Accounting
AML Compliance for Accounting Professionals
AML/CTF software for accounting practices, bookkeepers, and tax agents preparing for Tranche 2 obligations.
Get your free trialWhat Tranche 2 Means for Accounting
From 1 July 2026, accounting businesses providing designated services are reporting entities under the AML/CTF Act and need an AML/CTF program. Whether these obligations apply to you depends on the designated services you provide. Check with AUSTRAC or a qualified adviser. Instant Compliance provides tools to help you set one up.
Industry Challenges
- •Client accounts potentially being used to layer illicit funds
- •Complex tax structures designed to hide beneficial ownership
- •International transactions and offshore entity arrangements
- •Trust and company formation services requiring enhanced scrutiny
- •High-value cash transactions in business advisory services
Your Obligations
- Client identification and verification for all new engagements
- Enhanced due diligence for complex corporate structures
- Beneficial ownership identification and ongoing verification
- Ongoing monitoring of client relationships, with transactions scored against the rules you configure
- Suspicious activity reporting for unusual financial patterns
- Record-keeping and comprehensive reporting to AUSTRAC
Our Solutions
- Risk-based verification workflows for accounting engagements
- Automated beneficial ownership tracking for complex structures
- Client risk profiling with ongoing monitoring and alerts
- Program templates and tools for accounting practices
- Reporting, analytics, and audit trail tools
- Designed to work within accounting practice workflows
Purpose-Built for Accounting Professionals
Tools designed for the compliance needs of your industry
Customer Verification
Identity verification and due diligence tools for your industry.
Risk Assessment
Industry-specific risk scoring and profiling based on sector-specific risk factors.
Transaction Monitoring
Monitor transactions for patterns and thresholds relevant to your business type.
Report preparation
Prepares suspicious matter and threshold transaction report content for your compliance officer to review and lodge with AUSTRAC.
Program documents
AML/CTF program templates for your industry, for you to review, tailor and adopt.
Records & audit log
Record-keeping and audit trails to help you evidence your work.
Key Steps for Accounting Businesses Under Tranche 2
Key steps to set up your program
Develop AML/CTF Programs
Draft AML/CTF program documents based on your business details and risk profile, for you to review and adopt.
By July 1, 2026Implement CDD Procedures
Establish customer due diligence procedures including identification and verification processes.
Before onboardingTransaction Monitoring
Set up systems to monitor transactions for suspicious activity and reporting thresholds.
Ongoing requirementStaff Training
Train all staff on AML obligations, red flags, and reporting procedures.
Regular trainingIndustry-Specific Integrations Coming Soon
We're building seamless integrations with the software platforms accounting professionals use every day. Want to see your platform integrated first?
Request an IntegrationReady to Prepare Your Accounting Business?
Get started with Instant Compliance. Start your free 2-week trial today!
Start Your Free TrialImportant: Instant Compliance is software, not compliance advice.
Our tools help you prepare, record and manage an AML/CTF program. They do not provide legal or compliance advice and do not guarantee compliance with the AML/CTF Act. Your business remains responsible for meeting its own obligations and for every decision it makes using these tools. Instant Compliance is an independent software provider and is not affiliated with, endorsed by or acting on behalf of AUSTRAC or any government body. Read what we do and what stays your responsibility