Compliance officer in ecuadorian MSMEs: A perspective from accounting and money laundering prevention
DOI:
https://doi.org/10.51247/st.v8iS3.697Keywords:
Compliance officer, MSMEs, money laundering prevention, accounting, regulatory complianceAbstract
This article analyzed the role of the compliance officer in Ecuadorian micro, small, medium-sized, and large enterprises, with emphasis on their interaction with accounting practices and their contribution to the prevention of money laundering (ML). The objective of the study was to examine how the articulation between the functions of the Compliance Officer and accounting processes strengthened the mechanisms for monitoring, detecting, and reporting suspicious operations in different types of organizations. To achieve this purpose, a qualitative methodology was used, based on documentary review, regulatory analysis, and a comparative study of best practices in MSMEs and larger companies. This methodological strategy made it possible to identify key elements that defined the integration among compliance, forensic accounting, and internal auditing. The findings showed that MSMEs, despite their resource limitations, were able to develop more efficient compliance systems when they incorporated accounting procedures aimed at internal control and detailed transaction analysis. In the case of large companies, the existence of more complex structures facilitated the formalization of specialized areas, improving traceability and the processing of financial information relevant to ML prevention. Finally, the conclusions indicated that the effective integration of the Compliance Officer within the accounting structure strengthened the financial and legal resilience of companies. Likewise, it was determined that the articulation among forensic accounting, internal auditing, and compliance helped consolidate an organizational culture based on transparency and ethics, essential elements for addressing money laundering risks
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