Syllabus C3. Regulation And Financial Crime 3 / 9

a) Explain basic legal requirements in relation to retaining and submitting proper records and preparing and auditing financial reports.[K] 

b) Explain the broad consequences of failing to comply with the legal requirements for maintaining and filing accounting records.[K] 

c) Explain how the international accountancy profession regulates itself through the establishment of reporting standards and their monitoring.[K] 

d) Explain the circumstances under which fraud is likely to arise.[K] 

e) Identify different types of fraud in the organisation.[K] 

f) Explain the implications of fraud for the organisation.[K] 

g) Explain the role and duties of individual managers in the fraud detection and prevention process.[K] 

h) Explain why it is important to adhere to policies and procedures for handling clients’ money.[K] 

i) Define the term money laundering.[K] 

j) Give examples of recognised offences under money laundering regulations.[K] 

k) Identify methods for detecting, preventing and reporting money laundering.[K]
Regulation And Financial Crime