Stavri Ttofa

Head of the Verifications and Certification Directorate, Treasury of Cyprus

Fellow Chartered Certified Accountant (FCCA), with a BSc Hons in Management Sciences and Masters in Public Sector Management with more than 20 years of progressive work experience as a leader in control, auditing and compliance, with a background in multiple industries, company sizes, and subject matter. A track record of success with both large and small teams, focusing on providing value-added results, growing talent, improving processes and adding to the end result. 8 years of hands-on experience in external audit and compliance followed by a further 14 years of experience in risk management, control and process improvement in public sector entities involved in the management of co-financed Programmes.
Diligent control of projects and schemes co-financed by the European Union Funds to ensure financial accountability, transparency and timely implementation, in accordance with relevant national and European Union Legislation and to prevent the loss of Funds through irregularities.
Fundamental role in the design of the Management and Control System for the Funds in Cyprus, through developing guidelines, providing the respective user requirements for the development of the Monitoring Information System and ensuring compliance with regulative requirements, training responsible officials of entities involved in the administration of the Funds and providing on-going assistance for the smooth implementation of the Operational Programmes.
Responsible for redesigning and simplifying the system of controls (including through the development of simplified cost option methodologies), reformulating the authorities involved in the management of Funds and the MIS to enhance flexibility and proportionality of available resources, speed up the delivery of the programmes by reducing the time lag between payments effected for project implementation and recovery of funds from the European Union and limit the administration costs.
Head of the Self-Assessment Team responsible for undertaking the fraud risk assessment exercise and development of the action plan with measures to mitigate the identified fraud risks.