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Practice Manual

piratepirate Trusted RegularRegistered Posts: 469
does anyone have any recommendations for a good practice manual which includes MLR
thats for the AAT

Have looked a SWAT and it seems quite good but would welcome any suggestions



  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    AAT issue their own MLR toolkit if you are regulated by them for MLR
  • piratepirate Trusted Regular Registered Posts: 469
    Hi Monsoon

    currently not an MIP as waiting for my distance learner to mark my final paper then will have to apply for MIP.
    So am a student member, AAT can't give me any guidance as I am not an MIP fair enough really.
    I am setting up but I am not on my own have lots of people to help me so won't be doing anything without approval, my help suggested getting an manual for all the latest and greatest although a bit overkill really as we have got all the other bits for a PM.

    thanks anyway

    sorry for posting here as a student member but I thought you practising guys might have some guidelines
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Ah ok I see.

    TBH MLR is pretty straightforward.

    Get suitable ID for all clients.
    Do a risk assessment on each client - the majority of anyone we deal with is low risk.
    If you have a reasonable suspicion of money laundering incl tax evasion you have to submit a report (a SAR) to SOCA.

    That's it in a nutshell.

    Do look at Any Answers on AccountingWeb and look out for posts by David Winch who is an expert. You can also join the MLR discussion group and read more on it there.
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