Accountants in Canada
The Proceeds of Crime (Money Laundering) and Terrorist Financing Act applies to accountants and accounting firms when they:
- Receive or pay funds on behalf of a client.
- Buy or sell securities, real property or business assets or entities on behalf of a client.
- Transfer funds or securities on behalf of a client.
An accountant means a chartered accountant, certified general accountant or certified management accountant.
An accounting firm means an organization that provides accounting services to the public and has at least one partner, employee or administration who is an accountant.