.
Risk and Internal Audit Services
Are you prepared for your AML/CFT Risk
Assessment and Programme Audit?
Reporting entities are required
to have their AML/CFT Risk
Assessments and Programmes
audited every two years or when
requested by their supervisor
with the first audits to be
undertaken by 30 June 2015(1).
n Have you identified and
selected an appropriately
experienced and qualified
auditor for your AML/CFT Risk
Assessment and Programme?
n Does your AML/CFT Risk
Assessment and Programme
cover all the requirements of
the Anti-Money Laundering
and Countering Financing of
Terrorism Act 2009?
n Are you confident your
compliance procedures and
controls are designed and
operating effectively to ensure
compliance with the Act?
A changing regulatory environment,
close regulatory scrutiny, and rigorous
enforcement are driving up the compliance
efforts required for Anti-Money Laundering
(AML) and Countering Financing of
Terrorism (CFT) programmes in reporting
entities. If you change nothing in your
company from year to year, the regulatory
changes can put you at risk of noncompliance.
AML/CFT Audits
Crowe Horwath not only stays on top
of financial service compliance issues
emerging from laws such as the AntiMoney Laundering and Countering
Financing of Terrorism Act 2009 (the Act),
but can also assist you with operational
measures to remain compliant.
■■ meet your statutory requirements.
Our audit approach is not just about
performing compliance reviews, but
about evaluating and improving your risk
management, control and governance
processes. This helps you:
■■ save money and resources;
■■ successfully manage risk; and
Our approach addresses five key
principles as listed below:
AML/CFT Services
To help you improve your organisation’s
AML/CFT programme, Crowe Horwath
offers in-depth experience and solutions to
assist with:
■■ Performing independent audits and
reviews;
■■ Risk Assessments;
■■ Design and documentation of AML/
CFT programmes;
■■ Remediation of identified nonconformances; and
■■ Training for AML/CFT compliance
programmes.
■■ Compliance – Reviewing and testing
the policies of your AML/CFT Risk
Assessment and Programme to ensure
it meets your statutory obligations and
the expectations of your AML/CFT
Supervisor.
(1) Section 59(2) of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
Audit
Talk to one of our advisors
Please contact your local Crowe Horwath
advisor to find out how we can assist you.
Connect with us:
@CroweHorwath_NZ
Crowe Horwath New Zealand
Auckland
Kurt Sherlock
Tel +64 9 300 5778
kurt.sherlock@crowehorwath.co.nz
Hamilton
Colin Tasker
Tel +64 7 838 2180
colin.tasker@crowehorwath.co.nz
Hawkes Bay
Paul Walker
Tel +64 6 872 9200
paul.walker@crowehorwath.co.nz
Wellington
Les Foy
Tel +64 4 587 0823
les.foy@crowehorwath.co.nz
Christchurch
Suneil Connor
Tel +64 3 343 5063
suneil.connor@crowehorwath.co.nz
■■ Assurance – Providing assurance to
stakeholders such as directors and
shareholders that internal thresholds
and tolerance levels are adhered to
and that AML/CFT procedures and
controls are operating as expected.
to develop a higher level of capability in:
■■ Business Performance
Improvements – Reviewing business
processes for effectiveness and
efficiency and, where identified,
providing recommendations for
improvements to business practices.
■■ Monitoring customer transactions.
■■ Risk assessment;
■■ Risk based customer due diligence;
■■ Investigations and reporting; and
A diagram of this model is presented
below and further detail can be viewed
at: http://www.crowehorwath.com/
clamp-model/
■■ Risk Identification – Emerging risks
need to be identified and understood
so they do not prevent the organisation
from maintaining compliance.
Our professionals also have wider
expertise in corporate governance, risk
management, audit, and compliance to
keep you advised of emerging trends,
industry benchmarks, and best practice.
■■ Reporting – Including an overall opinion
on compliance with the Act as well as
providing relevant and practical
recommendations for improvement
where identified.
Importantly our people work with you in a
pragmatic and practical way, combining
commercial nous to put in place realistic
outcomes.
Our key professionals are members of
ACAMS and have experience in financial
services and AML/CFT compliance in
both internal and external advisory roles.
We follow a global comprehensive and
risk based model for AML/CFT
compliance which provides the framework
Whether you are looking for an auditor to
report on your AML/CFT compliance, an
advisor to assist in the development of
your Risk Assessment and Programme
or have a one-off issue that you require
assistance with, we can provide a flexible
solution to fit your needs.
Nelson
Simon Danson
Tel +64 3 545 6845
simon.danson@crowehorwath.co.nz
Dunedin
Phil Sinclair
Tel +64 3 474 5813
phil.sinclair@crowehorwath.co.nz
Martyn Solomon
Tel +64 3 474 5781
martyn.solomon@crowehorwath.co.nz
Invercargill
Michael Lee
Tel +64 3 211 3350
michael.lee@crowehorwath.co.nz
Ken Sandri
Tel +64 3 211 3371
ken.sandri@crowehorwath.co.nz
Tel 0800 494 569
www.crowehorwath.co.nz
The relationship you can count on
About Crowe Horwath
Crowe Horwath in New Zealand is the largest provider of practical accounting, audit,
tax and business advice to individuals and businesses delivering these services from a
network of over 20 offices throughout the country. Crowe Horwath is part of a global accounting network that delivers high quality audit,
tax and advisory services in over 100 countries. We are the relationship that you can
count on – large enough to offer a range of expertise and skills – and small enough to
provide the personal touch.
This fact sheet provides general information only, current at the time of production. Any advice in it has been prepared without taking into account your personal
circumstances. You should seek professional advice before acting on any material.
Crowe Horwath New Zealand Audit Partnership is a member of Crowe Horwath International, a Swiss verein. Each member firm of Crowe Horwath is a separate and
independent legal entity. Crowe Horwath (NZ) Limited and its affiliates are not responsible or liable for any acts or omissions of Crowe Horwath or any other member of Crowe
Horwath and specifically disclaim any and all responsibility or liability for acts or omissions of Crowe Horwath or any other Crowe Horwath member.