Audits & Assurance Scope
The scope of the audit can be expanded to cover fraud, tax evasion, compliance-related items or any other financial crime related matters as well as AML and sanctions at an additional cost. Our final reports highlight observations relating to regulatory compliance and operational efficiency with accompanying practical recommendations.
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Ensure business is compliant with financial crime regulations, guidance from the regulators and any relevant third party guidance
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Review application of a risk-based approach covering policies and procedures, risk appetite and risk assessment process.
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Review CRA and CDD to ensure regulatory compliance. This will be performed through system walkthroughs and file reviews.
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Perform system walkthroughs and file reviews of customer screening process inclusive of PEPs, sanctions, adverse media and warning lists, and sanctions screening process for transactions.
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Review internal and external suspicious activity reporting and the investigation process.
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Review the appropriateness and effectiveness of anti-fraud systems and controls
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Review of ongoing customer monitoring processes inclusive of KYC, monitoring high risk customers and transaction monitoring system.
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Review the current financial crime governance and team structure to identify gaps and deficiencies.
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Review the financial crime quality assurance and quality control programme, including CDD, customer risk rating, customer screening, and ongoing monitoring.
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Review the training and awareness programme to ensure regulatory compliance and that teams are trained sufficiently and have appropriate awareness of financial crime risks.
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Review reporting processes and the nature of the management information framework, including financial crime reporting.
