Chapter 14 PRPG: Members in employment – commerce and industry

Question 1

14.1 Application of professional rules and practice guidelines

Answer 1

If the employer is in the regulated sector, they must comply with the UK’s AML legislation. A member in a body such as ATT/CIOT should comply with the CPD requirements. A member with responsibility for a company’s financial accounting arrangements should consider whether the Senior Accounting Officer (SAO) rules apply to them.

Question 2

14.2 Situations contrary to professional standards or law/regulations

Answer 2

Members may have situations that threatens compliance with PRPG. They should refer to the commerce and industry guidance on the CIOT/ATT. They can get external opinion with the charity, Public Concern at work or legal advice.

Question 3

14.3 Personal Work

Answer 3

If a member in C&I provides tax services on a paid basis other than their employer, they should comply with PII and AML obligations.