CPABC applauds the Cullen Commission for undertaking a complex and comprehensive review of the impact that money laundering has had on British Columbia. The CPA profession in BC, and nationally, has continuously played an active role supporting anti-money laundering initiatives and supports adding additional enforcement and educational tools that would enhance protection of the public.
CPAs in the province are extensively and effectively regulated and are specifically prohibited from participating in or facilitating, either wittingly or unwittingly, any illegal activities. CPABC is actively assessing the Cullen Commission’s recommendations related to the accounting sector to thoughtfully and enthusiastically contribute to a provincial approach to anti-money laundering. We look forward to working with the provincial government and other partners to further strengthen protections.
In addition, CPABC strongly supports the recommendation that the Province study the nature and scope of work performed by unregulated accountants in British Columbia to determine what form of anti-money laundering regulation and oversight is warranted.