Disciplinary outcome: undefined undefined
Order by consent
In the matter of
Louise Munro FMAAT
Membership number
9007711
Date
19 April 2024
Misconduct
Louise Munro's conduct was found to be in breach of the Code of Professional Ethics and to have posed a risk to the public and/or undermine public confidence in the Association and its members as follows:
- For an unknown period up until on or around 09 February 2024, she did not comply with her obligations under the Money Laundering Regulations in force while providing accountancy and/or related services on a self-employed basis. Specifically, she failed to:
a. perform a risk assessment for new and existing clients; and/or
b. carry out any or any adequate risk-based assessment as part of initial client due diligence. - On or around 31 March 2018 to on or around 19 September 2023, she failed to maintain the required level of professional indemnity insurance as set out in AAT’s Professional Indemnity Insurance Policy.
- For an unknown period up until on or around 14 September 2023, she provided the service Limited Assurance Engagement whilst not approved to do so.
- For an unknown period up until on or around 12 September 2023, she failed to hold clients’ money in full compliance with AAT’s Clients Money Policy.
Finding
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.
Order
Louise Munro is hereby:
- Reprimanded for a period of two years
- Fined £2,500
- Warned about her future conduct.
Consent
Louise Munro actively consented to the decision of the Investigations Team in accordance with paragraph 5.3 of the Disciplinary Regulations 2024.