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Accounting and Corporate Regulatory Authority
Press release

Professional Accountants to strengthen measures against money laundering and financing of terrorism

Audience

Accountants

Accounting entities

News Topic

Accounting standards and sector regulation

Regulatory updates

29 October 2014

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

With effect from 1 November 2014, professional accountants, including public accountants will need to abide by enhanced mandatory requirements on implementing controls and procedures for anti-money laundering (AML) and countering the financing of terrorism (CFT).

The enhanced requirements are contained in the new Ethics Pronouncement 200 - “Anti-Money Laundering and Countering the Financing of Terrorism – Requirements and Guidelines for Professional Accountants in Singapore” issued by the Institute of Singapore Chartered Accountants (ISCA). This pronouncement is also being adopted by the Accounting and Corporate Regulatory Authority (ACRA) and will be applicable to public accountants and accounting entities registered under the Accountants Act who are regulated by ACRA.

Download the press release (PDF, 365KB) for more information.

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