Programme Overview
 
This is an e-learning programme.

Upon successful registration and payment, you will be notified via email within 10-15 mins on your enrolment confirmation with user instructions to access this programme. 

Please complete all topics and sub-topics within the E-Learning courseware. The programme and assessment is valid for 6 months from the date of purchase.
 
Programme Objective
 

This e-learning course aims to familiarise professional accountants with their roles in the prevention of money laundering and financing of terrorism with regard to ISCA’s Ethics Pronouncement (EP) 200 Anti-Money Laundering and Countering the Financing of Terrorism – Requirements and Guidelines for Professional Accountants in Singapore.

EP 200 was last updated and effective on 1 July 2023. All ISCA members are required to comply with the requirements in the Pronouncement. Section 1 of ISCA’s EP 200 provides relevant guidelines for the Professional Accountants in Business (PAIBs).

The Professional Accountants in Public Practice (PAIPs) are required to comply with the following guidelines and rules:

• Section 1 and Section 2 of ISCA’s EP 200
• ACRA’s Accountants (Prevention of Money Laundering and Financing of Terrorism) Rules 2023 (the “ACRA Accountants Rules”)

Programme Outline

• What is money laundering?
• Three stages of money laundering
• What is financing of terrorism?
• Legal duty of all professional accountants
  • Reporting suspicious transactions
  • Avoid tipping-off
• Requirements that are applicable to the professional accountants in public practice and accounting entities:
• Compliance with the ACRA Accountants Rules in full for accounting entities that carry out specified activities
• Compliance with the ACRA Accountants Rules on a risk-sensitive basis for accounting entities that do not carry out specified activities
• Risk assessment of client’s money laundering/terrorism financing profile
  • Who are high risk clients
  • Politically exposed persons
• Performance of Customer Due Diligence (CDD)
  • Normal, Enhanced, Simplified CDD
• Screening of client
• Ongoing monitoring
• Record keeping
  • Retention period of records and records to be retained
• Training of employees
• Internal policies, procedures and controls
  • Implementation and operation
  • Regular assessment
  • Independent audit function to perform regular assessment
• Management arrangements to monitor compliance

 
Training Methodology
E-Learning (24/7) with interactive activities, knowledge checks and MCQ Assessment

No cancellation or change in programme enrolment once the enrolment is successful.

Click here for ISCA E-Learning User Guide.
 

Intended For

Intended for all professional accountants in Singapore

Competency Mapping

Category 2 = 2.50 Hours

Programme Facilitator(s)