Disciplinary outcome: Shannon McDonald

1. She did not comply with her obligations under the Money Laundering Regulations in force while providing accountancy or bookkeeping services on a self-employed basis. Specifically, she failed to:
   • conduct a regular compliance review of her firm’s anti-money laundering policies, controls, and procedures; and/or
   • effectively perform and document client due diligence (CDD) for one or more clients; and/or
   • perform and document ongoing CDD for one or more existing clients.
2. She failed to issue letters of engagement to one or more clients in full compliance with paragraph 5 of AAT’s Client Care Policy.
3. She failed to have professional indemnity insurance (PII) in place as required under paragraph 5 of AAT’s PII Policy.
   
    

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

1. Reprimanded for a period of two years
2. Fined £2,000
3. Deemed ineligible to hold fellow member (FMAAT) status for a period of two 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.