AMLA Starts Operations
In case you haven’t already heard designated persons (that includes accountants in practice) have a new regulator called the ‘Authority for Anti-Money Laundering and Countering the Financing of Terrorism’. Originally created in June 2024, the Board held its first meeting in March 2025 and the chair is Bruna Szego.
The aim of this new authority is to coordinate national AML authorities around Europe to ensure the correct and consistent application of AML rules in each jurisdiction.
AMLA will also supervise supervisory bodies in Europe including the Institute and enhance cooperation among police financial intelligence units (FIUs).
Ms Szego will be at the RDS in Dublin in May to give the Keynote Address at the European Anti-Financial Crime Summit 2025.
It’s expected that AMLA will be fully operational by 1 January 2028 with a staff complement of 430.
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.
