Topics covered by speakers at the event included the competitiveness of local professional service providers, the attractiveness of Cyprus’ offering in the global market, the future of professional services providers and the need for a new business model that will enable the professional services industry in Cyprus to continue to flourish.  

The event was attended by senior executives from, among others, accounting, audit, tax and law firms, business consulting firms as well as banks and other financial services institutions.

Stavros Pantzaris, EY Cyprus Chairman, participated in a panel discussion on the topic: The tax and accounting profession at a crossroad: A new service model for international business. Mr. Pantzaris focused on the top five priorities and challenges business organisations face today and the new service opportunities these create for professional services providers.   

Andria Koukounis, Director, Financial Services, Funds and Capital Markets, Prountzos & Prountzos LLC – EY Law, took part in a panel discussion on The future of the Cyprus investment funds sector, focusing on how to manage Cyprus’ latest reputational risk and restore its global business image. 

Commenting on the event, Stavros Pantzaris noted: “The professional services sector and its multiple stakeholders, including accounting, audit, tax and law firms, has developed over the years into a key pillar of the Cyprus economy. The emerging economic, social, regulatory and technological trends as well as the growing investor and stakeholder demands do create new challenges for business organisations but also new service opportunities for professionals engaged in this sector. In order to continue to grow and serve its clients, the sector needs to develop a new business model while exploring new business opportunities, new geographical markets and revenue streams.”