The necessity of anti-money laundering standards for Iranian auditors

Abstract

Purpose

According to the last public statement of FATF (2018), Iran has some significant deficiencies in its anti-money laundering (AML) regime, especially in suspicious transaction reporting. In this research, the author tries to empirically show that Iranian auditors do not a response to AML cases effectively and adopting an AML standard is required for Iranian auditors. Therefore, it helps to improve one of the deficiencies of Iran’s AML regime.

Design/methodology/approach

To collect data, the author designed and developed a questionnaire and the questionnaire sent to all partners of Iranian auditing firms, which have authorization from the Iranian Association of Certified Public Accountants on December 2018.

Findings

The finding shows most of the sample auditors’ claim that it is necessary to have an AML standard and it can be helpful for them. Furthermore, most of the Iranian auditors in money laundering cases, which companies are involved do nothing except filling the checklist of Anti-Money Laundering Implementing Regulations for Business and Non-business Companies (2012).

Originality/value

The results of the current research make clear the necessity of adopting an AML standard for Iranian auditors and recommend Iranian authorities to improve Iran’s AML regime.

Citation

Salehi, M., Molla Imeny, V. and Khaleghi Baygi, A. (2020), "The necessity of anti-money laundering standards for Iranian auditors", Journal of Money Laundering Control, Vol. 23 No. 1, pp. 187-207. https://doi.org/10.1108/JMLC-05-2019-0034