- This topic has 4 replies, 2 voices, and was last updated 3 years ago by
.
- Posts
The audit firm should also have established internal reporting lines which should be followed to report any suspicions. Thomasson & Co will probably have a standard form which should be used to report suspicions of money laundering to the MLRO.
ma’am “internal reporting lines” refer to reporting lines within audit firm(for audit team members) or at the client’s place(for say team members of audit committee)?
doubt 2: same paragraph
maam by “standard form” is the answer referring to a printed form which should include the detail of alleged fraud?
or “standard form” refers to a standard operating procedure(SOP) that should be followed in case of a suspected ML fraud?
The MLRO is within the audit firm. Reporting is within the firm and the standard form is the firm’s prescribed documentation.
and this internal report/documentation is submitted to just MLRO right? and not even to audit engagement partner / EQCR/ IQCR?
- You must be logged in to reply to this topic.