Accountants in the anti-money laundering front line

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. Which of the following is not a system or control that accountants should have in place regarding anti-money laundering?

  2. What does SARS stand for and what is their purpose?

  3. What two steps must accountants take with regard to preventing money laundering?

  4. Why is the low level of SARS worrying?

  5. Why might an accountant not want to work for a client with business interests in a high-risk jurisdiction?

  6. Why might an accountant not want to report a client's suspicious activity?

  7. Why should accountants always report suspicious activity no matter how small?

  8. Why are accountants crucial to the process of fighting money laundering?

  9. Which of the following is not an appropriate way to navigate the money laundering landscape?

  10. Who should accountants report suspicious activity to?