Estate Agents AML Independent Audit

Estate Agent AML Independent Audit

Legal Eye will examine, evaluate and make recommendations regarding the adequacy and effectiveness of the firm’s anti-money laundering and counter-terrorist financing (CTF) policies, controls, and procedures (PCPs).

The audit will be used as a monitoring tool to track the firm’s compliance with the recommendations made.

The audit will consist of:

Access to information—including your AML and CTF risk assessment, policies, training records, etc
Access to relevant staff
Testing the effectiveness of existing procedures and controls
Testing of any automated systems in use by the firm
Record-keeping
Training

The conclusion of the audit will contain an evaluation of the findings of the audit, together with recommendations for development of the firm’s policies, controls and procedures.

It will identify whether the firm’s policies, controls and procedures are:

adequate in the light of the firm’s risk assessment working as they need and are intended to do
It also sets out any areas of non-compliance, both with the HMRC and with the firm’s policies, identified during the audit.

The recommendations will cover areas for improvement or change as well as specific actions to rectify problems or non-compliance.

If required, we can then provide you with a quotation to conduct the work to resolve the corrective actions. This additional work can be tailored to your specific needs and budget and would include a resolution report confirming that the corrective actions have been completed.

Estate Agent AML Independent Audit including Certification

This is a rolling contract to include an AML Independent Audit every other year and a Re-Certification audit for the alternate years.

Legal Eye will examine, evaluate, and make recommendations regarding the adequacy and effectiveness of the firm’s anti-money laundering and counter-terrorist financing (CTF) policies, controls, and procedures (PCPs).

The audit will be used as a monitoring tool to track the firm’s compliance with the recommendations made.

The audit (required biennially) will be used as a monitoring tool to track the firm’s compliance with the recommendations made. The audit will consist of:

Access to information—including your AML and CTF risk assessment, policies, training records, etc
Access to relevant staff
Testing the effectiveness of existing procedures and controls
Testing of any automated systems in use by the firm
Record-keeping
Training
Random selection of files for review focused on the AML aspect of the file (up to a maximum of 10 files)

The conclusion of the audit will contain an evaluation of the findings of the audit, together with recommendations for development of the firm’s policies, controls and procedures.

It will identify whether the Firm’s policies, controls and procedures are:

adequate in the light of the Firm’s risk assessment
working as they need and are intended to do

It also sets out any areas of non-compliance, both with the HMRC and with the firm’s policies, identified during the audit. The recommendations will cover areas for improvement or change as well as specific actions to rectify problems or non-compliance.