For accountants & auditors
Compliance for accountants & auditors
Accountancy service providers are commonly captured as obliged entities under AML law - carrying beneficial-ownership obligations toward their own clients, not just reporting on someone else's.
An obligation toward your own client, not just a third party
Where an accountancy firm provides services in scope of AML regulation - company formation, trust and company administration, or certain advisory work - it typically has to identify its own client's beneficial owners, the same way a bank identifies a corporate account holder's. See beneficial ownership compliance.
Clients with genuinely complex structures
Accountancy clients often include holding structures the firm itself helped design - which doesn't make resolving them back to natural persons any less necessary for AML purposes. See corporate ownership structures.
Related
See it work on a real company.