Read our latest June news here:
When data sharing is compulsory
In light of the changing GDPR laws it has become apparent that many organisations, ourselves included, need to factor in additional clauses that show the situations in which we would be obligated to disclose a client’s information. Loosely speaking these include situations where it is required by law, where it becomes necessary in order to administer the relationship or where there is a legitimate interest to do so.
As an example, our audit clients need to ensure that, where they deal with individuals, there is a clause in their own privacy statements that tells their own clients that they will be sharing certain information with us – and internally their privacy statement needs to tell staff that their information might be shared with us.
ICAEW BOOM alert
Money laundering regulatory change
You should have had a communication from the ICAEW, advising supervised firms to undertake basic criminal record checks for all BOOMs (beneficial owners, officers and certain managers) to comply with legislation that kicks in from 26 June 2018. QAD will be checking for evidence of this so make sure you comply!
HMRC scam alert
Time to warn all taxpayers!
HMRC has issued a warning to taxpayers regarding the latest tax refund scams, which have been targeting individuals via email and SMS messages. Fraudsters are sending scam messages which claim that taxpayers are entitled to a rebate, and request that they provide their personal and bank account details in order to make their claim.
The Revenue is keen to emphasise that it will only ever inform individuals of a tax refund by post or through their employer, and never via email, text messaging or voicemail. Taxpayers are advised not to click on any links in suspicious communications, download any attachments or provide any personal information, and to forward any suspect messages or emails to HMRC.
The 2018 Practitioner Conference
An excellent residential event
A first-time delegate, Bonnie Mitchell, attended this year’s conference in Cambridge and wrote an interesting summary of the proceedings for the ICAEW’s May issue of London Accountant. In her article she describes the conference and includes a quote from Just Audit MD Rachel Davis…