Is there a new requirement to sign document to give accountant access to bank stateme

dave74

Own a small retail business and have been with the same accountant since 2004. This year on supplying the accountant with the documentation necessary to do my books, he sent me a legal document to sign. This documentation will give him legal access to my bank accounts. I told him I would supply him with any statements or information he needs and wants, like the previous years. He told me that I had to sign it as it is now a legal requirement by the revenue. I have never heard of this change nor can I find information on this anywhere.

MBateson

I don't believe there is any such requirement. If you are a company who needs to be audited there is a letter to be signed which requests the bank to confirm the bank balances with the auditor but this sounds different, can you post a copy ( on a no names basis)?

J.Ryan

As a matter of best practice I send a bank letter to all clients for signature, it authorises the bank to release directly to me, the balance on all business accounts at the year end.

Is this what you mean?

Or could it be for authorisation to pay taxes on ROS, in this case (again I have it with most clients) it is in the revenue system and I (with the clients approval via email or letter) can authorise the Revenue to take funds from a bank account nominated by the client to settle a revenue debt of that client.


I can't think of any reason that an accountant would need access to a clients bank accounts other than the two reasons above, which are not really access as such.