The umbrella group for the accountancy institutions, CCAB, stresses that these recent measures are directly relevant to both members in business and practice, as well as to those working in the public sector and the charity and not for profit sectors.

The CCAB statement said: ‘The position is fluid and fast moving and the CCAB therefore considers it timely to remind members of their professional obligations.

‘Whether in practice or in business, members must comply fully with their legal and professional obligations relating to the sanctions’ regimes in their respective jurisdictions; the CCAB also expects that they will be willing to play their part in helping non-sanctioned companies across the economy cope with any consequent disruptions.’  

Acc