Know Your Client Questionnaire for ML Purpose

Know Your Client Questionnaire for ML Purpose

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I have a very part time practice and my clients are mainly small companies and their owners, for whom I prepare Statutory Accounts and Tax Returns (SA & CT).

Does anyone have a simple "Know Your Client" checklist to be used each time I take on a new client, as evidence that I have carried out the relevant checks etc as required by the Money Laundering legislation?

Many thanks

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By Roland195
31st Jan 2011 11:54

I wouldn't go with a checklist

I find the checklists I have come across cumbersome and onerous (like most of the checklists we use in accountancy) that provide no real benefit (if you listen carefully, you can hear David Winch drawing breath here).

Your institute will not be impressed with half completed, half hearted ticks in boxes which is what you will probably end up with.

 

 

 

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By webs123456
31st Jan 2011 12:08

Know Your Client ML Checklist

Thanks Roland, so what do you suggest I use instead of a formal checklist? I want to ensure I am covering all relevant points and can prove I have done so, if asked at a later date. Thanks webs123456.

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