Economic Crime & Corporate Transparency Act - A Guide for Accountants

Introduction

The virtual classroom session is aimed at accountants in practice who advise entities registered at Companies House in the UK.

The Economic Crime & Corporate Transparency Act is the second of a two-part series of legislation in the UK, following on from the Economic Crime (Transparency and Enforcement) Act 2022 and received Royal Assent in October 2023.

The Act is being implemented in stages, with many of the provisions either now in place, or anticipated to be enacted in 2025.

The Act will impact all entities that are registered at Companies House, and the individuals associated with them. This includes directors, people with significant control and agents, such as corporate compliance persons and companies, attached to such entities.

As well as looking at the key matters within the legislation, the session will have a particular focus on what impact this will have for accountants in practice as they service their clients and the practical opportunities and challenges for accountants arising from the new requirements. We will also consider some of the other changes in the UK Companies Act in relation to company size thresholds and related reporting requirements.

What You Will Learn

This virtual classroom session will cover the following:

• The new role and responsibilities of Companies House
• Identity verification of directors, people with significant control and others
• The removal of reduced filing provisions for small and micro entities
• The mandating of electronic filing of financial statements, and
• The creation of a new ‘failure to prevent fraud’ offence

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.