Withdrawal of a Guide for Registered Auditors: Combating Money Laundering and Financing of Terrorism

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Withdrawal of a Guide for Registered Auditors: Combating Money Laundering and Financing of Terrorism

• 20 February 2024
• Money Laundering
• South African Accounting Academy

The IRBA Board approved the withdrawal of the Guide due to changes in legislation, notably the substantial amendments made to the Financial Intelligence Centre (FIC) Act No. 38 of 2001. These changes include revisions to Schedules 1, 2 and 3 of the FIC Act that removed the IRBA as a Supervisory Body, effective from 19 December 2022.

Because of these developments, registered auditors are encouraged to familiarise themselves with the guidelines developed and issued by:

• the FIC (https://www.fic.gov.za/compliance/compliance-guidance/) and 

• the South African Institute of Chartered Accountants (https://www.saica.org.za/anti-money-laundering-aml/the-financial-intelligence-centre) 

to implement the changes to the FIC Act.

Click here to access the Withdrawn Guide:

https://www.irba.co.za/upload/irba-guide-for-ras-combating-money-laundering%20-%20withdrawn.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• Members of IRBA should stay up-to-date with the latest developments and guides that affect registered auditors.

• Practitioners must be aware of the content of any guidance issued by IRBA, as well as guidance that has been withdrawn.

Relevance to Your Clients:

• None

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