How should your Board respond to allegations of fraud, bribery and corruption?
The breadth of work, the high specialisation in various activity sectors and the international prospect of PricewaterhouseCoopers, are attributes that their clients and associates evaluate positively. PwC invests considerably in resources to build and share these attributes. Their people possess the knowledge, abilities and specialisation for providing advisory services on issues of the world market that modern enterprises face. The central philosophy of PricewaterhouseCoopers’ efforts is the support of their customers with professionalism, reliability and integrity.
In this context, PricewaterhouseCoopers Cyprus presented on Thursday, 3 April 2008 at Hilton Cyprus, a 30 minute movie drama "Risking it All", produced by PricewaterhouseCoopers, in an exclusive first screening.
In line with the new EU 8th Company Law Directive, the film considers the consequences of fraud being detected in a public company and is addressed to listed company Directors, Audit Committee Members, Supervisory Boards and Senior Executives aiming to help them understand their obligations and the importance of reacting promptly and properly to any evidence of illegal activity.Following the screening of the movie, a panel discussion took place with experts on the subject, including representatives of local regulatory authorities who addressed the subject from their authority’s perspective:
- George Charalambous – Chairman, Securities and Exchange Commission
- George Koufaris - Chairman, Cyprus Stock Exchange
- Christos Mavrellis - Senior Partner, Chrysses Demetriades & CO
- Duncan Wiggetts, PricewaterhouseCoopers Eurofirms Assurance Legal Counsel and Vice-Chair of the International Bar Association Corporate Counsel Forum
- Neil Gerrard - Partner in the international law firm DLA Piper, Head EMEA of DLA’s Government and Regulatory Affairs Group
- Chris Santis - Assurance Leader, PricewaterhouseCoopers Cyprus.
In his introductory speech, Mr Dinos Papadopoulos, Deputy Managing Partner of PricewaterhouseCoopers Cyprus noted that "The internationalisation of enterprises, the multiplication and the complexity of actions and systems, the rapid growth of technology and the pressure for high performance, are strong factors that give the possibility and increase the occasions of perpetration of fraud. The continuous exposure of companies in such dangers, imposes in their managerial executives to ensure that they allocate programs of control and effective protection from such phenomena."
