• Definition of money laundering
  
• How does money laundering effect the accounting profession

• Specific reference to services provided
  

• What constitutes a money laundering offence i.r.

• POCA
  

• Outline of FICA sections
  
• Duties of accountable institutions
  

• Risk Management and compliance program (RMCP)
  
• Implementing a Risk Based Approach
  
• Different services provided and their risks
  
• Risk assessment rating for each category
  
• Customer due diligence procedures for natural persons, legal persons, partnerships and trusts
  
• Identifying the beneficial owners of legal entities and trusts and the new reporting requirement
  
• Scrutinizing clients against the UNCS and Targeted Financial Sanctions Lists (TFS)
  
• Freezing of assets and implementing financial sanctions when applicable
  
• Dealing with Domestic and Foreign Politically Exposed Persons (DPEP and FPEP)
  
• Reporting to the FIC and sharing information
  
• Suspicious transaction reporting
  
• Cash transaction reporting
• Reports on Terrorist activity (POCDATARA)
  
• Appointment and duties of the compliance/reporting officer
  
• Training requirements for all employees
  
• Screening of employees
  

• Reports on bribery, extortion or fraud (PRECCA)
  
• Enforcement
• Non-compliance and penalties
  
• Reporting requirements when performing an audit, independent review or tax services.
• What will you report and who will you report to
  

• Suspicious transaction to FIC
  
• RI to IRBA
  
• RI to CIPC
  

• How will confidentiality and client privilege affect your reporting responsibilities?
  

All partners and compliance/reporting officers of accounting and auditing firms