This page looks at the reforms to Companies House, introduced by The Economic Crime and Corporate Transparency Act, that impact the preparation and filing of accounts. It also signposts to information on other measures contained within the Act.

Proposed amendments to the Companies Act 2006 introduce stringent identity verification for those setting up, running or controlling companies, in a bid to stamp out money laundering via fake identities.

New Companies House regime aims to improve data quality and counter misuse – a timely introduction as banks are on high alert due to a spike in potential fraudulent company filings.

Read ICAEW’s thematic review on the firm-wide risk assessment, our AML Supervision Report or register for an upcoming webinar where the team will discuss the results reported in both publications. We also signpost recent updates including a Companies House timeline for corporate reform, UKFIU publications and changes to the list of high-risk third countries. Other resources include a new AMLbites video and recent webinar recordings.

The money laundering regulations (MLRs) require every relevant organisation to take appropriate steps to identify and assess the risks of money laundering and terrorist financing to which its business is subject. We refer to this as the firm-wide risk assessment. It is the foundation upon which a firm builds its AML policies and procedures, particularly regarding customer due diligence (CDD). We asked the money laundering reporting officer (MLRO) at a sample of 100 high and high/medium risk accountancy firms a series of questions. We also asked for a copy of their most recent firm-wide risk as...

The money laundering regulations (MLRs) require every relevant organisation to take appropriate steps to identify and assess the risks of money laundering and terrorist financing to which its business is subject. We refer to this as the firm-wide risk assessment. It is the foundation upon which a firm builds its AML policies and procedures, particularly regarding customer due diligence (CDD). We asked the money laundering reporting officer (MLRO) at a sample of 100 high and high/medium risk accountancy firms a series of questions. We also asked for a copy of their most recent firm-wide risk as...

This guideline explores the what, why, who and how of performing effective financial due diligence (FDD) and the outcomes it should achieve. It considers how FDD interacts with other areas of due diligence and how rapidly evolving technology, including artificial intelligence (AI), is reshaping the FDD process.

Cyber Security Awareness Month: Attendees at ICAEW’s annual cyber lecture learned about the government’s moves to tackle cybercrime, and how personal digital footprints can leave businesses vulnerable.

Cyber Security Awareness Month: we consider the common cyber risks around data sharing and what processes, procedures and measures should be taken to mitigate them.

Recent business shutdowns have shown how fraudsters can impersonate directors and brands – but experts say that planned Companies House reforms won’t solve the problem.

Cyber Security Awareness Month: Cyber threats are changing all the time, putting pressure on companies to educate staff effectively. But what is the right amount of training and what sort of tone should it take?