Obligations for accountants
You'll learn the key obligations accountants and accounting firms must meet under money laundering legislation, and why reporting suspicions to the National Crime Agency is a non-negotiable legal requirement with no materiality threshold.
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In this lesson
- 0:00 Money Laundering Offences and Reporting Requirements
- 0:47 Firm-Level Compliance Obligations
- 2:27 Conducting Money Laundering Risk Assessments
- 3:29 Money Laundering Reporting Officer Role
- 4:11 Record Keeping and Documentation Requirements
- 5:00 Suspicious Activity Reports and Reporting Standards
About this lesson
This lesson covers individual responsibilities (avoiding statutory offences and mandatory reporting), firm-level controls (risk assessments, internal policies, and the role of the Money Laundering Reporting Officer), and practical procedures including client identification, record-keeping for five years post-engagement, and staff training. Understanding these obligations is essential for compliance across all ACCA and CIMA qualifications, particularly those covering ethics, regulation, and professional responsibilities.
Duration: 6m
Transcript
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