Accountants have filed just 100 ‘short form’ reports each month since the changes in March, in contrast to a 60% increase in submissions across all sectors. A spokesman confirmed that there had been ‘no significant increase’.
The news will cause great concern to the profession, whose members can now be jailed for failure to report. It will also disappoint legislators, who introduced the changes partly to tackle perceived auditor apathy on the issue. But last week accountancy bodies expressed surprise at the picture painted by NCIS. A spokesman for ACCA said: ‘This is the number one topic of calls to our advisory section; many have resulted in reports being made.’
The ICAEW and CIMA also insisted members were complying. David Cafferty, chairman of CIMA’s fraud and risk management group, demanded better feedback from NCIS. ‘There’s a fear the reports will go into a black hole and the profession will think, “what’s the point?”‘ he said.
One expert warned the majority of accountants might not have grasped the extent of their responsibilities. David Winch said the average accountant might describe as commonplace ‘over-estimation’ for tax purposes.
Yet, he added, ‘ask him if any of his clients were engaged in money laundering and he might laugh at you.’
NCIS said that the reports might come later in the financial year as ‘a natural function of accounting practices’.
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting
Richard Lewis has been appointed to the firm's restructuring and recovery services team