Overpaid Invoices and AML

In several recent blogs we looked at some examples of money laundering in practical day to day business life. Here are some more examples from the latest Consultative Committee of Accountancy Bodies (CCAB) AML Guidance released on 4 March 2022. Some customers of your client have overpaid their invoices. The client retains overpayments and credits… Read More


New AML Guidance from the CCAB-I

On Friday 4 March 2022 the Consultative Committee of Accountancy Bodies in Ireland (CCAB-I) issued updated guidance applicable to accountants in practice for immediate use. The Guidance is a widely respected and hugely valuable document among accountants as it sets out the minimum criteria that must be adhered to in order to comply with the… Read More


New Style Cuckooing

Have you checked what companies are registered at your office address, lately? Well, maybe now is a good time! Police sometimes describe the practice by which drug dealers take over someone’s home (often a vulnerable person) as a base for their activities as ‘cuckooing’. It now appears that this phenomenon has ‘come home to roost’… Read More


Proposals to Change the Law for Co-Operatives

There is currently no specific modern legislation dealing with co-operatives in Ireland. The Industrial and Provident Societies (IPS) Acts 1893-2021 come from another century and do not mirror up to date company law principles. Currently there are 960 Industrial and Provident Societies registered, comprised mainly of various agricultural co-operatives, group water schemes and housing co-operatives.… Read More


Non-Payment of Tax and AML

In last week’s blog we looked at the CCAB case study on incomplete records. This week we look at the potential AML problems that arise when a client doesn’t pay their payroll taxes and VAT (suitably edited for local Irish legislation). The pandemic crisis has put strain on the cashflows of many businesses. This note… Read More



Missing Trader and AML

Practicing accountants are probably very well aware of the fraud known as MTIC (or Missing Trader Intra Community), but it’s good to be reminded of the scenario that can present itself when suspicions of MTIC fraud ought to be aroused. The CCAB (Consultative Committee of Accountancy Bodies) has recently published some Case Studies on money… Read More


Derby County Football Club Accounts

Continuing our soccer theme from last week, we look at a similar story about the topic of how intangible assets (football players) are treated. Derby County Football Club (DCFC) entered Administration in September 2021 and suffered a points deduction at the hands of the English Football League (EFL), as a result. The club is managed… Read More


Messi should appear on balance sheet for the first time!

Who says accountancy is boring? I am no PSG or Barcelona fan, but you must admit, that even at age 34, Messi is probably one of the best players in the world today. My pub quiz question for you – is a football player like Messi an accounting asset or not? The accounting profession has… Read More


Six Key Habits of Good Audit Firms

Executing a good audit is never easy as most auditors and their clients are under severe time and budgetary pressure. Covid has contributed to these pressures. If you would like to know how to do better and more efficient audits have a look at our summary of this recent report. The UK Financial Reporting Council… Read More