The new AIA Regulatory Oversight Committee is charged with ensuring that the AIA maintains its compliance with the Money Laundering Regulations 2017 and adding a level of oversight and scrutiny in line with best practice. The Committee will report directly to Council, taking responsibility for the appropriateness of the framework for AIA’s internal regulation of Members in Practice.
The new Committee enhances the current structure where the Practice Compliance Committee is empowered to deal with all matters concerning the monitoring of the compliance of members and firms in their public practice with the Association’s articles, as well as bye-laws, regulations and relevant accounting and auditing standards, regulatory and legal requirements and the Code of Ethics.
The Regulatory Oversight Committee will review the risk assessment, supervision and compliance work of the AIA and will also ensure that appropriate action is taken against relevant persons when necessary where they have failed to meet their anti-money laundering obligations.
AIA Council member George Josephakis, the chair of the committee, has over 25 years’ experience in accounting, auditing and anti-money laundering across Europe. He will be joined by Dr. Jackie Harvey, Professor of Financial Management and Director of Business Research at Newcastle Business School and one of the authors of The Critical Handbook of Money Laundering, which analyses international anti-money laundering frameworks implemented over the last 30 years.
The committee is completed by the inclusion of AIA and lay members. If you are interested in joining this Committee, please send a copy of your CV and any relevant experience to firstname.lastname@example.org for further information.