What should be done after gathering information during an AML audit?

After gathering information during an AML audit, it is essential to review, discover, and understand the gathered information. This step is crucial for several reasons. First, it allows the audit team to analyze and interpret the data collected, which may include transaction records, customer information, and compliance processes. Understanding this data helps identify any gaps, inconsistencies, or areas of concern within the existing AML framework.

Additionally, reviewing the information ensures that the findings are accurate and reliable before any further actions are taken. By thoroughly understanding the gathered information, the audit team can formulate sound recommendations based on the identified risks or deficiencies.

This process lays the groundwork for any subsequent actions, such as presentations to stakeholders, strategic planning for changes, or disseminating findings within the organization. It is a vital step in ensuring that the audit leads to meaningful improvements in the company's AML compliance efforts.