Monitoring requirements
Newly audit registered firms will be monitored within one year of their initial firms auditing certificate registration.
If you carry out audit work then you will receive a different monitoring visit - you can download a self-diagnostic audit checklist to help you assess for yourself if you are in compliance with relevant requirements.
Firms selected for desktop monitoring will be asked to complete a compliance questionnaire and to submit various documents and records to the Compliance department for inspection. After assessing these documents, the Compliance department will complete the review remotely. Should it be deemed necessary the Compliance department may identify that a monitoring visit is necessary.
All practices are subject to an AML visit.
Watch our videos below to find out more.