A number of reports about misappropriation of public funds made against the Cyprus Institute have prompted the Audit Office to launch investigations, Philenews reported on Saturday.
At the same time, these actions are primarily being attributed to a specific official of the research and educational institution who seems to be in charge of distribution of funds.
Specifically, informed sources have said that since the beginning of last November Audit Service officers have been conducting an on-site audit.
And that access to data concerning financial management has already been requested.
The Audit Office only confirmed that the Institute is being audited and confirmed of the existence of a number of mismanagement reports.
The fact, however, that the investigation by the Audit Office has been “ongoing” for at least a month with officers physically present at the Institute says a lot.
To start with, the reports made cannot be underestimated and deserve appropriate investigation, an insider also said.
