View: ICAI must play a positive role by rolling out a standa

View: ICAI must play a positive role by rolling out a standard PMLA solution

Cost of compliance for small practitioners can be onerous, especially compared to revenue earned by such practitioners. Therefore, they may have to choose between additional cost and not doing such activities. If the latter, it will narrow the scope of work for CAs operating in tier-2 and -3 cities and niche players, leading to a loss in revenue. Also, if such services are not offered in these places, a large category of clients, including MSMEs and HNIs, may find it challenging to get them from other clients.

Related Keywords

, Pmla Solution , Icai , Money Laundering , Reporting Entities , Chartered Accountants , Cost Accountants , Company Secretaries , Financial Intelligence Unit , Bank , Revenue ,

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