Disciplinary outcome: undefined undefined
Order by consent
In the matter of
Mr Rizwan Chopdat FMAAT
Membership number
193445
Date
5 June 2024
Misconduct
Rizwan Chopdat was found to have committed any act or omission that falls short of the standards reasonably expected of them, including but not limited to those matters listed in the Code of Professional Ethics, which brings, or is likely to bring, discredit to the member, the accountancy profession or AAT; namely:
- For an unknown period up until on or around 29 June 2023 he failed to have in place adequate Anti-Money Laundering policies, procedures, and controls.
- For an unknown period up until on or around 29 June 2023 he failed to carry out any or any adequate client due diligence in respect of one or more clients
- For an unknown period up until on or around 29 June 2023 he failed to carry out an adequate risk assessment and ongoing monitoring in respect of one or more clients.
- For an unknown period up until on or around 29 June 2023 he failed to carry out an adequate firm-wide money laundering risk assessment.
- For an unknown period up until on or around 29 June 2023 he failed to carry out any or any adequate periodic review of his Anti-Money Laundering policies, procedures, and controls.
- For an unknown period up until on or around 29 June 2023 he failed to have in place adequate Anti-Money Laundering training for staff members and/or sub-contractors.
- For an unknown period up until on or around 10 May 2023, he provided limited assurance engagement services outside the scope of his AAT licence.
- For an unknown period up until on or around 29 September 2023, he failed to issue any or any adequate letters of engagement to one or more clients.
- For an unknown period up until on or around 29 June 2023 he failed to have in place any or any adequate continuity of practice agreement.
Finding
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.
Order
Rizwan Chopdat is hereby:
- Fined £4,500.00
- Severely reprimanded for three years (36 months)
- Removed from AAT fellow membership for three years (36 months)
Consent
Rizwan Chopdat is deemed to have agreed to submit to the decision of the Investigations Team in accordance with Regulation 5.3 of the Disciplinary Regulations.
