MIP Review Visits

PeterC

I've heard that AAT practices are inspected by ICAEW. Is that correct?

MarieNoelle

Yes the reviews are carried out by the ICAEW.

reader

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