Combating Money Laundering – A Mandatory Topic for the Professional Accountant

Abstract

In recent years, the European Union has intensified concerns about money laundering and terrorist financing, with direct impact in Romania, too. The 4th and 5th European Directives, drafted in this regard, require the extension of the role and responsibility of the professional accountant (expert accountant or financial auditor) in the complex process of preventing and combating money laundering and terrorist financing. There is a specific regulatory framework, but also several stages that define the money laundering process, which must also be known by professional accountants.