Within EU funded project “Combating Money Laundering and Terrorist Financing in Georgia”, the Council of Europe (CoE) conducted the two-day training on “Anti-money laundering (AML) and counter terrorist financing (CFT) compliance” for Georgian accountants and auditors. The training was attended by members of the Georgian Federation of Professional Accountants and Auditors (GFPAA), Accounting, Reporting and Auditing Service of Georgia (ARAS), the Financial Monitoring Service of Georgia (FMS), supervisory institutions in terms of AML/CFT compliance. The participants were acquainted with the international AML/CFT standards, local legislative requirements, risks and vulnerabilities typical for the accounting and auditing sector, and AML/CFT supervision. In addition, through presentations and practical exercises on case work, sector representatives had the opportunity to discuss with the Council of Europe expert current implementation challenges, importance of cooperation, and good practices regarding supervision methods and procedures. This training is part of Council of Europe efforts to strengthen AML/CFT operational procedures and practices of the DNFBPs in Georgia.

The training was organized as a part of the CoE/European Union Eastern Partnership Programmatic Cooperation Framework (PCF) Project “Combating Money Laundering and Terrorist Financing in Georgia”.