The guidance has been put forward for approval by the Treasury before it is published in final form but the interim details have been released so that auditors have the most up-to-date advice from the APB during the early stages of implementing the new legislation.
‘The new anti-money laundering legislation will have a major impact on auditors,’ said Richard Fleck, chairman of the APB. ‘Although the scope of the audit has not changed it is likely that the expanded definition of money laundering will cause auditors to report a large number of suspicions.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements