Anti-Money Laundering

When you graduate from university, it can be difficult to know what career path you want to take for the rest of your life. The thought alone can feel both overwhelming and intimidating.

David Bowra, FCPA, FCA, didn’t have to look far to find inspiration for his debut crime novel, Banking on Murder.

CPAs in Canada are bound by a strict requirement of confidentiality that applies to all aspects of their professional work. In BC, the CPABC Code of Professional Conduct outlines the requirements and provides registrants with extensive guidance on this topic. In this article, we cover the major confidentiality rules in the CPA Code, describe situations that are prone to potential breaches of confidentiality, and provide some cautionary examples.

The Cullen Commission of Inquiry into Money Laundering in British Columbia turned its attention to Canada’s CPA profession in early 2021. The purpose of the Commission is to inquire into and report on the extent of money laundering within certain sectors, including professional services, and determine the scope and effectiveness of the powers, duties, and functions exercised or carried out by relevant regulatory authorities. 

An update on anti-money-laundering initiatives