What’s changing?

From 1 July 2026, new Anti‑Money Laundering and Counter‑Terrorism Financing (AML/CTF) obligations will apply to accounting firms in Australia when providing designated services.

These reforms introduce formal requirements for how we identify clients, verify their identity, assess risk, and maintain up-to-date client information in accordance with the AML/CTF framework.

What this means for you

As part of our AML/CTF obligations, we are required to undertake Customer Due Diligence (CDD), and in some circumstances, Enhanced Due Diligence (EDD).

This means you may notice some changes in how we work with you, including:

• • Providing identification and verification documents (for both new and existing clients)

• • Supplying additional information about your business activities, ownership and control structures, or source of funds

• • Occasional follow-ups to confirm or update your details to ensure records remain current

These requirements are mandated by law and apply across the accounting profession.

Why these changes are being introduced

The AML/CTF reforms are designed to:

• • Prevent and detect money laundering, terrorism financing, and other serious financial crime

• • Protect individuals, businesses, and the broader community

• • Strengthen the integrity and transparency of Australia’s financial system

• • Align Australia’s regulatory framework with international standards, including Financial Action Task Force (FATF) recommendations

When will this apply?

These requirements apply from 1 July 2026 and will be incorporated into our standard onboarding and ongoing client processes.

Our approach

We recognise that these additional steps may require some extra time and information. Our approach is to:

• • Keep the process as efficient and streamlined as possible

• • Clearly explain our requirements and the reasons for them

• • Work with you to minimise disruption to your day-to-day activities

Handle all information in accordance with our privacy obligations and data protection.

What you need to do

No immediate action is required, we will contact you directly if we require additional information to meet our AML/CTF obligations.

When requested, please provide the relevant information in a timely manner to avoid any delays in service delivery.

Prefer to talk it through?  

There’s no need to take any action unless we contact you. If you do have questions or would like to better understand how these changes apply to you, our team is here to help—please feel free to get in touch via - CONTACT US