Georghadji: EAC is not even a going concern
By George Psyllides
PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company.
Among other issues, Chrystalla Georghadji highlighted the EAC’s cash flow problem, the overdue electricity bills and the handsome employee allowances.
The auditor-general said she had been informed by the company’s director at the end of May that “following...
(Source: Cyprus Mail)
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