https://www.stuff.co.nz/business/small-business/107731015/.html
Accountants will be required to report their involvement in cash transactions for clients worth more than $10,000, but their broader new duties to assess risks that may be the biggest burden.
If the accountant you've known for years suddenly asks you to show them your passport and power bill this month to prove who you are, don't be offended.
They are just abiding by more red tape – specifically new rules to combat money-laundering.Up to now it has mostly been up to the likes of banks and casinos to spot and report dodgy financial dealings.
But accountants were brought under the ambit of a piece of legislation called the Anti-Money Laundering and Counter Terrorism Financing Act at the start of this month.