The risks to accountants who fail to follow sanctions rules

Keeping up to date with changes to Russian sanctions is a priority but it is important to check both new and existing clients comply, explains Martin Cheek, managing director, SmartSearch

 

Accountancy firms play a key role in facilitating the UK’s open economy. But that responsibility also puts them in the firing line in the fight against financial crime.

So much so, that the weight of compliance on accountants has never been more pressing, particularly when it comes to sanctions. And nor has the severity of the penalties, fines and reputational damage which come with breaching the rules.

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