11. Ongoing monitoring

An accounting entity or individual practitioner of the accounting entity must conduct ongoing monitoring of every business relationship with a client.

For purposes of paragraph (1), the accounting entity or individual practitioner must —

determine the extent of ongoing monitoring of a business relationship on a risk‑sensitive basis, depending on the type of client, business relationship, services or transaction; and

be able to demonstrate to the Registrar that the extent of the ongoing monitoring is appropriate in view of the risks of money laundering, the financing of terrorism and proliferation financing.

An accounting entity or individual practitioner of the accounting entity must conduct ongoing monitoring of every business relationship with a client.

For purposes of paragraph (1), the accounting entity or individual practitioner must —

determine the extent of ongoing monitoring of a business relationship on a risk‑sensitive basis, depending on the type of client, business relationship, services or transaction; and

be able to demonstrate to the Registrar that the extent of the ongoing monitoring is appropriate in view of the risks of money laundering, the financing of terrorism and proliferation financing.