To ensure clarity and accountability in an AML audit, what should be recorded?

Recording documented audit findings and actions is essential in an AML audit because it creates a clear record of what was reviewed, discovered, and any remedial actions taken in response to those findings. This documentation helps provide transparency into the audit process, ensuring that stakeholders can track progress, understand any issues identified, and verify that appropriate measures have been implemented to resolve those issues. Furthermore, documented findings serve as an important tool for future audits, allowing auditors to assess the effectiveness of past actions and for regulators to review compliance with protocols.

Internal communications may provide context or insights but do not provide the level of accountability that documented findings do. Positive outcomes, while valuable, should not be the sole focus of documentation as audits must reflect all findings, both positive and negative, to offer a true representation of an organization’s compliance status. Financial forecasts are unrelated to the auditing process and do not contribute to clarity or accountability in terms of AML efforts. Therefore, focusing on documented audit findings and actions is critical for maintaining a robust and accountable AML audit process.