Dates and location
Hours
Dates and location
Hours
Description
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Get up to speed in an hour on critical topics for CPAs such as AI, Ethics, Finance, Cybersecurity, Audit, Tax, Sustainability and more.
- Convenient 60-minute audio courses in our new app.
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On September 30, 2024, TD Bank reached a $3 billion settlement with U.S. authorities for violating the Bank Secrecy Act (BSA), making headlines as one of the largest penalties in banking history. This case revealed significant lapses in TD Bank’s anti-money laundering (AML) program, including failures to monitor high-risk transactions, mitigate illicit finance risks, and ensure compliance with regulatory obligations.
This audio learning session is specifically designed for CPAs who play a crucial role in safeguarding financial integrity and upholding regulatory compliance. Through an in-depth analysis of TD Bank’s missteps, participants will gain critical insights into the importance of robust AML practices, effective risk management, and timely reporting of suspicious activity.
Key topics include the systemic weaknesses that exposed TD Bank to legal and financial repercussions, the ethical considerations surrounding compliance, and the vital role CPAs have in preventing similar lapses in organizations they serve. By examining real-world scenarios such as the bank’s handling of narcotics-related money laundering and high-risk funnel accounts, participants will learn practical strategies to strengthen internal controls, enhance oversight, and ensure adherence to the highest professional standards.
This course is an essential resource for CPAs committed to mitigating risk, maintaining regulatory compliance, and fostering trust in the financial systems they oversee.
Lessons Covered:
- Introduction
- A History of Neglect
- The Anatomy of a $3B Settlement
- The CPA’s Role in Mitigating AML Risks
- Recognizing Red Flags: High-Risk Transactions and Activities
- Timely Reporting and Documentation to Avoid Costly Oversights
- The Case for a Robust Compliance Framework
- Upholding Professional Integrity
- Proactive Strategies for AML Excellence
- Conclusion
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Key Takeaways
Upon completion of this course, you will be able to:
- Identify the critical elements of an effective AML compliance program to safeguard organizations against legal and reputational risks.
- Understand how to detect and address high-risk activities, such as suspicious transactions and inadequate internal controls, before they escalate.
- Learn practical strategies to strengthen oversight, ensure timely reporting, and uphold ethical standards in financial operations.
Who Will Benefit
This session is designed for CPAs who are responsible for ensuring compliance, managing financial risks, and upholding ethical standards within organizations. It is particularly beneficial for those involved in auditing, financial oversight, or advisory roles where robust anti-money laundering practices are essential.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course if for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
New mobile learning! Download Blackboard Learn from your app store (iOS or Android). Learn more.
To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Lisa Dorian, MSL, CPA,CA, CPA (IL), CIA, CRMSA is a skilled business executive with extensive experience in ethics, compliance, and risk as well as business process and strategy. She has worked with a variety of boards and leadership teams of organizations in both the private and public sector to help implement award winning enterprise risk management frameworks and compliance frameworks. She has authored many internal policies, including codes of conduct. As well as serving in the C-Suite in finance, risk, and internal audit departments, she has also conducted quality assessment reviews of internal audit departments in the public sector and for financial institutions.