Compliance Audit Services
Independent, rigorous compliance audits to ensure your financial business meets every regulatory requirement with confidence.
Why External Audits Matter?
Audits provide independent credibility and unbiased assessment of your business operations, ensuring resilience and trust.
External Audit Benefits
- Provides independent credibility
- Opens business to critical and bias-free assessment
- Evaluates business without fear and unbiased
Importance of Compliance Audit
- Fluent Business Operations aligned with regulations
- Identifies areas of concern in existing processes
- Updates on new amendments in laws and regulations
- Increases competency of staff
- Identifies new responsibilities of MLRO and Director
- Prepares for regulating body interviews and audits
What We Assess
Business Level Assessment
Understanding money laundering, terrorist financing and proliferation financing risks at your business level
Staff Training Programs
Evaluating business training programs for staff to conduct CDD, EDD and reporting measures
Staff Competency
Assessing competency of staff in identifying and reporting Suspicious Activities
IT Systems Evaluation
Reviewing how IT systems verify and screen customers, generate alerts, and identify key improvement areas.
Transaction Monitoring
Evaluating transaction monitoring process and record keeping of transactions.
Complaint Handling
Assessing companies adherence to applicable regulations, policies, and procedures.
Annual Compliance Audits
MSBs should conduct compliance audits once every year, but we recommend conducting them once every 6 months to stay ahead of regulatory changes and ensure continuous operational excellence.
Recommended Frequency
Every 6 Months
Who Will Benefit?
Tailored compliance solutions for diverse financial service providers.
Money Transfer Businesses
Ensure compliance with all regulatory requirements for money transfer operations
Currency Exchange Bureaus
Maintain compliance with foreign exchange regulations and reporting requirements
Authorised Payment Institution
Maintain compliance with authorised payment institution regulations
Our Audit Process
A structured 3-phase inspection for thorough compliance.
Pre Audit Document Review
AML Policy and Procedures Document
Are the policies in-line with the updated regulations and guidelines? Risk based approach, Record keeping requirements, Training process
Risk Assessment Document
Risk identification process, Risk matrix, Risk mitigation and controls
Complaints Handling Procedure
Complaints procedure, Time span required, Information on reporting authority
Major Incident Reporting Procedure
Levels of report, Timelines for reporting incident, Procedures for reporting
Consumer Duty Policy
Customer outcomes framework, Product and service governance, Price and value assessment, Consumer understanding and support measures.
APP Fraud Prevention Policy
Fraud risk indicators, Transaction monitoring controls, Customer warnings and education, Reporting and escalation procedures.
Fair Treatment of Vulnerable Customers Policy
Identification of vulnerability, Support measures and reasonable adjustments, Staff training and awareness, Escalation and record-keeping procedures.
Compliance Audit Pricing
Get a no obligation quote for our comprehensive compliance audit services
Comprehensive Compliance Audit
Full 3-phase compliance assessment with detailed reporting
Based on business size
- Pre Audit document review
- One-day remote compliance assessment
- Detailed compliance scoring (Low to High)
- Comprehensive audit report
- Recommendations for improvement
- Post-audit consultation