For Accountants, Lawyers and Real Estate Agents
Our Services
AML AUDIT
For those requiring an AML audit.
If you are caught under the AML legislation you will need an audit conducted every two years. Audits must be completed by the following dates: Accountants 30 September 2020; Lawyers 30 June 2020; Real estate agents 31 December 2020. It is best to give yourself plenty of time prior to the deadline date as your audit must be fully completed and signed-off by those dates.
AML ADVISORY
Advice to implement your Programme and Risk Assessment.
Do you need advice on implementing your AML Programme? Do you have questions on some of the more tricky areas of performing Customer Due Diligence? With our knowledge of the regulations and experience working with a large variety of organisations, we can advise on the policy, processes and controls you need to have in place.
PRE-AUDIT CHECK
We will perform a check of your Risk Assessment and Programme from an audit viewpoint.
This gives you the comfort of knowing where you are positioned prior to your audit, where the gaps are and if your policy, process and controls are adequate. We will provide a full report back to you including with practical recommendations for any gaps identified.
Common questions
What is the scope of an AML audit?
The scope of an AML audit is:
Risk Assessment
Assess whether it complies with all of the obligations in section 58(3) of the Act (which requires you to identify the risks to your business of money-laundering against eight required categories such as customers, products, locations etc.).
Programme
Assess whether it complies with all of the obligations in section 57 of the Act (which requires your to meet standards for areas such as staff vetting, staff training and CDD).
Assess whether the policies, procedures and controls are based on the risk assessment.
Assess whether the policies, procedures and controls are adequate.
Assess whether the policies, procedures and controls have operated effectively throughout the period.
Contact us today for a no obligations conversation to hear more about each of these scope areas.
What type of audit report do I get and who do I send it to?
We will provide you a ‘no surprises’ audit report, which means we discuss any findings with you throughout the audit process. We are a Qualified Auditor firm of the national body Chartered Accountants ANZ which means our audits are conducted under assurance standards. Your stakeholders can be assured of the quality of our audit process. We commonly provide Limited Assurance audit reports to our clients and are happy to discuss what form of reporting best suits your needs. We will provide you an overall audit conclusion as well as a report with our findings for each AML area and our recommendations for improvement areas.
Your AML audit report does not need to be sent to your Regulator unless they ask for it.
Contact us today for a no obligations conversation to hear more about what happens at the end of your audit process.
What is my audit deadline?
Audits must be completed by the following dates:
Accountants 30 September 2020;
Lawyers 30 June 2020;
Real estate agents 31 December 2020.
It is best to give yourself plenty of time prior to the deadline date as your audit must be fully completed and signed-off by those dates. Contact us today for a no obligations conversation to hear more about the time frame required to complete an audit.
What Guidance is available to allow me to understand the Regulations?
Each Regulator has published guidance documents outlining what is required for each industry captured by the AML regulations. We can provide you with direct reference to the relevant sections of guidance for your business. Contact us today to learn more about the publicly available guidance.