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The Ministry of Economy and Commerce organized on February 11, 2018, a seminar entitled “Anti-Money Laundering and Terrorism Financing Regulations,” which brought together legal auditors working in Qatar and registered with the Ministry.
The seminar comes within the framework of the Ministry of Economy and Commerce’s keenness to promote the auditing profession, which is regulated by the accounts auditing law No. 30 of 2004. The Ministry is also keen on contributing to the development of the accounting and auditing profession, which reflects economic performance and represents a safety valve.
The seminar, which brought together representatives of the Financial Information Unit at Qatar Central Bank, 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 cooperation between the unit and auditors to facilitate the work of the Anti-Money Laundering and Combatting the Financing of Terrorism Committee with the support of accounting offices and companies operating in Qatar. Participants also discussed preventive and punitive provisions stipulated in Law No. 4 of 2010.
During the seminar, participants were briefed on the joint efforts by the Ministry of Economy and Commerce and the Qatar Central Bank’s Financial Information Unit to raise awareness about anti-money laundering and terrorism financing rules as well as cooperation between the Ministry and auditors in reporting any suspected money laundering and terrorist financing activity. Attendees also emphasized the need to ensure the compliance of auditing offices with laws regulating anti-money laundering and terrorism financing.
At the end of the seminar, lecturers answered all the inquiries of auditors and accounting offices operating in Qatar.