The Ministry of
Economy and Commerce (MEC) yesterday held a seminar, titled ‘Anti-Money
Laundering and Terrorism Financing Regulations’, which brought together
legal auditors working in Qatar and registered with the MEC.
The
seminar, which brought together representatives of the Financial
Information Unit at Qatar Central Bank (QCB), touched on the role of the
auditing profession in combating money laundering and terrorism
financing. Participants were briefed on the unit’s role and discussed
co-operation between the unit and auditors to facilitate the work of the
Anti-Money Laundering and Combating the Financing of Terrorism
Committee with the support of accounting offices and companies operating
in Qatar, the MEC said in a statement.
The participants also discussed preventive and punitive provisions stipulated in Law No 4 of 2010.
The
seminar comes within the framework of the ministry’s keenness to
promote the auditing profession, which is regulated by the accounts
auditing Law No 30 of 2004.
“The MEC is also keen on contributing to
the development of the accounting and auditing profession, which
reflects economic performance and represents a safety valve,” the
statement adds.
During the seminar, the participants were briefed on
the joint efforts by the MEC and QCB’s Financial Information Unit to
raise awareness about anti-money laundering and terrorism financing
regulations as well as co-operation between the ministry and auditors in
reporting any suspected money laundering and terror financing activity.
The attendees also emphasised the need to ensure the compliance of
auditing offices with laws regulating anti-money laundering and
terrorism financing.
At the end of the seminar, the lecturers answered all queries of auditors and accounting offices operating in Qatar.
The seminar in progress.