AML policy and firm-wide risk assessment for accountants and bookkeepers
If you provide accountancy, bookkeeping, payroll or tax services by way of business, the Money Laundering Regulations apply to you, whether you are supervised by HMRC or by a professional body. You need a written risk assessment of your practice and written policies, controls and procedures.
Pay securely by card. You answer the questions straight after.
What your documents need to address
Accountancy services can lend credibility to the proceeds of crime, for example where accounts or tax returns are prepared from false records. You also see your clients' transactions, which puts you in a good position to notice when something does not add up.
Your documents deal with the points that matter for a firm like yours:
- Clients with cash-intensive businesses or poor records
- Whether you hold client money
- Company formation and registered office services, if you offer them
- Clients you take on without meeting them
- The privilege reporting exemption and when it applies
Two documents written around your firm
AML policy£99
Your firm's policies, controls and procedures in one document, written around how your firm works.
Firm-wide risk assessment£199
A written assessment of the money laundering and terrorist financing risks your firm faces, based on your sector, clients, services and how you deal with them.
Editable Word files
Yours to adopt, change and keep up to date.
A guidance note
What the documents cover and what to put in place next.
What we ask you
You answer a set of questions about your firm. They include:
- Which services you provide and to what kinds of client
- Whether you hold client money or accept cash
- Whether you form companies or provide a registered office
- Who your Money Laundering Reporting Officer is
- How you check identity and screen for sanctions
- Whether any clients are based overseas or are politically exposed persons
- How you train your people and keep your records
Four steps
- Choose and pay. Pick your documents and pay securely by card.
- Answer the questions. You go straight to them after paying. They take about 20 minutes.
- We write and review. Your documents are written around your answers and read by a person.
- You receive your documents. Within 3 working days, or 6 working hours with express.
A sound starting point, not a guarantee
These documents give you a written policy and risk assessment that reflect your firm today, so you are not starting from nothing. They are a stop-gap until you have something fuller. They don't review your client files, train your staff, reply to your supervisor or audit your firm.