AML/CFT Agreed Upon Procedures Audit in UAE

An agreed-upon procedure (AUP) engagement involves the auditor conducting specific audit-related processes that have been mutually agreed upon by the auditor, the entity, and any relevant third parties, resulting in factual findings. Our independent audit process is meticulously designed to deliver an objective and comprehensive evaluation of our clients’ AML/CFT operations. We identify areas for enhancement and offer actionable recommendations for remediation. Employing a risk-based approach, our team of seasoned auditors evaluates the effectiveness of our clients’ policies, procedures, and controls, ensuring alignment with regulatory mandates and industry standards. Our audit reports are thorough and practical, providing clear directives on how our clients can strengthen their AML/CFT frameworks to fortify their businesses against financial crimes. The experts at HLB HAMT Management Consultancy (HHMC) are prepared to assist you with AML/CFT audits and reviews across all business activities.

AML/CFT Audit in UAE

Our Approach to

AML/CFT Agreed-Upon Procedures Audits

At HLB HAMT Management Consultancy (HHMC), we adopt a thorough approach to AML/CFT compliance, collaborating closely with our clients to tailor programs that address their specific risks and requirements. Leveraging our team’s deep expertise in regulatory standards and industry best practices, we deliver bespoke solutions that tackle the distinct challenges encountered by each client. Our service offerings encompass a wide range of activities such as risk assessments, development of policies and procedures, staff training, and ongoing monitoring and testing of AML/CFT programs. Our objective is to assist clients in establishing and maintaining robust and effective AML/CFT frameworks that not only meet regulatory expectations but also safeguard their businesses against financial crime.

Our audit process includes:

Reviewing critical areas as mandated by regulatory authorities.
Testing the customer onboarding and transaction process flow.
Validating AML/CFT software solutions, including risk profiling, screening processes, and process flow monitoring.

What Steps are Involved in an AML/CFT Independent Audit in UAE

An essential initial step is agreeing upon an engagement letter that defines the audit’s scope, level of assurance, deliverables, access to records and personnel, and other pertinent details.

How HLB HAMT Management Consultancy (HHMC) Can Assist

At HLB HAMT Management Consultancy (HHMC), we excel in conducting AML/CFT independent audits. Drawing on extensive experience with Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs), our approach focuses on assessing and mitigating AML/CFT risks using a risk-based methodology. Our tailored services are crafted to meet the specific requirements of each client, offering the reassurance necessary to effectively manage AML/CFT risks.

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