As accountants feel the pressure over increased scrutiny of their AML reporting, the Treasury has tabled a new consultation that is set to overhaul anti-money laundering supervision as we know it.

The Treasury have put forward four new ideas that could potentially reform the supervision of accountants and lawyers' compliance with money laundering regulations.

The options ranged from bolstering the current supervisors of supervisors OPBAS to the more extreme option of stripping the professional bodies and HMRC of its supervision responsibilities and creating a brand new supervisor - the one supervisor to rule them all.

On this week's podcast, David Winch explores the four potential reforms and offers advice to accountants anxious of upcoming changes. 

Also on the pod, the AWEB team discuss ICAS' recent review of MTD for ITSA and its call to scrap the controversial project's decision  on quarterly reporting, as well as taking a closer look at AI and asking: is this new technology a friend or foe when it comes to tax? 

Podcast speakers:
Richard Hattersley
Tom Herbert
David Winch

Producer/editor:
Will Cole

Cinematic + Bright

No Accounting for Taste ep 142: AML, AI and MTD

Tom Herbert’s busy schedule has taken him to NetSuite’s SuiteWorld in Las Vegas and Accountex North in Manchester. He talks about how they were, any similarities or differences and the big topics from the show floor. 

After a couple weeks off interrailing, Richard Hattersley returns to the podcast with some insights on dealing with unscheduled work calls on holiday. The team shares their thoughts on whether people should stop ringing unannounced and the importance of setting boundaries. 

Lastly, Matthew Ord discusses a report from the ACCA and Chartered Accountants ANZ, in association with PwC about why chief financial officers only have five years to adapt to rapidly changing demands or face becoming obsolete. They look at what this means for finance teams and what needs changing.

No Accounting for Taste ep172: Accounting events, unscheduled calls and CFOs

AccountingWEB’s business editor Tom Herbert speaks to Karen Briggs, KPMG’s new head of Brexit, about forecasting in uncertain times, what the firm is advising their clients and what a head of Brexit actually does...

No Accounting for Taste ep172: Accounting events, unscheduled calls and CFOs

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