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 returns from the Sage Future user conference in Atlanta and spills all. He shares Sage’s artificial intelligence insights, classified into waves, and explores what each means. While discussing tech adoption, he argues that it’s not all about the technology, explaining other ways to get the attention of customers. 

Richard Hattersley reflects on the government's spending review. While no tax changes were announced, he talks about the document confirming a £500m investment in HMRC’s digital services. Alongside this, another document was released: Tax Policy Making Principles. Hattersley explains the concept of this document, its principles and whether they’ll remain unbroken.

Matthew Ord closes the podcast with a look at private equity’s presence in audit. He recalls his chat with CEO Bruce Cartwright on why audit quality must stand apart from private equity’s influence. The team discusses the fine balance that the profession needs to get right seeing as both private equity and audit have come under scrutiny.


No Accounting for Taste ep191: Tech adoption isn’t all about the technology

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 ep191: Tech adoption isn’t all about the technology

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