Public Compliance Communications 6
PCC 13 - Scope of item 12 of Schedule 1 relating to registered auditors
Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Regulations issued under the FIC Act. (page 1)
This public compliance communication cross-references 4 linked laws.
Relationships in
Read together with
Low confidencePCC 13 - Scope of item 12 of Schedule 1 relating to registered auditors
"This PCC should be read with PCC13 which deals with scope of item 12 in relation to registered auditors."
Relationships out
No relationships recorded.
Linked legislation
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 2
"The Financial Intelligence Centre is established in terms of section 2 of the Financial Intelligence Centre Act, Act 38 of 2001"
Cross-references
Document
Financial intelligence centre
REPUBLIC OF SOUTH AFRICA
PUBLIC COMPLIANCE COMMUNICATION No. 13 (PCC13)
SCOPE OF ITEM 12 OF SCHEDULE 1 TO THE FINANCIAL INTELLIGENCE CENTRE ACT, NO. 38 OF 2001, AS AMENDED, IN RELATION TO REGISTERED AUDITORS
The Financial Intelligence Centre (the Centre) provides the guidance contained in this Public Compliance Communication (PCC) in terms of its statutory function under section 4(c) of the Financial Intelligence Centre Act No. 38 of 2001, as amended, (the FIC Act) read together with Regulation 28 of the Money Laundering and Terrorist Financing Control Regulations (the Regulations) issued in terms of the FIC Act.
Section 4(c) of the FIC Act empowers the Centre to provide guidance in relation to a number of matters concerning compliance with the obligations of the FIC Act.
Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Regulations issued under the FIC Act. Guidance provided by the Centre is authoritative in nature. An accountable institution must comply with the FIC Act and Regulations read with guidance issued by the Centre, and where there is a departure explain the reasons for not adhering to the guidance provided by the Centre. It is important to note that enforcement action may emanate as a result of non-compliance with the provisions of the FIC Act in areas where the guidance provided by the Centre, has not been adhered to.