Tranche 2 · Accounting
AML/CTF compliance for accountants
From 1 July 2026, accountants providing designated services are reporting entities. Custarra helps your practice stand up a compliant program and run it across every engagement.
Many accounting services — managing client money, setting up companies and trusts, and helping buy or sell businesses and property — are designated services under Tranche 2. Custarra builds your program on AUSTRAC's published accounting Program Starter Kit, so your controls line up with what the regulator expects, and makes client due diligence and reporting part of your normal workflow.
What accounting practices must do
- 1
Enrol with AUSTRAC
From 1 July 2026Register your practice as a reporting entity and keep your enrolment details current.
- 2
Adopt an AML/CTF program
From 1 July 2026Document the policies, procedures and controls that identify and manage money-laundering risk across your designated services.
- 3
Know your client
Identify and verify clients — and the beneficial owners behind companies and trusts — before you provide a designated service.
- 4
Report and keep records
Submit suspicious matter, threshold transaction and cross-border movement reports, and retain records for seven years.
How Custarra helps accounting practices
Built on the AUSTRAC starter kit
Your program follows AUSTRAC's published accounting starter kit, so you start congruent with the regulator's expectations instead of guessing.
Client due diligence in your workflow
Risk-rate each client at onboarding, verify identity, and screen for sanctions, PEPs and adverse media — with beneficial-ownership tracing for companies, trusts and SMSFs.
One program across the practice
Roll out a single compliant program across partners and staff, with oversight for your nominated compliance officer.
Reporting without the guesswork
Prepare suspicious matter, threshold transaction and cross-border movement reports with guided templates, and keep an audit-ready trail.
- Be ready for the 1 July 2026 start date
- Start from AUSTRAC's own framework, not a blank page
- Reduce the compliance burden on partners and staff
- Stay audit-ready with automatic record-keeping — exportable for an independent review
Accounting practices provide some of the designated services most closely watched under Tranche 2 — managing client money, forming and administering companies and trusts, and assisting with the buying and selling of businesses and property. Custarra builds your AML/CTF program from AUSTRAC’s published starter kit and fits client due diligence and reporting into the way your practice already works.
General information only — not legal advice.