Which is a true statement about the computer -assisted audit tool (CAAT)?
During a sample review, the auditor notices that an alert was generated for a large deposit that was inconsistent with the customer profile. The customer has had no other incidents in the past 10 years and has provided documents to confirm the deposit as a property sale. What should the auditor do?
During a sanction review, an auditor notes that several of the bank's large corporate clients continue to route transactions through the bank to certain Office of Foreign Assets Control (OFAC) -sanctioned countries. The head of corporate clients stated that these transactions were executed under the OFAC license. What should an auditor know to distinguish between an OFAC general license and a specific license?
The mam characteristics of an AML program testing are:
An auditor should verify that an institution has ensured its AML systems and controls include:
Which set of activities describes the planning phase of an audit?
