SAP 1, Guidance to Auditors on Money Laundering and Terrorism Financing is withdrawn on 1 May 2015.
Members should refer to the ISCA Ethics Pronouncement (EP) 200, Anti-Money Laundering and Countering the Financing of Terrorism – Requirements and Guidelines for Professional Accountants in Singapore for the relevant requirements and guidelines on anti-money laundering (AML) and countering the financing of terrorism (CFT) applicable to professional accountants in Singapore.
EP 200 is effective 1 November 2014. The establishment of, and any improvement to, systems and controls to meet the requirements and guidance in Sections 3, 4 and 5 shall be implemented by 1 May 2015.
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