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AML Audit Services

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

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.

On-demand webinar

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.

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Kate Burt

Founder & CEO

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Gavin Ball

Technical Director

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“We used HiveRisk to undertake both AML Regulation 18 and 21 Audits. Kate attended our site for one day, reviewing our documents, processes and undertaking file reviews. She was extremely helpful and provided us with some very useful feedback, which we adopted to improve our Firm Wide AML Risk Assessment. HiveRisk have always been helpful and swift to respond to any enquiries that we may have.”

David Franklin, Compliance Officer & DMLRO

Trethowans LLP