Price:
Free
Level:
Accounting Professionals
Sub-level:
FICA
Lecturer:
Probeta Training
Duration:
60 Minutes
Additionals:
Free
Level:
Accounting Professionals
Sub-level:
FICA
Lecturer:
Probeta Training
Duration:
60 Minutes
Additionals:
CPD Assessment
Certificate
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.
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.