Practice Compliance
Discover how to comply with practice management regulations set by your professional body and come through practice monitoring or assurance visit. Exploring regulatory frameworks, non-compliance sanctions, client onboarding and offboarding procedures, and CPD management.
£150 +VAT
Practice Compliance
£150 +VAT
365 days’ access
This course will enable you to
- Ensure your practice is compliant with all the relevant regulations.
- Achieve top ratings in assurance and monitoring visits from your professional body.
- Demonstrate the highest standards of professional conduct.
- Take a risk-based approach to challenges such as money laundering.
- Consider the ethical requirements of onboarding new clients and saying goodbye to old ones.
- Use CPD to keep up-to-date and relevant in a fast-paced world.
About the course
Professional accountants are regulated by their professional body, both at individual level and at the firm level. So, it’s important for accountants to understand the regulations that they are being asked to comply with and keep up to date with the changes.
This course outlines these rules, as well as providing information detailing what may happen if an accountant falls foul of them. You’ll consider the issue of practice compliance in three different segments – the role of the professional body, the procedures for onboarding and offboarding clients, and the monitoring and management of CPD. Discover why understanding all of these elements is crucial to maintain a healthy, productive practice.
Contents
Practice assurance
The role of professional bodies
Who’s regulating you?
Regulatory regime and sanctions
Under scrutiny
The review
Preparing for a monitoring visit
Approach to the monitoring visit
Common deficiencies
Onboarding and offboarding clients
The engagement process
Due diligence
Anti-money laundering requirements
Firm-wide risk assessments
Dealing with disagreements
Walking away
Resigning from a client
Monitoring and managing CPD compliance
The importance of CPD
Keeping on top of it
CPD activities
It’s all in the application
Monitoring CPD activity
Following the rules
Author
Steve Collings
Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA”s Practice Network Panel.
10 reviews for Practice Compliance
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Rob Vaughan –
Pretty much what I expected.
Rob Mcilvaney –
good refesher update
Zia Ullah –
Audit Regulations Proportionality in AML Regulations Tipping off Unqualified accountants etc.
Gill Holden –
A Good general reminder
Raheel Hasan –
Overall It was a good course however I was expecting a lot more material geared towards practical tips on making the practice compliant. There could have been another module to cover this where firms have had compliance issues dealing with various type of taxes for example VAT, CT or IT.
Sarah Craig –
It made a very complex issue within accounting interesting and broke everything down into bite size chunks, making it easier to understand and implement in your own practice.
Marie O’Hagan –
Very interesting course.
Louise Matthews –
The content was concise, relevant and easy to read. Its my first time completing one of these courses and it would have been helpful if at the beginning it was made clear how long each section should take
Brent Howe –
A bit more focus and reference to specific standards would be useful. In general a helpful unit.
Christine Pratt –
very relevant and informative