About ARCPA Certification

The ARCPA Certification is an industry accreditation program that establishes the benchmark of compliance best practice for the registered remittance providers industry in Australia.

ARCPA is committed to elevating the compliance policy and operating standards in Australia by driving increased and continued participation by remittance providers.

The accreditation program is open to all AUSTRAC registered remittance providers in Australia who are ARCPA members and measures the compliance standards of applicants against the ARCPA Compliance Best Practice (CBP) using the ARCPA Enhanced Independent Review (EIR) Guidelines against a range of criteria.

Benefits of ARCPA Certification

Successful ARCPA Certified members will be awarded this national accreditation and be eligible to use the ‘ARCPA Certified Member’ branding as symbol of quality, professionalism and commitment to the highest compliance standard.

ARCPA Certification Documents

  • ARCPA Compliance Best Practice (CBP)
  • ARCPA Enhanced Independent Review (EIR) Guidelines

ARCPA Certification Process

  • Interested ARCPA members need to complete the application form.
  • ARCPA will accept applications on a first-come, first-serve basis and share the EIR criteria with the member, and organise a time for an on-site assessment of the applicant to be conducted.
  • The Enhanced Independent Review will be conducted by an external, experienced compliance professional who will assess the member’s business against the ARCPA Compliance Best Practice and the ARCPA Enhanced Independent Review Guidelines, and provide an assessment as to whether the member is Fully-Compliant or Non-Compliant.
Ratings Description Outcome and Timeframe
Fully Complaint (FC) The requirements are fully met with respect to all essential criteria.
Non-Complaint (NC) There are shortcomings in meeting the requirements ARCPA Certification denied. Applicant will need to become fully compliant within 2 months or re-apply for ARCPA Certification at a later stage.

ARCPA will provide a thorough report outlining the assessment of the ARCPA Certification application.

If the member re-applies for ARCPA Certification they will need to pay the fee again, and they will be assessed by a different ARCPA reviewer.

Requirements

  • The applicant must be an ARCPA member to make an application for ARCPA Certification.
  • The applicant must have had an Independent Review conducted by a reviewer in the last 12 months preceding the ARCPA Certification application.
  • The Certifier assigned will be an external Compliance Professional, approved by ARCPA.
  • For the sanctity of the Certification process, the Enhanced Independent Reviewer (EIR) must be a separate entity or individual to that who is the Certifier.

 

Pricing

  • The ARCPA Certification cost is $1,000 and the Certification is valid for 1 year from the day ARCPA grants the certification.
  • The $1,000* is payable to ARCPA once ARCPA accepts the application.
  • This fee is non-refundable if the ARCPA Certification is not successful.

 

ARCPA Certification Version 2 fee increase from 1 January 2018

Further to discussion at the AGM, from 1 January 2018, the fee to apply for the ARCPA Certification program will increase to $3,000 (ex. GST).

  • Certification is valid for 2 years from the day ARCPA grants the Certification.
  • $3,000 must be paid upon application.
  • The onsite assessment must be booked within a month of making the application
  • The fee is not refundable if the applicant is not successful. 
  • If remediation is required, this must be completed within 1 months of the date of the remediation request otherwise a new application will be required. 

 

Members who apply for ARCPA Certification prior to 1 January 2018, must pay the $1,000 (ex. GST) fee by this date.

  • Certification is valid for 2 years from the day ARCPA grants the Certification.
  • $1,000 must be paid upon application.
  • The onsite assessment must be booked by 1 March 2018. If ARCPA cannot book assessment date as a result of the Member not being ready to complete the assessment, the member will forfeit the application fee. ARCPA has allowed until 1 March 2018 as a result of the holiday period. 
  • The fee is not refundable if the applicant is not successful. 
  • If remediation is required, this must be completed within 1 months of the date of the remediation request otherwise a new application will be required. 

The ARCPA Certification fee has increased as a result of the costs associated with the assessment process, to ensure we uphold the quality and completeness of the ARCPA Certification program. 

While we understand it is not possible in all cases for some members, we do encourage all members to apply for certification prior to 1 January 2018.

DOWNLOADS

ARCPA Compliance Best Practice v2.pdf

ARCPA Enhanced Independent Review v2.pdf

Australian Remittance and Currency Providers Association is the National industry body for remittance and foreign exchange businesses. ARCPA represents a significant portion of the industry as general members.

LATEST POSTS

QUICK LINKS

ABOUT
RESOURCES
CERTIFICATION
LOG IN

REACH US

 director@arcpa.org.au
 +61 291998709

Australian Remittance and Currency Providers Association is the National industry body for remittance and foreign exchange businesses. ARCPA represents a significant portion of the industry as general members.

LATEST POSTS

QUICK LINKS

ABOUT
RESOURCES
CERTIFICATION
LOG IN

REACH US

 director@arcpa.org.au
 +61 291998709