A BOOM is specifically defined as a beneficial owner, officer, or manager.

Since 26 June 2018, all our supervised firms must take reasonable care to ensure no-one is appointed, or continues to act, as a BOOM without ICAEW’s approval. ICAEW can only approve a BOOM if that individual has no relevant unspent criminal convictions and so, to prove that we can approve a BOOM, we require all BOOMs to obtain criminal record checks. We review these checks during onsite monitoring visits, or we may write to the firm and ask it to send the certificates to us.

• Read our guidance on the definition of a BOOM
• Read our guidance on criminal record checks
• Read answers to FAQs on criminal record checks
• Watch our AMLbites on criminal record checks and BOOMs