Setting the standard for AML supervision
When you provide financial services to the public, you're required by law to be supervised for money laundering. As a Professional Body Supervisor, the IAB can equip you with the skills and tools you need to effectively fulfil your obligations.
Your practice remains responsible for meeting its obligations under the Money Laundering Regulations 2017.
AML supervision with the IAB
- £295 per yearannual supervision fee per practice, plus £125 for each beneficial owner, officer or manager (BOOM)
- IAB membership requiredNew members: MIAB £225 or FIAB £295 a year
- AML Complete softwareincluded at no extra cost with your supervision
- 8 AML training modulesthe complete training pathway for you and your team
AML supervision for bookkeepers and accountants
If you provide accountancy, bookkeeping, payroll, tax or related financial services to the public by way of business, you are a relevant person under the Money Laundering Regulations 2017. That means you must be supervised for anti-money laundering purposes before you trade.
Supervision is not optional and it's not something you can self-certify. Every firm or sole practitioner in scope must be supervised by one approved supervisor only: either HMRC, or an approved Professional Body Supervisor, such as the IAB.
This page explains who must be supervised, how to become supervised with the IAB, the training and software included with your supervision, and the fees involved. Use the page guide to jump to the section you need.
Being supervised by the IAB gives my clients confidence in my practice. AML Complete keeps my risk assessments in one place, and the training pathway has strengthened my understanding of the regulations and my responsibilities.
Why you must be AML supervised
Anti-money laundering supervision is a legal requirement for regulated practices. Understand who it applies to, how it works, and where the IAB fits into the framework.
Who this applies to
AML supervision applies to bookkeepers, accountants, tax advisers and payroll providers that offer services to clients. This includes sole traders and self-employed professionals working from home. Using software or automation to deliver these services does not remove this requirement.
One supervisor only
Supervision is not optional and it's not something you can self-certify. Every firm or sole practitioner in scope must be supervised by one approved supervisor only: either HMRC, or an approved Professional Body Supervisor such as the IAB.
Where the IAB fits in
The IAB is an approved Professional Body Supervisor for the accountancy sector. Our work is overseen by OPBAS, part of the Financial Conduct Authority. We also participate in the sector's AML working groups, helping ensure our supervision reflects current regulatory practice.
Trading without supervision is a criminal offence
Trading in the regulated sector without AML supervision is a criminal offence. Money laundering offences carry penalties of up to fourteen years' imprisonment alongside unlimited fines. Getting supervised is the first step to trading with confidence.
Becoming supervised with the IAB
You must be an IAB member before you can apply for supervision. As part of your AML supervision application, you will also need to provide evidence that your practice has the compliance framework required by the regulations in place.
Ready to begin your application? Existing IAB members can apply for supervision directly. If you are not yet a member, first apply for IAB membership and then submit your supervision application.
What you'll need
- MIAB or FIAB membership You must hold membership at Member (MIAB) or Fellow (FIAB) level. If you are not yet a member, you must apply for IAB membership first.
- Professional indemnity insurance You must provide proof of professional indemnity insurance, which covers the services your practice provides.
- AML policies and procedures You need to supply your documented AML policies and procedures, including your firm risk assessment and client due diligence procedures.
The complete AML training pathway
Your supervision includes all eight modules of our complete AML training programme for you and your team. The training keeps your knowledge up to date and helps you demonstrate compliance.
Building Better Businesses
Through our partnership with Pure Bookkeeping, members gain access to proven systems, methodologies and frameworks designed specifically for bookkeeping practices — helping owners move beyond self-employment and build scalable, sustainable enterprises.
Systems and Controls
The systems, policies and controls a practice must have in place, and how they fit together into a working compliance framework.
Risk Assessment
How to assess the sources of money laundering risk affecting your practice and build your firm risk assessment, including client risk assessment and effective information management.
Client Due Diligence
Identifying and verifying clients and beneficial owners, when standard, simplified and enhanced due diligence apply, handling higher-risk clients and PEPs, and ongoing monitoring.
Records and Business Continuity
What records you must keep and for how long, how to store and protect them, and planning for business continuity so your compliance holds up when the unexpected happens.
Designing Effective Procedures
Turning the regulations into practical, workable procedures built around how your own practice actually operates, rather than generic policies.
Reporting and Training
Internal reporting to your MLRO, submitting suspicious activity reports to the National Crime Agency, avoiding tipping off, and meeting your duty to train your staff.
Monitoring and Responsibilities
Ongoing monitoring, senior management responsibilities, the role of the MLRO, and keeping your framework live and under regular review.
Live risk assessment and monitoring, included
AML Complete is a simple digital tool included at no extra cost with your IAB supervision. It brings your risk assessments and ongoing monitoring together in one place, identifying risks within your practice and helping you manage compliance throughout the year. Then, when it is time for an inspection, everything you need is already organised.
- Firm-wide and client risk assessments in one place
- Ongoing monitoring throughout the year
- Risks within your practice clearly identified
- Inspection-ready records when you need them
Better inspection outcomes
Live risk assessment and monitoring is helping supervised members improve their inspection results year on year.
Rise in good inspection ratings
Fall in inadequate ratings
Based on a twelve-month average of inspected members.
Membership and supervision fees
You must hold IAB membership to apply for supervision. Both fees are shown below, with no hidden extras.
IAB Membership
Required before you can apply for AML supervision.
New member prices. Existing members renew at £180 (MIAB) or £225 (FIAB) from 1 January 2027.
- Professional recognition and designatory letters
- Member benefits and CPD resources
- Eligibility to apply for AML supervision
AML Supervision
The annual AML supervision fee for your bookkeeping or accountancy practice.
- Approved Professional Body Supervision
- AML Complete software included free
- All eight AML training modules included
- Support towards better inspection outcomes
What's Included
Everything you need to meet your obligations comes as part of your supervision.
- AML Complete for you and your team
- Complete eight-module training pathway
- Ongoing monitoring and inspection support
