Illustrative Customer Due Diligence Templates (Page 3 of 25) in pdf

Illustrative Customer Due Diligence Templates Page 3

EP 200 IG 2

Introduction

The Institute of Singapore Chartered Accountants (ISCA) issued the new Ethics Pronouncement (EP)

200, Anti-Money Laundering and Countering the Financing of Terrorism – Requirements and Guidelines

for Professional Accountants in Singapore, in October 2014. This pronouncement has also been adopted

by the Accounting and Corporate Regulatory Authority (ACRA) and is applicable to public accountants

and accounting entities registered under the Accountants Act who are regulated by ACRA.

The comprehensive requirements relating to anti-money laundering (AML) and countering the financing of

terrorism (CFT) contained in the new pronouncement are benchmarked to international best practices

and the latest "International Standards on Combating Money Laundering and the Financing of Terrorism

& Proliferation” issued by the Financial Action Task Force (FATF Recommendations). The

pronouncement was developed by an ISCA Working Group comprising representatives from across the

public accounting sector and in consultation with the relevant regulators such as the Monetary Authority

of Singapore, ACRA and the Commercial Affairs Department of the Singapore Police Force.

With the objective of supporting the accountancy profession to implement the controls and procedures

required in EP 200, ISCA has developed EP 200 Implementation Guidance (IG) 2 – Illustrative Customer

Due Diligence (CDD) Templates to assist professional accountants and professional firms, specifically in

the area of customer due diligence.

The templates and questionnaires provided in EP 200 IG 2 are not prescriptive and should be tailored

and adapted for use, as appropriate for the professional firm’s purposes. Professional firms remain fully

responsible for ensuring compliance with AML and CFT requirements.

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