In accordance with Article 35 of the Cyprus University of Technology Law, CUT prepares annual financial statements, which are audited by the Auditor General of the Republic of Cyprus. The Auditor General submits the audit report to the University Council and forwards copies to the Council of Ministers and the House of Representatives, ensuring institutional oversight and accountability.
In addition, CUT complies with Article 36 of the Law, which requires the submission of an Annual Report to the Council of Ministers. This report provides a comprehensive overview of the University’s activities during the previous academic year and includes key financial information, such as budgeted and actual income and expenditure.
Furthermore, the University ensures ongoing financial transparency and reporting through:
- Submission of annual fiscal data to the Ministry of Finance
- Regular reporting to the General Accounting Department of the Republic of Cyprus on the implementation of its budget
- Submission of monthly financial statements detailing income, expenditure, and financial obligations
The University’s annual budget law is also published in the Official Gazette of the Republic of Cyprus, ensuring public access to approved financial planning.
Audited financial statements are made available, with the most recent publicly accessible statements relating to the year ended 31 December 2021, while audits for subsequent years are in progress.