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Title: Directions Governing Anti-Money Laundering for Certified Public Accountants
Date: 2017.06.26 ( Announced )
Date: 2017.06.26 ( Amended )

Article Content

 
1     These Directions are adopted pursuant to Article 6, paragraph 2 of the Money Laundering Control Act (hereinafter, "the Act").
2     A person who has acquired qualification to practice as a certified public accountant (CPA) and practices as a CPA pursuant to Article 8 of the Certified Public Accountant Act, who is preparing for or carrying out, or who has prepared for or carried out, any of the transactions or transaction modes designated under Article 5, paragraph 3, subparagraph 3 or subparagraph 5 of the Act for any customer, shall participate in on-the-job training for anti-money laundering and countering terrorism financing pursuant to these Directions. The CPA firm that the CPA established or joined shall carry out internal control procedures pursuant to these Directions.
3     A CPA firm shall carry out internal control procedures as follows:
  1. The responsible person or a designated dedicated person shall be responsible for coordinating and monitoring the implementation of the Regulations Governing Anti-Money Laundering for Certified Public Accountants and these Directions.
  2. For any matter for which a CPA is engaged and for which a report has been filed of suspected money laundering transactions under Article 7 of the Regulations Governing Anti-Money Laundering for Certified Public Accountants, the firm shall exercise enhanced monitoring and control.
  3. In selecting a CPA, or the transaction personnel handling the transactions and transactions modes under Article 5, paragraph 3, subparagraph 3, and subparagraph 5 of the Act, the firm shall pay attention to his/her integrity, expertise, and whether he/she is potentially an interested party to the anti-money laundering and countering terrorism financing duties.
  4. The firm shall provide the latest laws and regulations on anti-money laundering and countering terrorism financing to the firm's internal staff.
4     The CPAs shall participate in the on-the-job training for anti-money laundering and countering terrorism financing organized by the certified public accountants associations, government agencies, juristic persons, or associations, and report to the National Federation of Certified Public Accountants Association of the R.O.C. (NFCPAA) for recordation.
    The number of hours, course certification, and reporting and recordation method for the on-the-job training under the preceding paragraph shall be adopted by the NFCPAA.
5     The Financial Supervisory Commission shall dispatch personnel to inspect the internal control procedures of the CPA firms and CPAs carrying out anti-money laundering operations, and may designate the NFCPAA to carry out the spot checks.