Independent, professional, Audit services for the verification of the adequacy, effectiveness, appropriateness and proportionality of your AML & CTF internal policies, controls and procedures.
An AML Audit will primarily focus on the policies your firm has put in place for carrying out its Client Due Diligence (CDD) and its Enhanced Due Diligence (EDD) and identify areas of improvement
Documented evidence retained during the CDD & EDD process will also be placed under the scope of the AML Auditor for verification of the type, number and quality of the documentation obtained
Reviewing the risk assessment methodology adopted by your firm is critical. The AML Audit will focus on the assessment factors, the scores and the weights used by your firm for evaluating its clients' inherent ML & TF risk
An AML Audit is also necessary for verifying the validity of your firm's decision making policies. Elements such as the firm's Risk Appetite and Client Acceptance Policy (CAP) will be under the AML Auditor's scope
An AML Audit service will also test your firm's adequacy in terms of both internal and external reporting of Suspicious Activity and transactions
A part of the AML Audit will be dedicated to your firm's AML Manual to ensure that it covers all required topics and is fully up to date with all recent legislation amendments and directives from respective regulating bodies?