No Accounting for Taste ep 138: AML, Coconut and the human firm

AccountingWEB

On this week's episode, the AccountingWEB team discusses the growing burden of anti-money laundering regulations, GoSimpleTax's acquisition of Coconut and are later joined by Will Farnell to discuss the philosophy of the human-led firm. With regulators ratcheting up fines and accountants struggling to keep up, tightening AML regulations continue to cause headaches for practitioners. And, with the recent news that one "overwhelmed" practitioner has been slapped with a total financial sanction of close to £25,000 for AML breaches, Richard Hattersley and Tom Herbert discuss how this essential, yet burdensome measure is affecting the profession. Also on the pod, Tom talks us through the winding story of GoSimpleTax's aquisition of accounting app Coconunt after the vendor was doomed to failure thanks to the delay of MTD ITSA earlier this year. And finally, Will Farnell, the founder of Farnell Clarke and digital pioneer, beams into the pod studio to discuss the release of his new book 'The Human Firm' and looks to champion a different, more personal type of accounting. For more information on the stories discussed in this episode visit: https://www.accountingweb.co.uk/content/no-accounting-for-taste-ep-138-aml-coconut-and-the-human-firm