Compliance Training Requirements for Finance Teams: What UK and Irish Firms Need to Know in 2026

Compliance Training Requirements for Finance Teams: What UK and Irish Firms Need to Know in 2026

Finance teams in the UK and Ireland operate under some of the most demanding compliance training obligations in any sector. Between FCA Training and Competence rules, CBI Fitness and Probity requirements, ACCA and CIMA CPD obligations, and the Fifth Anti-Money Laundering Directive, the regulatory landscape has never been more complex — or the consequences of getting it wrong more severe.

This guide sets out exactly what compliance training finance teams are required to complete, what counts as valid training, what records you need to keep, and how online training satisfies regulatory requirements. It is written to help CFOs, Finance Directors, Compliance Officers, and HR leaders build a defensible, cost-effective training programme for 2026 and beyond.

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The Regulatory Drivers: What Requires Compliance Training?

Four primary regulatory frameworks drive mandatory training requirements for finance professionals in the UK and Ireland:

1. FCA Training and Competence (T&C) Rules

The Financial Conduct Authority's Training and Competence sourcebook (TC) applies to firms carrying out regulated activities involving retail clients. It requires firms to ensure that employees who deal with retail clients are competent, maintain their competence, and are appropriately supervised. For client-facing roles in financial services, this is a non-negotiable ongoing requirement.

The FCA's Senior Managers and Certification Regime (SM&CR) extends this further, requiring certified staff to be assessed annually as fit and proper. Competency evidence — including training records — forms part of this assessment.

2. CBI Fitness and Probity Requirements

The Central Bank of Ireland applies equivalent standards through its Fitness and Probity regime. Pre-Approval Controlled Functions (PCF holders) and Controlled Function (CF) holders must meet and maintain fitness and probity standards. The CBI expects firms to conduct due diligence on staff competence on an ongoing basis, and training completion records are a key piece of evidence.

3. Professional Body CPD Requirements

ACCA members are required to complete a minimum of 40 hours of CPD per year, of which at least 21 hours must be verifiable (evidenced by a third party). CIMA requires members to demonstrate that CPD is relevant and has been applied. ICAEW members must complete CPD appropriate to their role and maintain a CPD record. Failure to meet CPD requirements can result in disciplinary action, including loss of membership.

4. Anti-Money Laundering (AML) Training Obligations

The Fifth Anti-Money Laundering Directive (5AMLD), implemented in the UK via the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (as amended) and in Ireland via the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended), requires all relevant employees of regulated firms to receive regular AML training. For accounting firms and financial services firms, this means annual AML training for all staff with exposure to financial transactions.

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What Counts as Valid Compliance Training?

A common question from Finance Directors and L&D Managers is whether online training satisfies regulatory requirements. The short answer is: yes, provided it meets certain standards.

Regulators — including the FCA, CBI, ACCA, CIMA, and ICAEW — do not mandate classroom training. What they require is that training is relevant to the role, appropriate in depth and duration, and evidenced by a record. Online training satisfies all three criteria where it is:

• Delivered by a qualified provider or subject-matter expert
• Assessed through tests or reflective exercises
• Accompanied by a completion certificate or attendance record
• Mapped to specific regulatory or CPD requirements

For ACCA verifiable CPD specifically, online courses that include an assessment element and a certificate qualify as verifiable hours. For FCA T&C purposes, online training counts toward competence records provided it is logged in the firm's training register alongside evidence of competency assessment.

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Record-Keeping Requirements

Regulators consistently find that firms which fail compliance inspections do so not because they did not train their staff, but because they cannot prove it. Record-keeping is as important as the training itself.

Finance firms should maintain a training register that captures for each employee:

• The name and content of each training module completed
• The date of completion
• The duration (in hours)
• The provider or delivery format (online, classroom, conference)
• A certificate or evidence of completion
• For CPD purposes: a brief reflective note on how the learning was applied

Records should be retained for a minimum of five years. The FCA and CBI may request training records during supervisory visits orenforcement investigations. AML training records are specifically mentioned in anti-money laundering regulations as something firms must be able to produce on request from a supervisory authority.

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Consequences of Non-Compliance

The consequences of failing to meet compliance training requirements can be severe:

FCA enforcement: The FCA has issued significant fines to firms for failures in Training and Competence systems. These are most commonly triggered by supervisory visits that find inadequate training records or evidence of staff operating outside their competence.

ACCA and CIMA disciplinary action: Professional bodies can suspend or remove membership for failure to meet CPD requirements. For finance professionals, loss of membership can effectively end a career in a regulated role.

AML regulatory sanctions: The National Crime Agency (NCA) in the UK and the CBI in Ireland have powers to impose civil penalties on firms whose AML training programmes are found to be inadequate. HMRC, as an AML supervisor for accountancy firms, also carries out compliance reviews.

Personal liability: Under SM&CR and Ireland's Individual Accountability Framework (IAF), senior managers bear personal responsibility for the compliance of their functions. A Finance Director who cannot evidence that their team received required training may face personal regulatory action.

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Building a Compliant Training Programme in 2026

A compliant finance team training programme for 2026 should include:

Algorithmic mandatory training: AML awareness (for all staff with exposure to financial transactions), data protection/GDPR refresher, and any regulation-specific training required for the firm's regulated activities.

Role-based CPD: Qualified finance professionals must complete their professional body's CPD requirement each year. For ACCA members, this means a minimum of 40 hours, with 21 verifiable. Employers can support this by providing access to CPD-eligible online courses and maintaining completion records on behalf of staff.

Ongoing competence maintenance: For FCA and CBI regulated firms, technical training relevant to employees' client-facing responsibilities must be completed regularly and documented. The frequency will depend on the specific activity — higher-risk, more complex activities require more frequent competence assessment.

Training on new regulations: 2026 brings significant new requirements including CSRD-related skills for finance teams and ongoing IFRS updates. Training programmes should include annual refreshers on new standards and regulatory changes.

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FAQ: Compliance Training Requirements for Finance Teams

What compliance training do finance teams legally need to complete?

Finance teams in UK and Irish regulated firms must complete AML training (at least annually, under 5AMLD / Irish AML legislation), maintain competence under FCA T&C or CBI Fitness and Probity rules (if in a regulated role), and meet their professional body's CPD requirements (ACCA: 40 hours/year; CIMA: relevant annual CPD; ICAEW: role-appropriate CPD). Failure to comply can result in regulatory fines, professional body sanctions, and personal liability for senior managers.

Does online training count for FCA or CBI compliance purposes?

Yes. Neither the FCA nor the CBI mandates classroom delivery. Online training counts as valid compliance training provided it is relevant to the employee's role, delivered at an appropriate level, and evidenced by a completion record. For ACCA CPD, online courses with an assessment element qualify as verifiable hours.

How long should compliance training records be kept?

Training records should be retained for a minimum of five years. AML training records must be producible on request from a supervisory authority. FCA and CBI supervisory visits may also request historic training records. Best practice is to maintain a centralised training register updated after every training completion.

What happens if a firm fails an FCA training and competence audit?

FCA failures related to Training and Competence most commonly result in a Section 166 skilled persons review, remediation requirements, or in serious cases a fine. The FCA's enforcement actions in this area have included multi-million pound fines for firms with systemic T&C failures. Senior Managers can face personal enforcement action under SM&CR.

How many CPD hours does an ACCA member need each year?

ACCA requires a minimum of 40 CPD hours per year, of which at least 21 must be verifiable — meaning the learning is evidenced by a third party, such as a course certificate. The remaining hours can be non-verifiable (self-directed reading, on-the-job learning). Employers can support ACCA CPD by providing access to accredited online training platforms and maintaining records of completion.

Do small accounting firms need to provide compliance training?

Yes. AML training obligations apply to all firms regulated under anti-money laundering legislation regardless of size, including sole practitioners and small practices. HMRC supervises accountancy firms for AML compliance and conducts regular checks. Professional body CPD requirements also apply to all members regardless of firm size.

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Next Steps

Understanding your compliance training obligations is the first step. The second is building a programme that meets them consistently, evidences completion, and keeps pace with regulatory change.

Learnsignal provides CPD-eligible online training for finance professionals across ACCA, CIMA, CPA, and CPD compliance subjects. Our compliance and AML courses are used by accounting firms, financial services firms, and in-house finance teams across the UK and Ireland.

Download the Compliance Training Requirements Guide — a practical reference for Finance Directors and Compliance Officers building or reviewing their team's training programme.