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AML - Sole Practitioner ICAEW

What is required in terms of AML checks and procedures as a sole practicioner?

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Hi

I am a sole practicioner just starting up. ICAEW qualified with a PC. 

Wanted to ask what do others do in relation to AML procedures and checks? Do I have to have documented procedures? What checks do you do on new clients? 

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By Accountant A
07th Feb 2019 12:53

Have you asked the Institute? Presumably they have guidance?

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By rnt1990
07th Feb 2019 13:02

I intend to. Just wanted to see what others currently do.

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By SteLacca
07th Feb 2019 13:40

Don't ask them anonymously, though.

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By rnt1990
07th Feb 2019 13:50

Ha.

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By grahambonds
07th Feb 2019 13:13

Have a look at Mercia Group's compliance manuals

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By Maslins
07th Feb 2019 13:45

AML is a big topic. In terms of new client checks, we use Taxcalc's AML feature.

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By gainsborough
07th Feb 2019 14:36

ICAEW also publish a checklist which is a good starting point https://www.icaew.com/-/media/corporate/files/technical/legal-and-regula...

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