Money Laundering Regulations 2017—independent audit report

The following Risk & Compliance precedent provides comprehensive and up to date legal information covering:

Money Laundering Regulations 2017—independent audit report
1 General information
2 Executive summary
3 Scope of audit
4 Report
5 Recommendations
Appendix 1 Audit plan
Appendix 2 Schedule of documents reviewed
Appendix 3 Schedule of partners and staff interviewed
Appendix 4 Schedule of matter files reviewed

More...

Appendix 5 Schedule of non-compliance and corrective actions
Appendix 6 Follow-up from previous audits
Appendix 7 Recommendations

General information

Person(s) conducting audit	[Insert names of applicable members of independent audit team]
Dates of audit	From [insert date] to [insert date]
[Office(s) covered by the audit]	[[Insert details of offices covered by this audit]]

Executive summary

[Insert executive summary of report findings]

[[Insert summary of recommendations, eg:]

Importance	Number of recommendations
Critical	[Insert number of recommendations from section 5 categorised as critical]
Important	[Insert number of recommendations categorised as important]
Housekeeping	[Insert number of recommendations categorised as ‘Housekeeping']]

3
Scope of audit
1. 3.1
  [A copy of the audit plan is attached in Appendix 1.]
1. 3.2
  [[Set out scope of audit, eg This audit has been carried out to examine and evaluate the adequacy and effectiveness of the policies, controls and procedures adopted by [name of organisation] to comply with the requirements of the Money Laundering Regulations 2017 and to make recommendations in relation to those policies.]]
1. 3.3
  [As part of the audit:
  1. 3.3.1
    the policies, procedures and other documents listed in Appendix 2 were reviewed
  1. 3.3.2
    interviews were conducted with the directors and staff listed in Appendix 3
  1. 3.3.3
    the customer/transaction files listed in Appendix 4 were reviewed for their compliance with the organisation’s policies and procedures
  1. 3.3.4
    [other]]

4
Report
1. 4.1
  Specific incidences of non-compliance
  [The audit identified the following specific incidences of non-compliance:

Navigate the law quickly and efficiently with Lexis^®PSL

Imagine being able to quickly find up-to-date guidance on points of law and then easily pull up sources to support your advice. With LexisPSL, you can.