Anti-Money Laundering Regulations

The Institute of Financial Accountants is one of twenty-two organisations granted supervisory authority by HM Treasury in accordance with theĀ Money Laundering Regulations 2007.
These Regulations state that all persons offering accountancy related services who are not members of one of the supervisory authorities must pay to be regulated by HM Revenue and Customs.
HM Revenue and Customs will not register a member of the IFA or any other organisation which has been granted supervisory authority.
Severe penalties may be imposed on anyone failing to comply with the legislation.

The designated professional bodies that act as supervisory authorities are;

  • Association of Accounting Technicians
  • Association of Chartered Certified Accountants
  • Association of International Accountants
  • Association of Taxation Technicians
  • Chartered Institute of Management Accountants
  • Chartered Institute of Public Finance and Accountancy
  • Chartered Institute of Taxation
  • Council for Licensed Conveyors
  • Faculty of Advocates
  • Faculty Office of the Archbishop of Canterbury
  • General Council of the Bar
  • General Council of the Bar of Northern Ireland
  • Insolvency Practitioners Association
  • Institute of Certified Bookkeepers
  • Institute of Chartered Accountants in England and Wales
  • Institute of Chartered Accountants in Ireland
  • Institute of Chartered Accountants of Scotland
  • Institute of Financial Accountants
  • International Association of Book-keepers
  • Law Society
  • Law Society of Scotland
  • Law Society of Northern Ireland