ACCA supports ‘Flag it Up’ week to highlight the threat of money laundering.
ACCA is taking part in a Home Office campaign to highlight the damaging effects of money laundering.
The week-long #PasstheFlag campaign started on Monday and aims to shine a strong light on the potential impact of money laundering and how professional bodies, government agencies, policy makers and the law can work together to help address the threat of money laundering.
ACCA says that accountants must be prepared to act as gatekeepers when it comes to tackling financial crime. Its members need to be aware of the signs to spot possible money laundering, and they also need to be aware of the laws and regulations that set out their role in combating it.
‘The accountancy profession works in the public interest, promoting responsible and ethical business and supporting enhanced global economic performance. The profession also has a legal responsibility to report money laundering activities and a public interest responsibility to support initiatives to tackle it.’
Ian Waters, head of standards at ACCA adds: ‘Ethics and professionalism play a part in tackling financial crime, with members having a duty to follow a Code of Ethics and Conduct. The ACCA Rulebook contains the bye-laws, regulations and Code of Ethics and Conduct, which every ACCA member should follow. This involves acting with integrity, objectivity and professional competence, and demonstrating professional behaviour – complying with relevant laws and regulations. And our ethics and professional skills module keeps members and students attuned to and aware of the issues they may face.’
Claire Bennison concludes ‘We’re proud to be part of this campaign as it shows a co-ordinated approach to the work being done to combat this international crime.’