The form has been designed as a declaration for completion by both principals and members of staff. Principals and staff involved in work that requires Registered Auditor status should complete such a declaration annually, but best practice may be to require all personnel to comply.
It is the firm’s responsibility to ensure that the approval of beneficial owners, officers and managers (BOOMs) remains valid in accordance with regulation 26 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.