There have been significant changes to the AML landscape in the last 12 months and further changes are expected very soon with the implementation of the 5th and 6th EU Directives. These changes will place increased onus on firms to fulfil their requirements from an AML perspective.
AML compliance is also of greater emphasis and focus in monitoring visits with the Accountancy Bodies taking a tougher approach to AML compliance, so being compliant is expected and knowing the changes will ensure that you remain compliant.
This session will provide an overview of AML, the changes that have happened to date and what’s coming down the tracks and will cover;
- Applicable Legislation
- What is Money Laundering?
- Who Are Designated Persons
- Money Laundering for Accountants – What is Required
- Key weaknesses in AML
Online CPD Course Facilitators
Colm Owens: Practice Support Executive, OmniPro
As a members of our Practice Support team, Colm’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.
Colm brings a unique insight into the whole area of monitoring and compliance having spent the last 6 years as a quality reviewer with Chartered Accountants Ireland. In that role he has visited firms of differing sizes all over the country which has given him an insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession. He has gained up-to-date knowledge of audit, accounting, money laundering and regulatory compliance issues relevant to the profession and knowledge of current audit methodologies.
Prior to his time with Chartered Accountants Ireland, Colm’s roles included Audit Manager with Anne Brady McQuillans and Brophy Gillespie, both in Dublin, where he worked with a range of clients from small owner-managed businesses through to larger audit clients.
Mike O’Halloran: Practice Support Executive, OmniPro
Mike, a member of our Practice Support team, is a qualified Chartered Accountant and Chartered Tax Advisor. He is responsible for carrying out hot file reviews, cold file reviews, annual compliance reviews, in-house training & supporting firms on a day to day basis.
Formerly a quality reviewer with Chartered Accountants Ireland, this role saw him visiting firms of various sizes across Ireland conducting audit, non-audit and anti-money laundering visits. Prior to this he spent 12 years working in small and medium sized practices. In these roles, Mike has gained a comprehensive knowledge of the profession and has worked with a broad range of clients across many industries.