Cyprus audit oversight authority investigates Deloitte's role in Abramovich case

The Cyprus Public Audit Oversight Authority (PAOA) is currently gathering and evaluating evidence regarding the involvement of Deloitte Cyprus in the activities of Roman Abramovich, following a recent BBC investigation. Panos Prodromitis, Director General of the PAOA, stated that while the authority lacks the legal mandate to investigate matters occurring prior to its establishment in 2017, it is compelled to review the facts to provide necessary explanations at the European level.

During a session of the Parliamentary Committee on Institutions held on Wednesday, PAOA President Andreas Zachariadis confirmed that the Authority has initiated contact with Deloitte. The audit firm has provided its own interpretations of events that reportedly took place between 2003 and 2006. Zachariadis noted the difficulties in obtaining historical data from the firm but confirmed that Deloitte has committed to providing any further evidence as it becomes available. The investigation remains in the preliminary stage of information collection as the authority prepares to address the implications of the BBC report on a continental scale.