Compliance and AML professionals at Cyprus regulated firms now required to have ICA certification

Compliance and anti money laundering professionals working at firms regulated by the Institute of Certified Public Accountants of Cyprus (ICPAC) will now be required to have a certification provided by ICPAC and the International Compliance Association (ICA), the leading professional body for the global regulatory and financial crime compliance community.

The announcement comes off the back of a strategic partnership agreement signed between ICA and ICPAC in September. The programme entitled ICA/ICPAC Compliance Proficiency Programme will now be required by the hundreds of AML and Compliance Officers working for accountancy firms that are regulated by ICPAC. It is the only programme of its kind to be offered in Cyprus by an international professional body and a regulator.

ICA has a long history of providing international certifications that combine global best practice with regional insight and delivering training and education in an engaging and accessible way. The focus is always on real-world application of knowledge so that individuals can perform better in their roles.

The course will cover international legislation and directives in the area of antimoney laundering, the respective Cyprus legislation and ICPAC’s AML Directive. Successful completion of the programme will result in joint certification from ICA and ICPAC, mapped at level 4 in the Framework for Higher Education Qualifications.

Helen Langton,CEO, ICA, commented: “I am particularly pleased about signing this landmark agreement. At ICA we are always seeking new global partnerships and alliances in order to raise standards and promote the professionalization of compliance. We are looking forward to working closely with ICPAC and accountancy firms in Cyprus and to provide a fantastic learning experience leading to a recognized benchmark of excellence.”

Kyriakos Iordanou, General Manager, ICPAC, added: “ICPAC is committed to advancing and enabling compliance and takes very seriously its role as an AML regulator. With this in mind, we invest significantly in the continual improvement of our operations, activities and services we provide to ourmembers.The main purpose of this programme is to certify AML Compliance Officers with a world-class qualification, ensuring the highest level of competence in delivering their tasks, as well as the overall education and training of the members of ICPAC on the specific subject. The program cements ICPAC’s approach incooperating with global organizations in order to offer its members the best possible education and professional training.”