AML Audit
specialises in providing AML Audit services to firms. Our philosophy is to be engaging and offer practicable solutions so that firms are well prepared to meet their obligations.
Our Services
Audit Requirement
All reporting entities must have their Risk Assessment and AML/CFT Programme audited every 2 years or at any other time at the request of the relevant AML/CFT Supervisor. Reference: s59 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML Act).
Audit
AML Audit can assist you in meeting the requirement to have your Risk Assessment and AML/CFT Programme audited. We ensure that these documents meet the requirements of the AML Act and that processes stated are being carried out. We do this by sample testing.
Testing
After we have reviewed your documents we perform on-site tests to ensure that the processes for CDD, ECDD, Transaction Monitoring, and Training etc. are in keeping with the processes and policies stated. In most cases this is completed using a sample size to assess compliance.
Pre-Audit Check
We recommend that you undertake a pre-audit check to ensure your documents, policies and processes comply. We have put together a Check sheet to assist you as well as a "Control" document to ensure that your Risk Assessment and AML/CFT Programme complies. Please download these here – Check Sheet, Control Document.
About Us
AML Audit has auditors with many years of experience coupled with hands on knowledge of back office operations and AML requirements. Some of the assignments undertaken include:
- Undertaking AML Audits across a wide range of financial services businesses in New Zealand.
- Assisting an investment bank in Dubai to restructure their Compliance Department. This involved presenting the new structure to the Regulators and having a new AML Compliance Officer approved and appointed.
- Assisting a New Zealand firm in establishing its AML procedures in Australia. This involved meeting with AUSTRAC to establis reporting requirements.
- Assisting many firms in New Zealand establish their AML/CFT Programmes.