Protect Your Practice: Master FICA and AML Requirements
Duration: 2 hours
Price: R195.00
Protect Your Practice: Master FICA and AML Requirements
Presenters : Caryn Maitland
Overview
As a tax practitioner, your responsibilities may extend far beyond tax compliance—you could also fall within the definition of an Accountable Institution under the Financial Intelligence Centre Act (FICA). This insightful and practical session is designed to equip you with the knowledge and tools to navigate the evolving regulatory landscape shaped by South Africa’s greylisting by the FATF and the Financial Intelligence Centre’s increasing focus on professional service providers.
The session will explore your duties in terms of anti-money laundering (AML) and counter-terrorist financing (CTF) compliance, including identifying and reporting suspicious transactions, conducting effective client due diligence (CDD), and maintaining the necessary internal controls and record-keeping processes. You’ll also gain clarity on your role as a compliance officer, and receive practical guidance on preparing for regulatory inspections—ensuring your practice stays aligned with FIC requirements while remaining focused on your core tax services.
Video Content
- Is your tax practice an Accountable Institution? Understanding registration and scope under FICA
- Key compliance obligations: Risk and Compliance Programmes, client due diligence, and record-keeping
- Reporting obligations: Identifying and reporting suspicious and unusual transactions to the FIC
- The role of the tax practitioner as a compliance officer under FIC
- Practical guidance on preparing for regulatory inspections and staying ahead of compliance trends
Competencies Developed
- Determine whether your tax practice qualifies as an Accountable Institution under FICA
- Apply client due diligence (CDD), risk profiling, and AML reporting standards in practice
- Identify suspicious and unusual transactions within a tax advisory context
- Develop governance structures and reporting lines for effective AML compliance
- Engage confidently with FIC audits, inspections, and regulatory expectations
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