Search Results for: accountancy

ACCOUNTANTS may be the designated non-financial professionals controlled by AML/CFT laws best placed to know if a client is laundering money, given their access to complete financial records. And while Financial Action Task Force (FATF) recommendations do not lay down as comprehensive a duty on accountants as banks on lodging STRs (see https://www.fatf-gafi.org/media/fatf/documents/reports/RBA-Accounting-Profession.pdf…

ACCOUNTANTS may be the designated non-financial professionals controlled by AML/CFT laws best placed to know if a client is laundering money, given their access to complete financial records. And while Financial Action Task Force (FATF) recommendations do not lay down as comprehensive a duty on accountants as banks on lodging STRs (see https://www.fatf-gafi.org/media/fatf/documents/reports/RBA-Accounting-Profession.pdf…

Gosego Motsamai, the new managing partner and country manager at KPMG Botswana, has blazed a trail by being the first woman to secure such a post in a Big Four firm within this dynamic emerging market country.

With 23 years’ experience, Motsamai still brims with passion for the profession and often works late into the evening to ensure deadlines are met, a tidy habit she has developed from her early days as an accountant.…

Digital disruption has been transforming banking services worldwide, and Africa, with its important m-commerce sector, has been in the frontline of this change – a fact not lost on established bank executives, such as Samuel Fredrick Mwogeza, the chief financial officer of Stanbic Bank Uganda Ltd.…

TRADE-based money laundering (TBML) continues to be a complex typology that is tough for law enforcement to detect and ML regulators to control.

The risk is that with Iran being subject to new USA sanctions, the use of TBML is going to grow in the short term, warn experts.…

With their large financial services industries and open economies, the United Kingdom and the Republic of Ireland are conspicuously exposed to money laundering (ML) and terrorist financing (TF) risks.

Tough anti-money laundering (AML) and countering the financing of terrorism (CFT) policies are at the heart of their respective financial services regulations, yet both countries are regularly forced to fend off criticisms that they are not doing enough to tackle these problems.…

THE TOTAL value of frauds committed in the UK fell 64.7% to GBP746.3 million (USD994 million) in 2018, from a record GBP2.1 billion (USD2.8 billion) in 2017, accountancy advisory firm BDO LLP announced this week. But the company’s annual FraudTrack report*, released February 25, however, shows that despite this dramatic fall in value, the number of reported fraud cases in Britain only decreased 9% – from 577 to 525 – during this time.…

From climate change to digitalisation, there is no shortage of economic challenges facing the small island states of the Caribbean, but the region’s accounting sector has the capacity to manage upcoming change.

For many such financial professionals, being a part of ACCA – which this year will mark its 20^th in the region – is integral to progress.…

THE DYNAMIC east Asian powerhouses of Hong Kong and Singapore are both models for good practice in anti-money laundering/combating the financing of terrorism (AML/CFT) – sharing both an efficient and open UK-inspired legal system and a need for a clean image internationally that helps maintain their status as hubs of global trade and finance.…

AUDITORS have not received a good press in the area of combating financial fraud. Financial disasters involving fraudulent practices include the notorious collapses of Lehman Brothers and the HBOS bank. A New York attorney concluded in 2007 that “EY substantially assisted Lehman Brothers… to engage in a massive accounting fraud”.…