Hi Mike,
Not sure if this question was asked before, however it seems like we are missing half the topic with only money laundering being adressed in the syllabus. Maybe I missed it, however the other part that we should be aware of during the audit is terrorist financing, which should be a very current topic. Any thoughts on this?
Thanks!
A happy user of Opentuition
Ask the Tutor ACCA AAA
Anti Money Laundering
10y ago#1Ann, I don't see terrorist financing within the syllabus - at least it's not specifically mentioned!
However, insider dealing is in the lectures as also is Bribery, money laundering, fraud, even treason
Exactly which half are you referring to in "we are missing half the topic "?
Well Mike, the two are very often considered together, as one is hiding the source and the other one is hiding the destination of the cash. At least from audit perspective, this should be covered by background checks, check of significant fund destinations (in case these flow to "suspicious" countries) aso. From my end this should be included in the syllabus, as I mentioned above it's highly current as a topic and there is legislation in place - at least at European level - auditors need to comply with. Also if we look on the EU commission site, they are always mentioned together as prevention of Money Laundering and Terrorist Financing. But - if it's not in the syllabus - it's not in the syllabus :))
10y ago#3Maybe an email to ACCA and we could see it in there next year!
But you'll be an associate by then so too late for you!
Your words in Gods ear Mike!
10y ago#5I don't believe that I am close enough for me to be any influence upon Him!
Sign in to reply to this topic.