Professional Standards News

The CIOT recently attended a briefing provided by the Metropolitan Police which looked at 5 crime indicators for accountants based on recent court cases and investigations.

This guidance has been produced by the CIOT for use by our members and students to help them understand when they might be classified as an intermediary under the UK’s regulations which bring into effect parts of DAC6 due to them being registered as a member or student with the CIOT and when,...

The Taxation Disciplinary Board (TDB) has published for comment a revised and consolidated document ‘Indicative Sanctions Guidance’.

There are a range of things for tax advisers to consider, particularly sole practitioners and principals in small firms, if you have not already done so, to manage office closures, remote working and potential sickness.

CIOT and ATT are aware that members may be minimising physical contact with existing and new clients as part of efforts to reduce exposure to COVID-19.  It may therefore be helpful to have a reminder of how to meet CDD requirements where clients are not met face to face....

Professional Conduct in Relation to Taxation (PCRT) sets out the professional standards that are expected of a member when undertaking tax work. PCRT is a pan-professional document published by seven leading accountancy and tax bodies. As such it represents an ‘industry standard’ about professional behaviour in tax matters. Members must therefore be familiar with, and comply with, PCRT when...

The CIOT and ATT have published their Supervisory Risk Assessment (October 2018).  ...

Members may like to note that updated treasury approved AML Guidance for the accountancy sector (AMLGAS) was issued in March 2018.

The CIOT and ATT issued updated engagement letters guidance on the 2nd May 2018. The update includes some new schedules and the schedules have been updated where required to reflect technical changes. They should also assist members with client engagement letters under the new data protection rules which came into force on 25th May 2018.