Austria MER
CHAPTER 5. PREVENTIVE MEASURES
Recommended Actions
Austria should ensure that all DNFBPs are adequately aware of potential ML and FT risks. Austria should ensure that dealers in high-value goods and notaries/lawyers/accountants are adequately aware of, and are applying their AML/CFT obligations. (69)
DNFBP supervisors and self-regulatory bodies
The Chamber of Chartered Public Accountants and Tax Consultants: This body is in charge of monitoring compliance with the legal professional requirements (which includes AML/CFT provisions) of the public accountants and tax consultants. (p21).
No mention of Austria having to register accountants there seems to be 2 classes of accountants, public accountants who are supervised by the Chamber of Chartered Public Accountants and Tax Consultants and commercial accountants who appear to have no clear supervisor.
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Italy MER
76. There are about 114 000 registered accountants. Their activities include budgetary planning, preparation of financial statements, corporate and operations liquidations, evaluations, expert reports and opinions, consultancy, administration and custody. In addition, the AML Law has been extended to cover auditors, of whom there are about 100 000. (p25).
GdF is responsible for the AML/CFT supervision of a wide range of DNFBPs including (i) lawyers; (ii) accountants; (iii) notaries; (iv) casinos; (v) specified categories of persons engaged in manufacture, intermediation, and commerce including exporting and importing precious objects; (vi) trust and company service providers; and (vii) real estate agents. It shares responsibility for the supervision of chartered accountants, notaries, and lawyers with their respective professional associations.
Lawyers, accountants, and notaries are enrolled in registers maintained by their national professional associations and are subject to on-going oversight and monitoring. (93)
Lawyers, notaries, auditors, and accountants are subject to enrolment in registers held by the Consiglidell’Ordineand other supervisory entities and are required to be of “irreproachable conduct.” (185)
No mention of Italy needing to register accountants. There seems to be at least more than 1 class of accountants but it is difficult to surmise how many. There is mention of the GdF having a supervisory role in regard to accountant and the need for accountants to enrol on registers held by the Consiglidell’Ordine.
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Singapore MER
Ministry of Finance (MOF): The main regulatory statutes under the MOF are the Companies Act, Business Registration Act and Accountants Act. MOF is the parent ministry to the Inland Revenue Authority of Singapore, the Accounting and Corporate Regulatory Authority, the Singapore Customs and the Singapore Totalisator Board.
Accounting and Corporate Regulatory Authority (ACRA): ACRA is the national regulator of business entities and public accountants in Singapore,
as well as the facilitator for the development of business entities and the public accountancy profession.
Institute of Singapore Chartered Accountants (ISCA): ISCA is the national accountancy body of Singapore. It is mandatory for all public accountants regulated by ACRA to be ISCA members. Professional accountants not registered as public accountants may also be members of ISCA. (23-24)
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