Overview:
ACCA conducts AML compliance reviews in order to ensure that those it supervises are operating to standards compliant with the AML laws and regulations in Ireland. This protects the firm itself from being exploited by criminals, and ultimately helps protect society from the impacts of money laundering.
It is the responsibility of the ACCA as a Prescribed Accountancy Body (PAB) to carry out AML supervision in the Republic of Ireland under the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2010 to 2021.
ACCA automatically supervises firms for AML as long as there is one or more ACCA members who hold an ACCA practising certificate with a combined majority control over the firm. ACCA also supervises sole practitioners who hold an ACCA practising certificate.
Key Features of the Course:
This CPD session will cover:
- The key themes arising from recent AML supervisory inspections;
- The Firm-Wide Money Laundering Risk Assessment;
- AML Policies and Procedures;
- Client Risk Assessment Processes;
- Client Due Diligence (CDD), Sanctions and Beneficial Ownership checks;
- The firm’s process for identifying and reporting suspicious transactions - STRs (Suspicious Transaction Reports);
- AML training provided to the firm’s employees;
- Record-keeping systems, procedures and controls;
- Resources available on the ACCA website for members to help them implement appropriate controls.
Speaker:
John McCarthy
FCA, AITI, Dip. IFRS , Dip. Insolvency, Certificate in UK and Irish GAA
John is a regular speaker on accounting and audit compliance, anti-money laundering (AML) reviews and training, audit cold and hot file reviews, and audit/accounting technical matters.
He has extensive experience in the provision of technical and strategic support to practicing accountants in Ireland.
John has spoken at seminars and conferences for Chartered Accountants Ireland (CAI), the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA), the Cork Society of Chartered Accountants, Members in Practice Committee in Ireland.
John is a member of Chartered Accountants Ireland (CAI) and of the Institute of Chartered Accountants in England and Wales (ICAEW).
He participates in a technical group with UK accountancy experts, consultants and trainers with a like-minded interest in technical accounting/auditing matters that meets regularly to discuss the latest developments in the profession.