Professional Ethics - conflict between Ethics code & MLR ?
Options
Mikepullen
Registered Posts: 4
Hi.
Para 160.10 part (ii) (a) of the AAT ethics code says that a member in business who has not acted in relation to an error or admission on a return to HMRC is NOT obliged to report the matter to the authorities.
At the same time, the Money Laundering Regulations 2007 say that for people working in the regulated sector, they have a duty to report if they know or suspect that Money Laundering activities were taking place.
Is this a conflict, or do the MLRs only apply to members in practise in this instance ?
Para 160.10 part (ii) (a) of the AAT ethics code says that a member in business who has not acted in relation to an error or admission on a return to HMRC is NOT obliged to report the matter to the authorities.
At the same time, the Money Laundering Regulations 2007 say that for people working in the regulated sector, they have a duty to report if they know or suspect that Money Laundering activities were taking place.
Is this a conflict, or do the MLRs only apply to members in practise in this instance ?
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.4K For AAT students
- 264 NEW! Qualifications 2022
- 144 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 45 AAT Level 3 Diploma in Accounting
- 66 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 268 VAT
- 90 Software
- 271 Tax
- 133 Bookkeeping
- 7.1K General accounting discussion
- 195 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 578 Job postings
- 16 Who can benefit from AAT?
- 35 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership