cco risk assessment template

cco risk assessment template is a cco risk assessment sample that gives infomration on cco risk assessment design and format. when designing cco risk assessment example, it is important to consider cco risk assessment template style, design, color and theme. the corporate criminal offence (cco) legislation means that if an “associated person” of a business criminally facilitates tax evasion, and the business is unable to demonstrate that it had reasonable procedures in place to prevent such facilitation, the business is guilty of a criminal offence. the legislation is also broad in geographic scope, applying both to instances of uk and non-uk tax fraud and, in certain circumstances, both uk and non-uk corporates could be prosecuted. we are increasingly seeing business disruption arising from non-compliance with the legislation – with cco forming a part of transaction due diligence, new supplier take on and even the lending decisions of some financial institutions. we have worked with over 250 clients from high-growth entrepreneurial businesses to large global, household names and multinationals across all industries. your business’s needs in regard to cco will be unique but our significant experience means you will have assurance that you can demonstrate a defence to the legislation.

cco risk assessment overview

we were present at the inaugural meeting of the newly formed economic crime strategic board chaired by the home secretary and chancellor as an accountancy representative alongside other senior representatives of the business community. we have developed and refined a methodology to give you assurance over your response to cco. our goal is to help you to; to achieve these goals, we will work with you to undertake a risk assessment to determine the nature and extent of exposure to the risk of any “associated persons” engaging in activity to criminally facilitate tax evasion and identify those areas which are under close scrutiny by hmrc. we will then work with you to develop a pragmatic implementation plan; a roadmap of prioritised actions to introduce and update your prevention procedures and processes. you can also use our tailored cco e-learning module to deliver the required training you will reach the end of the process with a cco report evidencing your risk assessment and which will include a summary of key risk areas, recommended next steps and a cco risk register. aimed primarily at lower risk smes, we can also provide our cco toolkit that has the tools you need to build your own cco response.

both are designed to drive better behaviours, and each includes a defence based on the taking of reasonable prevention measures. both rely on associated guidance and, while this is not yet available under eccta, there is a statutory obligation on the secretary of state to introduce it. cco looks at the facilitation of tax evasion and applies to all businesses, while eccta’s focus is on fraud and larger organisations only. under eccta “fraud” includes the common law offence of cheating the public revenue, but other statutory offences too (e.g. an organisation which was, or was intended to be, a “victim” of the fraud offence, however, will not be guilty. while the eccta guidance regarding “reasonable prevention procedures” is not yet available, it can be assumed that it’s likely to follow cco principles. a robust cco risk (or bribery risk) assessment should provide a helpful basis for this, although the scope will be broader in light of the statutory offences under eccta. accordingly, now might be the time to prepare for a refresh of your cco risk assessment (important anyway if there have been material changes to your business in the meantime) and to include eccta considerations at the same time.

cco risk assessment format

a cco risk assessment sample is a type of document that creates a copy of itself when you open it. The doc or excel template has all of the design and format of the cco risk assessment sample, such as logos and tables, but you can modify content without altering the original style. When designing cco risk assessment form, you may add related information such as

conduct a risk assessmentnn your company should identify all the potential risks of tax evasion within the organisation and among partners, employees, and clients. at this stage, companies also need to document their findings, making sure u201cassociated personsu201d and stakeholders are included in the risk assessment process. when designing cco risk assessment example, it is important to consider related questions or ideas, what is cco risk? what are possible sanctions if an organization is prosecuted under the cco legislation? what are reasonable prevention procedures? what corporate criminal offence applies to all businesses wherever they a located if they fail to prevent the facilitation of uk tax evasion?,

when designing the cco risk assessment document, it is also essential to consider the different formats such as Word, pdf, Excel, ppt, doc etc, you may also add related information such as

cco risk assessment guide

if you have introduced a tax evasion policy of some kind this could usefully be reviewed in light of eccta. at the same time, you might want to dovetail existing cco tax evasion and prospective eccta fraud processes with your abc and aml procedures. and of course the statutory offences here can attach to director behaviours. cco and other related training should be refreshed and widened to include eccta. if employees are required to give annual certification of compliance with firm policies and with any mandatory training, eccta should be included. your m&a due diligence procedures are likely to include consideration of cco, and eccta should be added to the checklist in due course. hmrc publish statistics regarding the status of their ongoing, and completed, cco investigations. however, hmrc also make the point that, while there may have been no cco charges, some of their investigations have uncovered other tax and regulatory issues.

we have been working hard with over 150 of our clients to support them in demonstrating a defence to the legislation, and we set out below the top 10 faqs and learnings based on our work. hear practical advice and guidance on the corporate criminal offences legislation within the context of covid-19 and remote working. the challenges, and opportunities, of a remote workforce and the accelerating pace of digital change mean that different approaches to compliance, governance and regulation must be considered. this toolkit provides your organisation with the tools, templates and knowhow to develop a response to the corporate criminal offence legislation.

it is a step by step guide to ensuring that the controls you implement are aligned to hmrc’s six guiding principles and meet the legislations requirements, including carrying out your own cco risk assessment. ensuring your staff and other associated persons understand their responsibilities is a critical control in minimising the risk of enforcement action. the elearning module can be easily uploaded to your existing learning management system for staff distribution, or we can provide a platform through which you can distribute the training. risk assessments should be regularly reviewed, particularly within the context of covid-19.