What do these changes mean for our clients?
We’re required to undertake customer due diligence on our clients, so we’ll be asking you for some identification and in some cases, we will need to verify your source of funds and/or source of wealth. We are unable to start work for you until this customer due diligence is carried out. We will also have obligations to report any suspicious activity or transactions to the Financial Intelligence Unit (FIU).
Your Situation:
To find out what you need to bring to the meeting, please click on the relevant links below:
Clubs & Incorporated Societies
Politically Exposed Person (a person or immediately family of a person, who holds a prominent public function offshore in the past 12 months)
How can we help you comply?
Your transactions: If there will be any significant changes in your activity, please advise us in advance. You will be obligated to provide explanations for any unusual activity.
Invoices / receipts: For transactions that are out of the norm from your day-to-day activity – say perhaps you purchased a new computer, or you received money from sale of an asset – it would be useful to attach a copy of the invoice / receipt to the Xero transaction. Click here for instructions on how to attach a file to a Xero transaction.
Opening a bank account: If you need to open a bank account, the bank will require the same information. We can provide a copy of your most recent financial accounts on our letterhead or a letter signed by us.
Our Compliance
Aro Accounting has conducted a risk assessment and set out policies, procedures and controls in line with the Anti-money laundering and Countering Financing of Terrorism Act (2009). Our AML Compliance Programme is from Aro Advisers. Click here for more information on the AML Packages available for Accountants and Bookkeepers from Aro Advisers.