ACCA Compliance review questionnaire

Transcription

1 ACCA Complance revew questonnare Frm s name: Contact partner: Frm s ref / vst ID Audt certfcate: Y / N Answer all of the questons. Some requre only a yes or no, others requre more detal. Some addtonal nformaton wll need to be returned wth the completed questonnare as detaled n the relevant sectons below. If there s nsuffcent space n any secton, please contnue on a separate sheet referenced to the relevant secton. Please note that ths questonnare relates to the frm named above only. If you or your co-partners/drectors are prncpals n other practsng frms please lst the frms below SECTION A - Undertakngs Please read the followng statements carefully before sgnng the declaraton at the end. If you are unable to gve, n whole or part, any of the undertakngs, select not confrmed from the drop-down menu and provde a full explanaton below. 1 Audt work *Delete as approprate I confrm that, n relaton to the frm ths questonnare s addressed to, nether I nor any other partner or drector of ths frm carres out any audts as a regstered audtor. I am aware of the requrement for UK and Irsh lmted companes and certan other enttes to be audted only by a regstered audtor (PR 5). 2 Reports to regulators I confrm that nether I nor any other partner or drector of ths frm provdes any reports to regulators n respect of other clents for whom a regulatory or smlar certfcate s requred (e.g. to the Fnancal Conduct Authorty, the Solctors Regulaton Authorty or ABTA / ATOL or on a Housng Assocaton, Credt Unon or regstered charty). 3 Future appontment I confrm that I wll notfy ACCA, n wrtng, mmedately f I, or any frm n whch I am a prncpal, accepts any audt appontment or appontment to provde a report to a regulator n the future. Confrmed / Not Confrmed * Confrmed / Not Confrmed * Confrmed / Not Confrmed * If you are unable to answer confrm any of the above statements, please explan why below: Page 1 of 10

2 SECTION B - Complance wth practsng regulatons Where a queston relates to a matter whch s mandatory under ACCA's Global Practsng Regulatons (GPRs) the relevant reference s stated. References to a Practsng Regulaton (PR (UK)(IRE)) are to the regulatons n Annex 1 to the GPRs, applcable to frms n the UK, Channel Islands and Isle of Man and Annex 2 to the GPRs, applcable to frms n the Republc of Ireland. The onlne verson of ACCA's rulebook can be accessed on the webste: 1 Control - PR 8 (UK/IRE) Are you a sole practtoner? If you are not a sole practtoner, please provde a copy of the frm s partnershp agreement or the latest annual return. If your frm s a regstered audtor and s a lmted company, t needs to demonstrate that, even f the audt qualfed ndvduals have control of the shares of the frm, they also control the board of drectors (PR 8(c)) Please provde a copy of the board agreement or mnute showng that the audt qualfed ndvduals have the castng vote at any meetngs of the board of drectors. / N/A Has ths been provded? If you are not a sole practtoner please provde detals of all the prncpals n the frm ncludng names, qualfcatons, offce (partner or drector) and votng control/shareholdng. Name Qualfcaton Offce * Delete as approprate Votng control/shareholdng Partner / Drector* Partner / Drector* Partner / Drector* Partner / Drector* Partner / Drector* 2 Ftness and proprety - GPR8 / PR13(UK) / PR11(IRE) How many professonal staff (excludng the prncpals) do you employ and how many subcontractors do you use the servces of: Staff Subcontractors Are you aware of anythng whch would potentally affect the ftness and proprety of: Yourself Your partners/co-drectors Your staff Your subcontractors Do your staff and subcontractors sgn a declaraton that they are ft and proper v Is ths updated annually Page 2 of 10

3 v v If not, how often Are your staff and subcontractors requred to sgn a statement agreeng to keep clent affars confdental Are ftness and proprety and confdentalty condtons of employment, whch are ncluded n a contract of employment 3 Professonal ndemnty nsurance (PII) - GPR9 / PR14(UK) / PR12(IRE) Enter relevant dates here What was the total ncome of your frm for ts last two accountng years Y/end xx/xx/xx Y/end xx/xx/xx What s the hghest cumulatve amount of fees rased to a partcular clent durng each of these years? Have you had a clam from a clent n the last sx years If yes, please provde detals v Are you aware of any current complants from clents whch may result n a clam v Has there been any gaps n PII coverage If so, please explan 4 Contnuty of practce - GPR11 / PR16(UK) / PR13(IRE) Have you made provson for the contnuty of your practce n the event of your death or ncapacty Is the agreement Wthn your frm Wth another frm of accountants Provde name Is ths agreement n wrtng 5 Notfcaton (GPR 12 / PR17(UK) / PR15(IRE) Are there any other matters that requre notfcaton to ACCA under the regulatons If you have answered yes, please provde the detals below Page 3 of 10

4 6 Conduct GPR13 / PR18(UK) / PR16(IRE) To be completed by all frms holdng audtng regstraton only. If your frm has audt regstraton, even f you do not currently hold audt appontments, you are requred to comply wth the Internatonal Standard on Qualty Control 1 (ISQC 1) and have wrtten procedures n place coverng the followng areas. Do you have wrtten procedures n place that comply wth ISQC1? Explan how you have dealt wth each of the followng areas set out n ISQC 1 Engagement acceptance and contnuance Human resources Engagement performance Montorng Page 4 of 10

5 SECTION C Complance wth Code of Ethcs and Conduct (CEC) 1 Integrty, objectvty and ndependence and conflcts of nterest (CEC - sectons 110, 120, 220 and 290) Are there any clents that pose a threat to your frm's beng, or beng seen to be, ndependent, such as: a Recurrng fees at or above 15% of total fees b Long overdue fees c Ltgaton nvolvng clents d Famly or busness relatonshps wth clents e Shareholdngs or trustee shareholdngs n a clent's company f Recevng gfts, hosptalty or favourable terms from your clents g Involvement n your clents busness to the extent of beng a shadow drector h Tght reportng deadlnes mposed on you by your clent Unproftable or fxed fee jobs j Other If other threats, please gve detals If you have answered yes to any of the above, please gve detals of any safeguards you have put n place, or explan why you do not consder that your frm's ndependence to be threatened. Page 5 of 10

6 2 Money launderng (CEC - secton B2) Money launderng s the process by whch crmnals attempt to conceal the true orgn and ownershp of the proceeds of ther crmnal actvty, often wth the unwttng assstance of professonals such as Accountants and Lawyers. Who s your frm s Money Launderng Reportng Offcer (MLRO)? Has a Money Launderng Reportng Offcer (MLRO) been formally apponted What nternal controls have you establshed and recorded to ensure that anyone wthn your frm who suspects money launderng knows how and who to report to v What tranng and gudance are staff gven to ensure that they are able to dentfy unusual transactons wthn a clent s busness and s ths knowledge updated regularly (Ths apples to all staff and subcontractors who have any contact wth clents) v How do you verfy new ndvdual clents denttes v How do you verfy new corporate clents denttes v What procedures do you have n place to carry out customer due dlgence to montor the busness relatonshp and to keep your knowledge of the clent up to date (ncludng verfyng denttes of exstng clents) *Gudance: a PEP s a person who s or has, at any tme n the precedng year been entrusted wth a promnent publc functon by a state other than the UK; a communty nsttuton or an nternatonal body or a famly member or known close assocate of such a person. [Examples of PEPs heads of state and government, members of parlaments, ambassadors, hgh rankng offcers n the armed forces] v Does your frm act for any Poltcally exposed persons (PEPs)* x Even f you beleve you currently have no PEPs, please explan how you dentfy f a clent s a Poltcally exposed persons (PEPs). x Should you accept a PEP what addtonal due dlgence procedures would you have n place for them. Page 6 of 10

7 x What records do you keep for the followng : Staff tranng on MLR ssues Confrmaton of Clent denttes Customer Due dlgence Internal reports to MLRO How long do you keep the above records for? x x Who (external body) should the frm report any suspcons to Defne Tppng off and explan the ramfcatons. 3 Professonal appontments (CEC - secton 210) Does your frm always obtan professonal clearance before startng work on a new clent s affars If no, please explan your procedures below 4 Engagement letters (CEC - secton B9) Do you ssue engagement letters to all your clents If no, please specfy whch categores of clents you have not ssued engagement letters to: 5 Clent money (CEC - secton 270) Members n practce are strctly accountable for all clents mones whch they receve and are requred to comply wth the requrements set out n ACCA s Code of Ethcs and Conduct. Do you receve money from thrd partes or hold money on behalf of your clents v v Do you make payments to thrd partes on behalf of your clents If yes, to ether of the above, approxmately how many transactons have there been n the last 12 months Do you have a desgnated clent bank account wth the word clent n the ttle Does the bank have the rght to set off balances on ths account aganst balances on your offce accounts Page 7 of 10

8 v v v What records do you keep of transactons n your clent bank account How often do you reconcle the clent account How often do you analyse the balance between clents x Are any clent tax refunds pad nto the offce account SECTION D Complance wth Desgnated Professonal Body Regulatons (DPBRs) To be completed by frms resdent or conductng busness n the UK only 1 Does your frm undertake any of the followng actvtes Regulated mortgage work Long term care nsurance (LTCI) Other (.e. non LTCI) nsurance medaton v Non-nsurance based ncdental nvestment busness v If you answered yes to any of the above, please provde detals 2 Does your frm offer fee protecton nsurance to your clents If the answer s yes, please answer the followng questons: Does the nvoce show VAT or IPT Where are the bank account recepts, n the offce account or clents account? Who makes the clam; the frm or the clent? 3 Does your frm earn any commsson from nvestment busness related servces If the answer s yes, when and how do you nform your clent 4 Even f you are not regstered for DPBRs, explan what you do f a clent asks your frm for advce on an nvestment busness related matter Page 8 of 10

9 SECTION D Irsh Investment Busness Regulatons (IIBRs) To be completed by frms resdent or conductng busness n the Republc of Ireland only 1 Does your frm advse on, or arrange transactons that are regulated under the Irsh Investment Busness regme? Ths wll nclude advsng or arrangng transactons on any of the followng products: Lfe assurance polces, ncludng pensons; non-lfe nsurance polces; personal retrement savngs accounts; unt trusts; collectve nvestment scheme nstruments; lsted shares and bonds; tracker bonds; prze bonds; bank deposts; flm nvestments; or BES nvestments. If you answered yes to the above, please provde detals SECTION E General nformaton 1 What s your frms expected fee ncome for the current year? 2 How many staff do you employ n total ncludng subcontractors? 3 Please ndcate whch of the followng servces you provde and an approxmate percentage for each (accumulatng to 100%) Accounts prep % Audt % Reports to regulators % Company tax complance % Personal tax complance % Payroll & related tax complance % VAT/sales tax complance % Bookkeepng servces % Management accounts % Consultancy, busness advce and tax plannng servces % Projectons, cash-flows and budgets % Due dlgence work % Share Valuatons % Other servces please gve detals % % % Page 9 of 10

10 ATTACHMENTS Please ensure you have submtted the followng copy documentaton to emal to ACCA: 1a 1b If you are not a sole practtoner, the frm s partnershp agreement or the latest annual return as evdence of control of the frm. If your frm s lmted company and a regstered audtor, a copy of the board agreement or mnute, as evdence that audt qualfed prncpals have the control over the matter. / N/A / N/A 2 A copy of the frm s letterhead 3 A copy of the current schedule of cover for your frm s professonal ndemnty nsurance (PII) 4 A copy of the full PII polcy 5 A copy of the last PII proposal form you completed Detals of any clams or matters notfed to your nsurers n the last sx years A copy of the wrtten contnuty agreement, partnershp agreement or memorandum and artcles of assocaton as relevant to the contnuty arrangements you have n place An example of an engagement letter for each of a corporate and a noncorporate clent. / N/A Please fnd the lnk to the ACCA Montorng best practce revew questonnare n the cover emal. Completon of the questonnare s mandatory. Please confrm f ths has been completed. If no provde a reason why not. Emal ths completed questonnare, together wth the copy documentaton you have prepared to: qualtychecked@accaglobal.com SECTION F Declaraton By submttng ths form to the ACCA I confrm that the nformaton I have provded above and that ncluded n the enclosures s true, accurate and complete to the best of my knowledge and belef. Name: Poston n frm: Name of frm: Date: If you have any further nformaton you wsh to dsclose please do so n the box below Page 10 of 10