Disciplinary outcome: Anitkumar Shah

Anitkumar Shah was found to have committed an act or omission that falls short of the standards reasonably expected of him, including but not limited to those matters listed in the Code of Professional Ethics, which brings, or is likely to bring, discredit to him, the accountancy profession or AAT; namely:

1. For an unknown period until on or around 30 August 2023 he failed to have in place adequate Anti-Money Laundering policies, procedures, and controls.
2. For an unknown period until on or around 30 August 2023 he failed to carry out adequate client due diligence in respect of one or more clients.
3. For an unknown period until on or around 30 August 2023 he failed to carry out an adequate risk assessment and ongoing monitoring in respect of one or more clients.
4. For an unknown period until on or around 30 August 2023 he failed to carry out any or any adequate periodic review of his Anti-Money Laundering policies, procedures, and controls.
5. For an unknown period until on or around 30 August 2023, he failed to hold the minimum level of professional indemnity insurance cover, as set out in AAT’s Professional Indemnity Insurance policy.
6. For an unknown period until on or around 30 August 2023, he failed to register one or more firm with the Information Commissioner’s Office in contravention of the requirements of relevant data protection legislation.
7. For an unknown period until on or around 30 August 2023, he failed to have any or any adequate continuity of practice agreement in place, contrary to the requirements of AAT’s Continuity of Practice Policy.

Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.

Anitkumar Shah is hereby:

1. Fined £5,000.00
2. Severely Reprimanded for three years.
3. Removed from AAT fellow membership (FMAAT) status for a period of three years.

Consent