Independent AML Audit
Fortify your compliance framework while minimising disruptions to your business operations
Standard R21 audit
Below is a brief overview of our standard service and flexible approach. This information is intended as a general guide and is subject to change based on specific client needs. If you would like a tailored conversation, please reach out!
Preparatory Review
- Comprehensive assessment of AML Policies, Controls, and Procedures (PCPs)
- Review of internal registers
- Audit of practice-wide (R18) risk assessment
Stakeholder Interviews
- In-depth interviews with key personnel, including MLRO, MLCO, and heads of departments
- Stress testing of your current AML framework
File Reviews
- Sample file audits for each of the interviewed fee earners
- Review and feedback sessions to discuss any corrections or omissions
Closing Meeting
- High-level feedback and initial findings presented to key role holders
Written and Final Reports
- Detailed draft and final reports outlining compliance status and improvement areas
- Certification upon completion of corrective steps
Services
Enhanced Audit Options
Corrective Work
- Amendments, updates, or corrections to existing PCPs within 28 days of the final report
- Certification upon completion of corrective steps
Knowledge Mapping
- Unique firmwide knowledge mapping to identify gaps and opportunities
- Use of legal tech for deep data analysis
- Customisable questions tailored to your needs
Audit
Enhanced audit options
Tailored for businesses seeking a deeper dive and further assurance, these add-ons ensure a comprehensive safeguarding of your processes against the evolving complexities of financial crime. Opt for our enhanced services to ensure your firm not only meets but exceeds industry standards, solidifying your reputation as a leader in compliance and risk management.
Corrective Work
- Amendments, updates, or corrections to existing PCPs within 28 days of the final report
- Certification upon completion of corrective steps
Knowledge Mapping
- Unique firmwide knowledge mapping to identify gaps and opportunities
- Use of legal tech for deep data analysis
- Customisable questions tailored to your needs
Custom audits
In the dynamic world of compliance, a one-size-fits-all approach doesn’t always suffice. Recognising the unique intricacies and needs of different organizations, HiveRisk is there for whatever you need. With a focus on flexibility, precision and comprehensive coverage, these bespoke audits provide the tailored assurance your firm requires, reinforcing your commitment to the highest standards of compliance and risk management.
Audit
Independent R21 Audits
Check out this practical session on the requirements of Regulation 21 of the Money Laundering Regulations and the considerations when deciding to undertake an internal or external audit.
Kate Burt
Founder & CEO