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

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...

Karen Briggs head of Brexit KPMG

We’re good neighbours here on the No Accounting for Taste podcast. So when we heard PKF Francis Clark opened a new Bristol office, we did the neighbourly thing and invited its managing partner Mike Lea into the pod booth to talk all things accountancy.

Lea joined host Richard Hattersley and pod regulars Francois Badenhorst and Tom Herbert to discuss the last seven days in accountancy, including Making Tax Digital and penalties, SportsDirect and the quality of audits.

For links to all the stories featured and full show notes visit: https://www.accountingweb.co.uk/business/finance-strategy/no-accounting-for-taste-ep46-how-do-you-solve-a-problem-like-audit

No Accounting for Taste ep46: How do you solve a problem like audit?

AccountingWEBUK

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