MIP Review Visits

PeterC
PeterC Registered, Tutor Posts: 243 Dedicated contributor 🌟 🐵 🌟
in General accounting discussion
I've heard that AAT practices are inspected by ICAEW. Is that correct?

Comments

  • MarieNoelle
    MarieNoelle Moderator, MAAT, AAT Licensed Accountant Posts: 1,369
    Yes the reviews are carried out by the ICAEW.
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    What would the ICAEW check?

    I think:
    1) up to date signed proof of id and proof address
    2) risk assessments done for each client
    3) signed letter of engagement
    4) licence areas on practising certificate vs areas actually offered to client
    5) ico registration and from 25th may gdpr
    6) security, e.g. secure portal, passwords, taking backups on external hard drive or cloud storage
    7) working paper files/correspondence file for each client/tax
    8) 64-8's
    9) complaints procedure
    10) clearance letters for clients changing accountants
    11) practice management

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