How to develop - implement and maintain a Risk Management and Compliance Programme for your firm

Price:
R402.50 (VAT Incl.)
Level:
Accounting Professionals
Sub-level:
FICA
Lecturer:
Probeta Training
Duration:
60 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

Accounting and Auditing firms must develop, implement and maintain a Risk Management Compliance Programme (RMCP) in terms of the Financial Intelligence Centre Act (FICA).

Your firm will be required to fulfil certain regulatory obligations, such as:

  • Establish and verify the identity of clients
  • Understand the nature and purpose of a transaction/relationship
  • Keep records of business relationships and transactions
  • Screen against sanctions watchlists
  • Report receipts of cash above a prescribed amount to the FIC
  • Report suspicious transactions or activities to the FIC
  • Document internal processes consistent with obligations under the FICA
  • Offer compulsory FICA training to all employees
  • Appoint a compliance officer
  • Identify the source of funds for transactions.