Guideline for Audits of Risk Assessments and AML/CFT Programmes

Introduction

This guideline is to help reporting entities manage the requirement to audit their AML/CFT risk assessment and AML/CFT programme, as required under section 59(2) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act)

The AML/CFT Act does not specify how these audits are conducted. This guideline provides an overview of matters to consider when arranging an audit.

This guideline is provided for information only and cannot be relied on as evidence of complying with the requirements of the AML/CFT Act. It does not constitute legal advice from any of the AML/CFT supervisors and cannot be relied on as such.

After reading this guideline, if you still do not understand any of your obligations you should seek legal advice, or contact your AML/CFT supervisor.

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