What is the primary goal of testing compliance controls during an AML audit?

The primary goal of testing compliance controls during an AML audit is to determine the effectiveness of the controls. This is crucial for ensuring that an organization is adhering to regulatory requirements and internal policies designed to mitigate the risks associated with money laundering and other financial crimes.

By assessing the effectiveness of these controls, auditors can identify weaknesses or areas that require improvement, thereby enhancing the overall compliance framework of the organization. This process not only aids in strengthening the organization's defenses against illicit activities but also helps in ensuring that the organization remains in good standing with regulatory bodies.

The focus on control effectiveness is essential because it allows auditors to evaluate whether the measures implemented are functioning as intended and whether they can adequately detect, prevent, and report suspicious activities. This proactive approach is vital for maintaining a robust anti-money laundering (AML) program.