Which is the best accounting/bookkeeping professional body to join for money laundering?
In the past I was member of ICB and IAB (at different times)
At this point in time only need it for starting up bookkeeping business again but maybe when my son starts school in September 2015 (and will have more time) will maybe finish off my studies.
Either IAB or ICB will allow you to register via them for MLR and you could also register directly through HMRC. My own advice the re IAB and ICB is as follows:
The IAB may give you credit for qualifications you have already obtained and, if they didnt, they would allow you to attempt entry examinations at a level you felt comfortable with. Also, as their qualifications are linked through OFQUAL your learning credits would be transferrable if you decided to continue your study to a higher level.
If your membership with ICB was held within the last two years you should be able to re-join at the same level of membership as you previously held. If you have gone beyond two years they may ask you to redo your examinations. In terms of setting up on your own the ICB have a great support network with regional member groups and if you decide later to add to your qualifications they offer a far more flexible, on demand exam structure. I should also add that the ICB are actively pursuing avenues where their qualifications would be transferrable to other study routes.
The IAB may also have regional support groups, but Im not entirely sure.
Anyway, whichever route you decide to take I wish you the best of luck with everything.
Brian McVean wrote:I should also add that the ICB are actively pursuing avenues where their qualifications would be transferrable to other study routes.
Nice post Brian,
Can you share any additional details on that one.
If not can you at least tell me that I am wrong in an assumed best option for the ICB of negotiating with AAT over transferables?(actually, I can't see what would be in that for the AAT).
your not telling me whats what, your just saying whether I'm wrong... And I promise to only have this one guess... Don't want the Carters putting a hit out on you...
All the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Not sure of the exact ins and outs or, indeed, if I should be even posting this . I understand they have spoken to ofqual, but indications are that the number of exams would need to increase, despite having the same coverage as the current set up, which icb would not be too happy with. If they go down this path it may mean two exam routes, one for membership and one for ofqual, depending on the students long term goals.
I must stress however that the above is very much up in the air and should not be taken as gospel.
Unfortunately my qualifications are more then 2 years old.
Alison, it may be more to do with your membership being lapsed for more that two years, rather than when you gained your qualification. Maybe worth checking.
Was so much easier to set up in 2006 when first set up my business, none of the stupid money laundering regulation, within 3 weeks of being made redundant had sorted full diary of clients.
I think that the worst time was the few months before the change of Government. There was just nothing out there and most posts on here were about people giving up and doing something else. (one poster moved from bookkeeping to cleaning which paid more!).
There was a serious pick up when the government changed but I'm now seeing a lot of businesses shrinking back and micro businesses are keeping their paperwork firmly in house in an attitude of protect every penny.
Of course, they often cost themselves more money than they save in the process but one can underastand their reasoning for their actions.
All in all it's not a good economic landscape out there but, despite the gloom in the economy I've seen much worse.
Good luck with the new business Alison
kind regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Shame the economic climate is the way it is. Did put me off a bit but there just no jobs near me that are suitable, and even if cannot get much work as a self employed bookkeeper will still be better then being on income support.
. I understand they have spoken to ofqual, but indications are that the number of exams would need to increase, despite having the same coverage as the current set up, which icb would not be too happy with. If they go down this path it may mean two exam routes, one for membership and one for ofqual, depending on the students long term goals.
