CPA Australia audiocast     Accountants must prepare early for AML compliance

Accountants must prepare early for AML compliance

The accounting profession faces greater regulatory responsibilities and costs with new anti-money laundering (AML) and counterterrorism financing legislation expected to pass federal parliament in 2019.

“Any proposed regime should be risk based,” says Paul Drum FCPA. “The ongoing compliance costs associated with extending all existing AML/CTF obligations on all members of the accounting profession significantly outweigh the risks.”

Because AML compliance is unlikely to go away, it’s important to be prepared for it.

Listen to the story.

Further resources

Read the original article on INTHEBLACK
CPA Australia resources on anti-money laundering reforms