Providing guidance on the procedures to be followed when undertaking accountancy assignments in unregulated areas including those for compliance with Anti-Money Laundering obligations
In all professional work there are two main risks: the risk of an error being made; and the risk of that error being overlooked. The former is impossible to eliminate – errors will always be made – but the risk of such errors occurring can be reduced by standardising systems and procedures in line with current best practice.
There are two other risks inherent in accountancy work: the risk of legal action by the client; and of regulatory action by the firm’s professional body. Both of these risks only come into play if the error eludes the control system. The General Practice Package provides organised work methods which will help to keep those risks to a minimum level. It also recognises that the practice is a commercial enterprise, and that the standardisation of systems will improve efficiency. Wherever appropriate, relevant regulations and ethical guidance have also been taken into account.
The package is split into two manuals, one provides standardised non-audit documentation, together with practical checklists and specimen reports and letters. This is the General Practice Procedures Manual. The package also includes example policies and forms for compliance with anti-money laundering obligations and is the Money Laundering Compliance Manual.
The package is suitable for both ICAEW and ACCA member firms.
The General Practice Package provides you with extensive guidance and ready-to-use templates in a range of areas including:
As well as a huge range of guidance, the manual also gives you instant access to over 200 ready-to-use templates, letters and forms, including such things as:
The method of delivery has changed. This package is now accessed within the ‘My Packages’ area of ‘My Account’ and compromises both the General Practice Procedures Manual (GPPM) and the Money Laundering Compliance Manual. The layout and structure of GPPM has been updated and amended and a number of forms and commentary have also been updated. Please see the detail what’s changed guidance included within the product.
We have published a new Money Laundering Compliance Manual. This manual will replace the current version from 1 January 2021; however, both versions will continue to be available until then. The new version has been written based on the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as amended by the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 which came into force on 10 January 2020. At the time of publication, the Consultative Committee of Accounting Bodies (CCAB) guidance has not been issued. When the Treasury approved CCAB guidance is issued, the new version of the Money Laundering Compliance Manual will be updated to reflect any necessary amendments.
The commentary in Chapter 7 was updated to reflect MTD which applies from 1 April 2019. The VAT return control sheet and the VAT return completion questionnaire were similallry amended.
The list of countries with weak AML regimes was updated to reflect the latest list from FATF. A further list of jurisdictions identified as weak by the EU has also been added.
The bookkeeping services letter was updated to include clauses relating to MTD
The P11D completion questionnaire, Business tax computation checklist and Corporation tax computation checklist were updated for changes arising from the Finance Act 2019.
|Initial subscription fee|
|Initial subscription fee: Number of principals - 1*||£395.00|
|Initial subscription fee: Number of principals - 2-9*||£445.00|
|Initial subscription fee: Number of principals - 10-19*||£545.00|
|Subscription renewal: Number of principals - 1*||£395.00|
|Subscription renewal: Number of principals - 2-9*||£445.00|
|Subscription renewal: Number of principals - 10-19*||£545.00|
For 20 or more principals please contact Andy Holton at email@example.com or call 0330 058 7141.
*Mercia Members receive a 10% discount.
All prices are subject to VAT. Prices are subject to change on 1 July.
There is a one-off initial subscription fee for the right to use the service dependent on the number of principals at your firm.
In order to keep you up to date, you will be automatically enrolled in our online update service. Your subscription renewal will be invoiced on anniversary date.
Operating System: Windows, Mac IOS.
Applications: Full version of Microsoft Office or Mac equivalent, PDF Reader.