A suspicious activity report (SAR) is a way of notifying law enforcement about a client or behaviour that appears to be suspicious and potentially related to money laundering or the financing of terrorist activities.
Technical factsheet: ACCA anti-money laundering (AML) monitoring review process
The ACCA monitoring review arrangements are designed to protect the public interest by ensuring ACCA-supervised firms are putting the right systems and controls in place to comply with money laundering regulations.
Technical factsheet: treatment of benefits in kind – P11D guidance
There are special rules relating to certain kinds of benefit. However, in the absence of specific rules, the methods ‘cost to the employer’ and ‘money’s worth’ can be used to calculate the taxable value of benefit in kind.
Technical factsheet: Engagement letters for practitioners – accounts production
Engagement letters for practitioners – accounts production, issued in May 2020, provides engagement letters, guidance notes to the appendices, covering letter, privacy notice, schedules of services, standard terms and conditions of business and disengagement letter wording.
Engagement letters for tax practitioners, issued in April 2018, provides guidance to tax practitioners about engagement letters for tax work. This has been supplemented by a schedule of services: Making Tax Digital for VAT (MTDfV).
Technical factsheet: the money-laundering reporting officer
The Proceeds of Crime Act 2002 (POCA) requires the appointment of a “nominated officer” to ensure that information leading to knowledge or suspicion of money laundering is disclosed appropriately to the authorities.
Technical factsheet: anti-money laundering (AML) policy and procedures
This factsheet will help shape your firm’s AML policy and procedures. You must consider the Money Laundering Regulations 2017 (MLR 2017) and the CCAB’s Anti-Money Laundering Guidance for the Accountancy Sector.
Technical factsheet: FRS 102 – reporting for medium-sized and large entities
This technical factsheet has been updated to incorporate the results of the triennial review carried out by the Financial Reporting Council in 2017, which impact entities for accounting periods starting on or after 1 January 2019
Brexit impact on recognition of the ACCA Qualification for access to EEA-regulated roles
The details of Brexit are still uncertain and we want to reassure you that ACCA is working to manage the impact of Brexit on members who wish to gain access to regulated roles in European Economic Area (EEA) states.
The Payment Services Regulations 2017 (PSRs 2017) came into force on 13 January 2018 and are now the main piece of legislation governing payment services in the UK. PSRs 2017 bring the European Payments Law, known as PDS2 (second Payments Directive), into UK law.
Technical factsheet: guidance on access to information by successor auditors
Guidance on the procedure expected to be followed by ACCA members and member firms whenever the office of statutory auditor changes (and access to information held by the predecessor auditor) is sought.
Guidance on winning business and accountancy awards
In the ACCA awards factsheet you can find guidance on the attributes of a good awards entry, how to maximise the impact of entering and some of the awards firms may wish to enter. Practitioners may also wish to help clients enter awards.
Email security issues are some of the biggest threats to productivity and profitability. This factsheet, produced in partnership with Barclays, looks at the risks and examines the pros and cons of various security methods.
Determining a person’s employment status has been a contentious legal issue since the middle of the 20th century. Although current cases have tended to focus on employment rights, there is a large body of case law around tax, and the principles applied are not always entirely consistent, which adds to the difficulty.
Technical factsheet: Disciplinary, dismissal and grievance procedures
It is very important for employers to ensure that they follow a good procedure in disciplining and dismissing employees. If a fair procedure is not followed, a dismissal is likely to be unfair, no matter how good the employer’s reason for terminating the employment.
Staff sickness may be a considerable burden on a business, leading to additional staffing costs and increasing the workload for other workers. While all employers would want to support members of staff who are unwell, sickness absence must be managed otherwise it can cause problems in the workplace.
Every relationship between an employer and an employee is governed by a contract of employment, which is an agreement setting out their mutual obligations. The contract starts as soon as the employee starts work, and if there are no written terms, the parties’ obligations are implied by looking at how the parties conduct their relationship on a day-to-day basis.
The law in relation to age discrimination is covered by the Equality Act 2010. All employees and workers are covered, as well as those accessing vocational training, including job applicants and people who have left their job (and, for example, have not received a reference).
The Working Time Regulations were introduced in 1998 to give effect to the European Working Time Directive. They are a health and safety measure, primarily intended to ensure that working hours are limited, proper breaks are taken and that workers receive paid holidays. We do not know what impact Brexit will have on these regulations as the government will be free to repeal them if it chooses to do so. It is thought to be unlikely that there will be a wholesale repeal, but there may be some elements that are less popular with government and employers, and which may be subject to change.
The law recognises the right of an individual worker to be treated equally with others regardless of personal characteristics that should be irrelevant in decision-making, such as sex or race. These are known as ‘protected characteristics’. This area of law is about trying to prevent employers making choices that are detrimental to someone at work for reasons that are unlawful.
The settlement offer was introduced by s111A of the Employment Rights Act 1996 to provide a new tool to assist employers to resolve issues at work. The offer and the subsequent discussions between the employer and the employee can result in them concluding a settlement agreement by which the employment is terminated in a mutually acceptable way.