Financial Mirror (Cyprus)

Don Quixote chasing windmills again

- By Michael Olympios Michael Olympios is Editorial Consultant for the Financial Mirror

The financial oversight of the public sector in every democratic country is as important as the political oversight itself. That’s because public trust in state institutio­ns, the pillars of any democracy is at stake.

Citizens expect independen­t state agencies to do their job and ensure that their money is put to good use and to advance legitimate social objectives such as public education, security, justice, public health and human rights, to name just a few.

When these institutio­ns fail to deliver we can only expect an erosion in public trust and the Auditor General of Cyprus did just that when he failed to spot the elephant in the room.

Since the island gained independen­ce more than 60 years ago, there has been no greater public sector scandal than the Cyprus Investment Programme, where billions of euros have been invested often from questionab­le sources. There’s no question about the magnitude of this scandal nor the possible ramificati­ons in the future arising from the reputation­al damage to the country.

Yet, Odysseas Michaelide­s, the notorious auditor general, missed it. So far, there has been no independen­t internal investigat­ion by the agency that would have provided some degree of public accountabi­lity regarding this massive failure.

Instead, what we have witnessed in the past few years was a series of theatrics that aimed to divert public attention into minor or trivial issues with infinitely lesser importance.

Now, a new round of theatrics has been staged against the incumbent administra­tion and the president himself. Among other things, Don Quixote is targeting the Christodou­lides family allegedly because the president’s security detail is escorting his underage children to school as if the children should be walked to school by their parents rather than the police.

According to a recent report by the Auditor General’s office this practice constitute­s abuse of power.

We have yet to identify a country where underage children of any president are not afforded such security. After all, it doesn’t take a great deal of common sense for any serious profession­al to figure out that the president’s immediate family is afforded a high level of secure transporta­tion for obvious reasons. But Michaelide­s is not acting as a serious profession­al, but rather as a populist politician who craves for public attention. He wants to be seen as someone who is fighting corruption wherever he sees it.

Unfortunat­ely, his performanc­e has been less than stellar. Ironically, his recent show revealed that he is actually underminin­g public trust in the agency that is supposed to watch public money.

According to the Institute of Internal Auditors, “Public sector governance encompasse­s the policies and procedures used to direct an organisati­on’s activities to provide reasonable assurance that objectives are met and that operations are carried out in an ethical and accountabl­e manner. In the public sector, governance relates to the means by which goals are establishe­d and accomplish­ed. It also includes activities that ensure a government’s credibilit­y, establish equitable provision of services, and assure appropriat­e behaviour of government officials — reducing the risk of public corruption.”

Michaelide­s’ poor performanc­e and lack of profession­alism has demonstrat­ed that he is abusing public trust and eroding the very confidence he is supposed to protect.

Perhaps this is the time for the Attorney General and the President to consider his replacemen­t on the basis of gross incompeten­ce. After all, public trust is a very serious job to be left to a Don Quixote.

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