IAB Professional Practice case studies
IAB Professional Practice · Put your knowledge to work in context.
The IAB Professional Practice exam is a four-domain assessment for bookkeepers, payroll specialists and accountants working in or toward UK practice. The four domains are weighted equally at 25% each: Anti-Money Laundering Supervision, Bookkeeping, Payroll, and Accounting. The IAB Professional Practice case studies are 5 cases and about 3,740 words.
1The Payroll Bureau's Suspicious Run of New Hires
You are the MLRO at a small payroll bureau serving 140 SME clients. Over six weeks, a newly onboarded client, Northbridge Staffing Ltd, has added 38 employees, all paid weekly into accounts at two banks in a jurisdiction your firm has flagged as higher risk.
747 words, about 4 min2The Vanishing Invoice Trail at a Growing Consultancy
You keep the books for Halvard Consulting, a four-person firm turning over about £620,000. The owner, Priya, does her own invoicing in a spreadsheet and sends you a monthly export.
739 words, about 4 min3Real Time Information, a Late FPS, and a Director's Loan
You run payroll for a 22-employee catering company. In the November pay run, the managing director, Tomas, took a £15,000 'bonus' that was recorded in the payroll software but never actually paid through the bank - instead it was credited to his director's loan account.
730 words, about 4 min4Revenue Recognition on a Long-Term Contract With a Variation
Your client, Meridian Fabrications, has a single large contract to build a bespoke production line for a customer. Total contract price is £2.4m, expected cost £1.9m, and at the year end the project is 55% complete on a cost-to-cost basis.
809 words, about 4 min5The Care Home's Cash Deposits and the Supervisor's Visit
You are the MLRO for a small accountancy practice that also provides bookkeeping to 30 care homes. One client, Elmwood Care, receives most of its income from a local authority, but its bank statements show £4,000–£6,000 per month in cash deposits, in round amounts, made at three different branches.
715 words, about 4 min