From July 1, changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation will extend to certain services provided by accounting firms and other professional service providers.
These reforms are being introduced by the Australian Government and administered by AUSTRAC. As part of these changes, SRJ Walker Wayland may be required to collect, verify and maintain certain information about clients when providing designated services.
For most existing clients, there will be little or no immediate impact. But there may be circumstances where we are required to seek extra information or documentation to meet legal obligations.
What does this mean for you?
For most existing clients, there will be little or no immediate impact. You can continue working with us as you do today. However, there may be circumstances where we are required to request additional information or documentation to comply with our legal obligations.
This may include confirming: your identity; your business ownership structure; directors, shareholders, trustees or beneficiaries; the purpose of a transaction or engagement; and the source of funds in certain matters.
Katrina Brennan, Director, SRJ Walker Wayland Business Growth Advisors, Accountants and Auditors, Level 2/2 Innovation Pkwy, Birtinya, 5301 9957, srjww.com.au.
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