Chartered Accountants Ireland published its AML Supervisory Report on the firms that it supervises and the main aspects of special interest are analysed below.
Reporting of Suspicious Transactions by Firms
121 STRs were filed by Chartered Firms in 2025, compared to 100 in 2024 and 91 in 2023.
AML Reviews
The results of the Institute’s Desk Based and On-Site Reviews are shown here for the last two reporting years.
On-Site Reviews
| 2024/2025 | 2023/2024 | |
| Number Completed | 16 | 17 |
| Compliant | 12 | 14 |
| Generally Compliant | 2 | 2 |
| Not Compliant | 2 | 1 |
Desk based reviews
| 2024/2025 | 2023/2024 | |
| Number Completed | 51 | 37 |
| Compliant | 17 | 6 |
| Generally Compliant | 26 | 24 |
| Not Compliant | 8 | 7 |
The top five review findings were:
- Inadequate documented policies & procedures
- No training
- Inadequate client risk assessment / record missing
- Inadequate firm wide risk assessment
- Inadequate documentation of CDD
For AML training and compliance please send a mail to john@jmcc.ie.
For audit cold file reviews and tailored training sessions explaining more about various topics like AML, Audit, FRS 102, please send a mail to john@jmcc.ie.
For more on engagement and representation letter templates and a variety of CPD webinars on money laundering and other accounting/audit related topics, please go to our website for:
- Our latest CPD Webinar on The Main Changes in Irish GAAP (recorded July 2024)
- Anti-Money Laundering Policies Controls and Procedures Manual (March 2022) — View the table of contents
- AML Webinar (December 2023) available here, which accompanies the AML Manual. It explains the latest legal AML reporting position for accountancy firms and includes a quiz. Upon completion you receive a CPD certificate for attendance in your inbox.
- Letters of engagement and similar templates—Please visit our website here where immediate downloads are available in Word format. A bulk discount is available for orders of five or more items bought together.
ISQM TOOLKIT, or if you prefer to chat through the different audit risks and potential appropriate responses presented by this new standard. We typically tailor ISQM training and brainstorming sessions to suit your firm’s unique requirements. Please contact John McCarthy FCA by email at john@jmcc.ie.
