6 (a) Explain the term ‘money laundering’. (3 marks)
6 (a) Explain the term ‘money laundering’. (3 marks)
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3 The ‘person specification’ is derived from the job description.Required:(a) Explain what is meant by the terms:(i) ‘person specification’; (4 marks)
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(c) Explain the term ‘target costing’ and how it may be applied by GWCC. Briefly discuss any potentiallimitations in its application. (8 marks)
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(b) A summary of the information needed to satisfy our obligations under the money laundering legislation andany action that should be taken before agreeing to become tax advisers to the Saturn Ltd group. (5 marks)
(c) The OECD’s Financial Action Task Force on Money Laundering (FATF) recommends preventative measures to betaken by independent legal professionals and accountants (including sole practitioners, partners and employedprofessionals within professional firms).Required:Describe FOUR measures that assist in preventing professional accountants from being used for moneylaundering purposes. (8 marks)
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