AML Audit

AML Audit

An independent AML audit is a fact-finding process. It is not a financial audit but a test to see whether the organization has an appropriate AML Compliance program. The AML Audit will be conducted by on-site visit and off-site as well.

This Internal Audit charter aims to ensure better management of an enterprise by improving its governance, risk management, management controls, and compliance with the Ministry of Economy, Central Bank of UAE, UAE Federal Government, and Global Competent authorities.

Our objective is to bring a systematic, disciplined approach to evaluating and improving the effectiveness of the risk management, controls, and governance process.

The scope of work of Internal Audit encompasses the examination and evaluation of the adequacy, existence, and effectiveness of the system of internal control, risk management framework, and corporate governance of the organization, which includes;

  • Evaluation of the effectiveness of the AML Policy, Procedures, and Controls
  • Evaluation of the effectiveness of the Transaction Monitoring Function
  • Evaluation of the effectiveness of sanction screening controls
  • Analyzing reports prepared by the Compliance department / MLRO / Compliance Officer
  • Effectiveness of training given to the front-line executives and Senior Management
  • ML/TF Risk Assessment
  • CPD Training Completion level of Compliance Department staff
  • Quality testing of Suspicious Transaction Report and Suspicious Activity Report

Our goal is to be your trusted partner on your digital transformation journey, helping you stay ahead of the game and achieve success in today’s ever-evolving business landscape.

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