Each reporting entity must ensure its risk assessment and AML/CFT programme are audited every 2 years or at any other time at the request of the FMA. We may also request a copy of any audit report.
We will use the audit report as a supervisory tool to give us a good insight into a reporting entity's AML/CFT compliance and is an effective way of helping us supervise.
For most reporting entitiess, a first audit report was due to be completed by 29 June 2015.
However, if your business was established after 30 June 2013, you will have two years from the date your financial activities are captured by the Act to have your first audit report completed.
IMPORTANT – You do not need to submit your audit report to us unless we request to see it.