Disciplinary outcome: Jeanette Knight

1. She did not comply with her obligations under the Money Laundering Regulations in force while providing accountancy and/or related services on a self-employed basis. Specifically, she failed to:
   • have in place any or any adequate procedures to report discrepancies to Companies House concerning persons of significant control in connection to limited company clients and/or limited liability partnership clients; and/or
   • regularly perform and document a firm-wide risk assessment; and/or
   • have in place any or any adequate anti-money laundering (AML) policies and procedures; and/or
   • conduct a regular compliance review of her firm’s AML controls; and/or
   • undertake any or any effective AML training; and/or
   • apply to AAT for approval of a beneficial owner, officer, manager appointments; and/or
   • effectively perform and document client due diligence (CDD) for one or more new clients; and/or
   • adequately perform and document ongoing CDD for one or more existing clients.
2. She failed to hold monies on behalf of one or more clients in accordance with one or more provisions of AAT’s Clients’ Money Policy.
3. She failed to maintain an adequate record of continuing professional development (CPD) activities undertaken as is required under AAT’s CPD Policy.
4. Between 2021 and 2023, she failed to maintain the minimum level of professional indemnity insurance (PII) required under paragraph 5.2 of AAT’s PII Policy.
5. She failed to maintain adequate documentation to evidence compliance with the requirements for independent examination of charity accounts.
6. She failed to issue letters of engagement to one or more clients as required under paragraph 5 of AAT’s Client Care Policy.
    

By reason of the conduct set out in the Allegations above, Jeanette Knight is guilty of misconduct pursuant to Article 21 of AAT’s Articles of Association.

1. Severely reprimanded for a period of three years
2. Fined £4,754
3. Divested of her fellow member status for a period of three years
4. Warned about her future conduct.

The decision of the Investigations Team shall stand as an Order of the Association pursuant to Regulations 5.2 and 5.3 of the Disciplinary Regulations.