Increased enforcement by FIC means compliance is not just a tick-box
Think FIC compliance is just admin? Think again. Audits are up, penalties are real, and ignoring the rules could cost you more than just money. But here’s the kicker, get ahead of the game and you can turn this “headache” into a high-value service your clients will actually pay for. Here's how to make FIC compliance work for your practice, not against it.
Accounting Practices as Accountable Institutions: Building an RMCP and Applying a Risk-Based Approach
When an accounting practice is registered with the Financial Intelligence Centre (FIC), it plays a crucial role in safeguarding the financial system against money laundering, terrorist financing, and other financial crimes. This article explains the responsibilities of implementing a risk based approach with practical guidance on the specific risks accountants may encounter.
Accountants as Accountable Institutions - What You Need to Know
Do accountants fall under accountable institutions? There has been much uncertainty regarding when an accounting practice must register with the FIC. At the end, if your business must register you have act now. In this article we explain the FIC’s registration and reporting requirements in a practical way.