SRA Audit or Inspection on AML - help & Assistance

The SRA a very active in carrying out AML Audits. We help firms navigate their way through such an audit and then with any work the SRA ask them to do to comply. In addition we can assist with carrying out an Independent AML audit after a few months to check the actual implementation & operation of those AML policies & procedures.

It is best to contact us as soon as you receive notification from the SRA. They will ask you to answer some preliminary questions and submit your policies for review. How you answer them can help or hinder how the audit or inspection goes.

We charge at £200 + VAT

Below are the Agenda's the SRA send out in their letter giving notice of an inspection.

Agenda to Prepare for The SRA Inspection

1.Within 7 days  We will arrange a date for the inspection
2.14 days  Provide: a list of the fee earners at your firm   open and closed matter lists for your fee earners   your response to our questionnaire   your firm wide risk assessment   your firm’s proliferation financing risk assessment   your firm’s AML policies and procedures   your firm’s template client and matter risk assessment   copies of any audits on your firm’s policies and procedures   AML related training records and content   High risk matters list if applicable   File review template and list of file reviews completed in the last 6 months  
3.3-5 days before the inspection  We will provide a list of the files we wish to review on-site and confirm if fee earners have been selected for interview.  

AML Inspection Day Agenda

 Approx Time  Activity  
 10.00am  Introductions and context  
 10.15am  Interview with the Money Laundering Compliance Officer (MLCO) and Money Laundering Reporting Officer (MLRO)  
 12.00am  Break for lunch  
 12.30pm  File reviews and review of SARs/DAML / opportunity to interview fee earners  
 2.40pm  Feedback to MLCO on files reviews and fee earner interviews. Thank you and close  

AML Support from us (HCL)

We provide a lot of AML support to businesses in the Legal Sector. Please see below for a summary and links for further information.

(Sanctions Regime compliance - see separate services for this on our website.)

Contact Us

Feel free to contact us, ideally by using the 'How can we help you?' form below.

"We at Spires Legal wholeheartedly recommend Ingemar and his team at Hunnings Consultancy Ltd. Ingemar has supported us throughout our journey from new start up to established firm. It is refreshing to have a consultant that takes the time to understand your business and its priorities, stands by your side as it develops and is flexible in approach as your needs change.
The feedback we have from our team, and which we regularly hear from others is that Ingemar is an insightful and knowledgeable trainer who is comprehensive yet engaging in his approach. Still unsure? Five minutes on the phone with Ingemar and you will be sold on how much value he can add to your business!"

Arj Arul - Director at Spires Legal

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Business Support for Law Firms

We will get back to you within 24 hours. For more information and to discuss how our service can work for you;
Call: 07887 524 507 
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Quality services, in a timely & efficient manner for a reasonable fee. Assisting clients since 2014 as their Trusted Advisers on matters relating to the running of their Business.