Articles
| Open Access | ROLES OF AUDITOR IN COMBATING MONEY LAUNDERING: A CONCEPT PAPER
Safarov Otabek Abdulla ugli , Head of International Accounting and Finance Department at "International School of Finance and Technology" InstituteAbstract
This concept paper examines the role of auditors in combating money laundering. It discusses auditors' legal and ethical responsibilities, the challenges they face, and the best practices they can follow to effectively identify and report suspicious transactions. The document states that auditors have a clear legal and ethical responsibility to identify and report suspicious transactions. At the same time, auditors face a number of difficulties in doing this, including the complexity of money laundering schemes, the lack of clear instructions on how to organize a suspicious operation, and the fear of retaliation from clients.
Keywords
auditor, suspicious transactions, risk-based approach, data analysis, best practices, legal responsibility, moral responsibility, financial crime, financial system, global economy.
References
International Standards on Auditing (ISAs).
National laws and regulations on money laundering.
Codes of ethics for auditors.
FATF Guidance for Auditors and Accountants on Combating Money Laundering and Terrorist Financing.
ACCA Guidance on Money Laundering for Auditors.
IAASB Practice Note on Money Laundering.
Article Statistics
Downloads
Copyright License
This work is licensed under a Creative Commons Attribution 4.0 International License.