The AAT requires members to operate to the highest standards of professionalism and ethics. It is because of this, that we are so highly regarded by employers, businesses and the charitable sector.

You can download our Guidance on Professional Ethics from this page.

Ethics

New interactive ethics case studies

We have developed some exciting interactive case studies covering the most common ethical dilemmas which arise. Why not test your knowledge and understanding of these ethical dilemmas and see how you should deal with them. To go to the case studies, please click here.

The case studies are part of a comprehensive ethics education and support package.  The entire package, which will be available soon, will provide a range of other ethics support services such as workshops and online facilities. We will keep you updated.

AAT Guidance on money laundering

The Office of Fair Trading has requested we disseminate the following information to our members:

Under the Anti-money Laundering Regulations 2007, certain businesses are required to be supervised by the Office of Fair Trading. These businesses are those which are:

• engaged in estate agency work

• consumer credit lenders not authorised by the Financial Services Authority supervised by HM Revenue and Customs as a money services business. 

Businesses that are to be supervised are required to register with the OFT. This will involve completing a registration form and paying a fee. Registration will be launched on 31 July 2009 and businesses we supervise must be on the OFT register within six months of the start of registration; that is by the end of January 2010.

After the initial registration period all new OFT supervised businesses must register before carrying on a relevant business. From 31 January 2010 it will be an offence for a business to carry on its business without being registered. Failure to register could lead to the OFT imposing a civil penalty or taking a prosecution if business is carried on after that date. Prosecution could result in a sentence of up to two years in prison and/or an unlimited fine. 

The OFT recognises the difficult circumstances in which businesses are currently trading, but our AML supervisory work has to be self-funding. Our fees for 2009/10 to be paid for registration have been set at £115 per business premises and are capped at 20 premises. £115 is also the minimum fee for those businesses without premises. 

The registration form and further information are available at: www.oft.gov.uk/mlr

The money laundering regulations 2007 - an overview

Disciplinary process

The AAT's disciplinary process is focused on maintaining public confidence in the accountancy profession and upholding the standards of Conduct & Compliance that we expect from our members. For further information please contact the Conduct & Compliance team on t: +44 (0)20 7397 3008 (outside UK) or e: c&c@aat.org.uk