Prominent Cypriot Businessmen Receive Fellowships From ICSA: The Governance Institute


ICSA: The Governance Institute, the qualifying and membership body for governance professionals, held its annual Graduation and Membership Ceremony on 25th May 2018 at Merchant Taylor’s Hall in London, where hundreds of guests marked this very special occasion.

The ceremony celebrated the success of new graduates of ICSA’s core qualifying scheme, as well as those qualifying in International Finance and Administration and other specialist governance qualifications offered by ICSA. It also recognised the achievements of those progressing to Associate and Fellow membership status.

Among those receiving recognition and accreditation from Cyprus were Theodoros Kringou, Managing Director of Infocredit Group, Marios M. Skandalis, Director of Group Compliance Division at the Bank of Cyprus and Kyriakos Iordanou, General Manager at the Institute of Certified Public Accountants of Cyprus (ICPAC), who all acquired Fellow (FCIS) status.

According to Simon Osborne, chief executive of ICSA:

We are delighted to welcome three such strong proponents of good governance to our ranks. Good governance is as important in Cyprus as elsewhere in the world and Theodoros, Marios and Kyriakos are prominent champions of the benefits that good governance can bring to businesses and other organisations in Cyprus. We welcome them to the ICSA family and look forward to working with them to help drive governance forward in the region.”

Theodoros Kringou, Managing Director of Infocredit Group says:

I am truly honoured to be awarded the title of an ICSA Fellow.

Corporate governance forms an integral part of a business and affects all its parts, from leadership to communication and strategy – more importantly though it forms the business’ operational framework and the way the board governs the company. Good governance is distinguished by its emphasis on transparency, accountability and trust. It is these values that I hope to promote personally as well as through Infocredit Group’s cooperation with ICSA.

Infocredit Group is committed to working closely with ICSA to help foster good governance and support its activities in Cyprus and the Middle East.”

Kyriakos Iordanou, General Manager at ICPAC adds:

Governance constitutes the underlying foundations for every corporation. Hence good and robust governance determines the robustness, soundness and culture of the corporation, shaping at the same time the ethical and behavioural environment. Governance is the framework for the effective achievement of corporate goals and carrying out business efficiently and, on the other hand it can also serve as a shield to threats and risks, through appropriate compliance and control mechanisms.

As a professional accountant myself, governance issues are highly correlated to my vocational activities and the ICSA qualification is a proof of ultimate quality and knowledge standards. Hence, by achieving the status of a Fellow Chartered Secretary and Administrator enables me to carry out my duties in a most comprehensive manner.

We as ICPAC are delighted to work with ICSA for the benefit for our members, by offering them various options for training, knowledge and qualification in corporate governance. I am confident that this cooperation will prove fruitful to all of us, and particularly to the economy in general through the application of best governance models and practices

Marios Skandalis, Director of Group Compliance Division at the Bank of Cyprus also comments:

 “The level of quality of a corporation’s governance is what determines the robustness of its cultural quality and consequently its operational effectiveness. 

How high this standard is set and how demanding the corporate governance benchmark will be, depends on the vision and values of its Board members and above all their ethos.

ICSA is the institution that provides structured guidance, advanced competency and globally recognized certification to institutions and their officers that aim to adhere to world class corporate governance standards and business ethos.

As Bank of Cyprus and its Board of Directors pursued such world class standards of corporate governance following the Bank’s successful listing at the London Stock Exchange, obtaining ICSA’s Fellow certification was the only way to successfully and sustainably address and ensure achievement of this objective.”


About Infocredit Group

Infocredit Group is the strategic partner of ICSA for Cyprus and the United Arab Emirates, promoting good practice as well as ICSA’s qualifications, and supports the interests of governance professionals in these regions. For more information on the core qualifying scheme or the International Finance and Administration (IFA) qualifications, please contact Infocredit Professional Education (training division of Infocredit Group) at [email protected].

Contact: +357 22 398000

[email protected]

About ICSA: The Governance Institute

ICSA: The Governance Institute is the professional body for governance. We have members in all sectors and are required by our Royal Charter to lead ‘effective governance and efficient administration of commerce, industry and public affairs’. With over 125 years’ experience, we work with regulators and policy makers to champion high standards of governance and provide qualifications, training and guidance.


Source: Accountancy Magazine, No 131, JUNE 2018, Page: 12,