Nicosia: Deputy Minister to the President, Irene Piki, addressed the official launch of the Cyprus Institute of Directors and Corporate Governance (CY IoDCG) in Nicosia, highlighting the ongoing implementation of critical reforms in regulation, public administration, digitalisation, and sustainability.
According to Cyprus News Agency, Piki emphasized the impact of geopolitical crises, technological disruptions, climate challenges, and evolving social expectations on organizational operations. She stated that success in this environment relies on credibility, resilience, and long-term purpose, all rooted in strong governance. Piki noted that good governance fosters trust, enables strategic clarity, and allows organizations to responsibly embrace risk and exercise power within legal frameworks.
Piki also discussed the demanding role of directors and boards, who must exercise independent judgment, shape organizational culture, and demonstrate courage during challenging times. She emphasized the importance of ethical grounding, continuous learning, and responsibility toward stakeholders and society.
The Deputy Minister described the establishment of the CY IoDCG as timely and forward-looking, reflecting international best practices and societal aspirations through core values such as integrity, accountability, independence of judgment, professional excellence, transparency, and trust.
Piki stressed that good governance is indivisible and essential across corporations, public institutions, and society. She highlighted the government's focus on transparency, accountability, and institutional integrity, underscoring the implementation of a new governance model at the Presidency that includes the Secretariat for Coordination and Support of the Government Programme, the Annual National Programme and Accountability Framework, and the public accountability report delivered annually by the President.
She also highlighted significant structural reforms over the past three years, including modernization of the Audit Office, comprehensive reform of the Legal Service, strengthening the Anti-Corruption Authority, and reinforcing the internal audit system with the establishment of an Internal Audit Unit at the Presidency.
According to the Deputy Minister, the government has introduced comprehensive codes of ethics for ministers and public officials, alongside robust whistleblower protection and lobbying legislation, which form part of a broader framework for fostering integrity in public life. These efforts have been recognized in the European Commission's Rule of Law Reports and GRECO assessments.
Piki concluded by reiterating the government's commitment to ongoing reforms in regulation, public administration, digitalisation, and sustainability, driven by leadership with integrity and a long-term perspective. She called for partnership in strengthening governance and building a sustainable ecosystem that supports growth and trust.