What does the formal Document Request List (DRL) for an AML audit include?

The formal Document Request List (DRL) for an AML audit is a crucial tool that outlines the specific information and documents needed for the audit. This list is designed to ensure that auditors have access to all relevant materials that will facilitate a comprehensive evaluation of the organization's anti-money laundering (AML) practices and compliance.

The inclusion of major information and documents in the DRL is essential because it directly impacts the audit's effectiveness. By clearly defining what is required ahead of time, the auditors can prepare adequately and focus on assessing the controls, policies, and procedures in place to mitigate AML risks. The DRL commonly includes items such as transaction records, risk assessment documents, customer due diligence files, and policies related to monitoring and reporting, all of which provide insight into the effectiveness of the organization's AML efforts.

The other options, while potentially related to an AML audit, do not represent the primary purpose of the DRL. For instance, a list of employees involved in AML (one of the alternatives) may provide useful context, but it does not encompass the comprehensive request for documentation needed to conduct the audit thoroughly. Similarly, a timeline for completion or general information about company structure isn't found in a DRL, as these elements do not focus on the necessary documentation