On Aug. 26, ARG FIU published updated rules applicable to auditors.
ARG FIU issued Resolution 132/2024 to modify the tasks of the independent external auditor (REI) to align with new regulatory framework for the prevention of ML/FT/FP.
Background
Follows the reforms made pursuant to Law 27.739, amending Law 25.246, which added ARG FIU functions of analysis, processing and transmission of information.
For purposes of preventing proliferation weapons of mass destruction (WMD) financing.
The reformed simplified regime enables compliance with the abbreviated procedure approved in ARG FIU Resolution 90/2024 and based on international standards.
Based on the foregoing, it is necessary to adapt functions established for the REIs.
Highlights
The role of the reviewer must be fulfilled by independent professionals who are highly specialized in the subject matter, thus academic and professional requirements added.
Individuals that are acting as REIs must demonstrate technical suitability as well as professional experience related to AML/CFT/CPF over a minimum of five years.
A requirement for registration as REI with ARG FIU is to have a university degree.
Additionally, REIs must have sufficient training in the subject, through postgraduate degrees and/or attendance at specific activities with minimum of 50 hours attendance.
Regarding the registration procedure with the ARG FIU, additional information and documentation must be submitted, which can be done by registering as indicated.
Effectiveness
Resolution 132 comes into force Aug. 26, 2024, compliance date is Dec. 24, 2024.
