote activities in the field of the protection of the financial interests of the European Union (for more information see: )

3 Programme 08:30-09:00 Registration 09:00-09:15 Chairman s Introduction Alexander Apostolides, Chair of the Department of Accounting Finance and Economics, European University Cyprus 09:15-09:30 Welcome Address Michael Stylianou, Political Analyst, European Commission Representation in Cyprus 09:30-09:50 Keynote Address: Olaf David Marcus Nossen, LL. M. Eur., Policy Officer, European Anti-Fraud Office (OLAF) Session 1: Current Cypriot Anti-fraud infrastructure 09:50 10:00 Current Cypriot Anti-fraud infrastructure: A case study Cyprus has moved rapidly in strengthening the anti-fraud infrastructure. Here we intend to show to what extent Cyprus has strengthened its infrastructure and suggest that, with greater coordination, it can move towards a more dynamic enforcement of anti-fraud policies. Alexander Apostolides, Chair of the Department of Accounting, Finance and Economics, European University Cyprus 10:00--10:15 Fraud in Public Sector The Role of SAI What are the factors that allow fraud to thrive and what negative effects does fraud have on the public sector and on society as a whole? Who has the primary responsibility for combating fraud and what is the Supreme Audit Institution s role in this respect? Odysseas Ph. Michaelides, Auditor General of the Republic, Audit Office of the Republic of Cyprus 10:15-11:15 Round Table: How to improve the Cypriot anti-fraud infrastructure Panelists: Anna Zavou Christoforou, Commissioner of Internal Audit of the Republic of Cyprus, Internal Audit Service Christoforos Mavrommatis, Superintendent B, Deputy Commader of Crime Combating Department, Cyprus Police Christos Christou, Customs Officer - Investigation Section, Customs and Excise Department, Member of OAFCN in Cyprus George Georgiou, VAT Officer A, Fraud Investigation Section, TAX Department, Cyprus Odysseas Ph. Michaelides, Auditor General of the Republic, Audit Office of the Republic of Cyprus Savvas Olympiou, Accountant, Treasury of the Republic of Cyprus Yiannis Pettemerides, Chairman of Economic Crime and Forensic Accounting Committee of the Institute of Certified Public Accountants of Cyprus Zena Agathocleous, Customs Officer, Department of Customs and Excise, Cyprus Panel Discussion Moderator: Marios Skandalis, FCCA, CFC, CFE, MICA Director, Group Compliance Division, Bank of Cyprus Group, Vice-President, ICPAC Executive Vice-Chairman, Transparency International (Cyprus) 11:15-11:30 Questions and Discussion 11:30-12:00 Coffee Break Session 2: Globalization of Fraud: how to keep up 12:00-12:20 Strength in unity Fraud, corruption and money laundering efforts will fail unless organisations work together to prevent and respond effectively. Identifying the threats and sharing information and best practice is vital to tackle the sophisticated global criminal who does not respect international borders. Independent expert challenge is needed on what is and should be done, and this is the remit of the Fraud Advisory Panel. David Clarke will share some examples of how the Fraud Advisory Panel has made a real difference in influencing and supporting change and how these can be applied in Cyprus and other States. David Clarke, Trustee Director, Fraud Advisory Panel, UK

4 12:20-12:45 Analytics for Fraud detection and tax compliance: Best Practice approaches Sponsored by The purpose of the presentation is to show how leading tax authorities across OECD have leveraged advanced analytics to improve fraud detection and voluntary compliance. Over the past decade the use of advanced analytics has had a pivotal role in the fight against financial crime in general and tax & benefits fraud in particular. The reliance on advanced analytics has opened new opportunities enabling tax authorities to maximise fraud detection as well as voluntary compliance through behavioral change. Leading tax authorities across OECD have shown that detecting and preventing tax evasion is entirely feasible once analytics are leveraged systematically, consistently and with the right - mature technology. Thanos Alifantis, Principal Government Consultant - SAS Institute, UK 12:45-13:00 Questions and Discussion 13:00-14:00 Lunch Session 3: Current issues in evaluation of Fraud 14:00-14:15 The case of Fraud in EU projects: Cyprus Stavri Ttofa, Accountant, Head of Verifications and Certification Directorate, Treasury of the Republic of Cyprus 14:15-14:30 The case of Fraud in EU projects: A Greek Perspective Gregoris Gregoriades, Director of Investigations Planning Directorate of Financial and Economic Crime Unit (S.D.O.E.), Greece 14:30-14:45 Investigation of Tax Fraud and changes in the Tax Department George Georgiou, VAT Officer A at the Fraud Investigation Section of the Cyprus Tax Department, will present and explain the collaborations and programs developed by the Tax Department for Combating Tax Fraud in Cyprus. George Georgiou, VAT Officer A, Fraud Investigation Section, TAX Department, Cyprus 14:45-15:00 The changing role of the Economic Crime Investigation Office in Combating Economic Crime Inspector Christos Christodoulou, Assistant Head Officer of Economic Crime Investigation Office of Cyprus Police, will present the organizational structure of the department, as well as explain the duties and responsibilities of the personnel in achieving their mission, and the relationship of the department with other functions. Christodoulou will also explain the need of the department for delivering better end results in fighting Economic Crime. Additionally, he will give examples of Economic Crime cases that the department is dealing with in Cyprus. Christos Christodoulou, Inspector, Assistant Director of Economic Crime Investigation Office, Cyprus Police 15:00-15:15 Questions and Discussion 15:15 15:30 Coffee Break Session 4: Financial Statement Fraud: Emerging issues and new approaches 15:45-16:00 Adoption of IFRS and potential cases of Fraud on a National Level The high degree of corruption, among other things, indicates the incorrect implementation of laws, weak enforcement of legal sanctions, existence of non-transparent economic transactions, and high level of fraud. Taking this into consideration, it is anticipated that the change in quality and especially in reliability resulting from the adoption of IFRS, does not depend solely on the standards itself. Alexis Kythreotis, Assistant Professor in Accounting, European University Cyprus 16:00-16:15 Questions and Discussion 16:15-16:45 Concluding Comments by the Chairman 16:45 End of Conference

5 Organizers European University Cyprus - EUC European University Cyprus - EUC is one of the leading institutions of higher education in Cyprus. It boasts a student enrollment of over 5,700 in undergraduate, graduate and doctorate degree programs. It is owned by the international university organization Laureate International Universities with more than 1,000,000 students enrolled on more than 200 campuses in 25 countries across Europe, the Americas, Asia, Africa and the Middle East. It is the first and only university in Cyprus and Greece to have been assessed by QS TOP UNIVERSITIES. It is included alongside the world s top universities, having been awarded 5 Stars at QS Stars University Ratings in Teaching, Facilities, Social Responsibility, Internationalization and Inclusiveness/Student Support. Following the successful QS Stars ranking, European University Cyprus received another distinction by the new European Commission international ranking system for universities, U-Multirank and was granted the highest ranking in Research and International Orientation. IMH IMH is the largest business knowledge and information transfer organization in Cyprus. Its services include the coordination and running of conferences, seminars and commercial exhibitions, specialist business media publishing and human resources consulting. Every year, IMH organizes more than 80 conferences to every sector of the market, commercial exhibitions and training seminars, and undertakes the entire process of five business awards ceremonies. IMH publishes the only dedicated business magazine in Cyprus: the Greek language month IN Business and the English-language monthly Gold, which are read by ten of thousands of Cypriot and non- Cypriot professionals, managers and entrepreneurs. It also operates the magazines accompanying news portals, the IN Business Portal ( the GOLD Portal ( and the ΡΕΠΟΡΤΕΡ Online ( ΙΜΗ also delivers via the IN Business Daily Newsletter, the GOLD News Daily Newsletter and the ΡΕΠΟΡΤΕΡ Newsletter. The IMH Business Development Department bids for tenders published by local public sector bodies, the European Union and other international organisations. Through its activities, ΙΜΗ gives businesses a chance to develop, to network, to find new clients and business associates, to communicate with new audiences and discover growth opportunities. The conference is implemented with the support of Hercule III Programme: European Anti-Fraud Office (OLAF) The European Anti-Fraud Office (OLAF) is the only EU body mandated to detect, investigate and stop fraud with EU funds. While it has an individual independent status in its investigative function, OLAF is also part of the European Commission.

6 FINANCIAL Investigation Coordination in Cyprus BOOKING FORM Thursday, 8 December 2016 European University Cyprus Nicosia Registration Deadline: Monday 5 December 2016 DELEGATE INFORMATION Company/Organization: Address: City: Postal Code: Telephone: Fax: Website: 1st Participation 2nd Participation 3rd Participation 4th Participation PERSONAL DATA PROTECTION Issues of personal data protection are very high in the priority of IMH Creative Solutions Consulting. All information and contact details that we receive are used only for the purpose of keeping you informed of forthcoming conferences, seminars, exhibitions, publications or providing electronic information which might be of interest to you. Such data is never used by other companies or organizations or for any other purpose. If you DO NOT like to receive information from our company, either by post or by electronic means please tick the box here: CONFERENCES: TERMS & CONDITIONS OF PARTICIPATION Confirmation of your registration will be sent as soon as possible once we have received your application in writing - either online or by fax or mail. Please note furthermore, that the organisers reserve the right to make changes to the details - though not to the substance - of the conference without prior warning, even if these do not appear in the programme because they occured after printing and due to unforeseen circumstances. They cannot be held responsible, however, for any consequential damage or loss. Finally, please note that an application to participate and an online registration are considered legally binding. PARTICIPATION FEE PER DELEGATΕ NO PARTICIPATION FEE Registration is essential CANCELLATION POLICY Cancellations must be made in writting 2 days prior the event. For further information contact: IMH, 5 Aigaleo Str., 2057 Strovolos, P.O.Box 21185, 1503, Nicosia, Cyprus Tel Fax , events@imhbusiness.com, website: