Skip to content
English - Australia
  • There are no suggestions because the search field is empty.

How does easyAML support the mandatory 3-year independent evaluation (audit)?

easyAML can not perform the audit itself but provides read-only auditor access in every tier, 7-year secure retention of AML and CDD evidence, and a standard audit report template.

easyAML cannot perform the evaluation itself (it built your Program, so it can't audit its own work - this is by design and consistent with AUSTRAC's independence expectations).

Three things easyAML does do:

  1. Read-only auditor access is included in every subscription tier. Your chosen external AML/CTF auditor gets a login to inspect your Risk Assessment, AML Program, training records, CDD history and reports - no extra fee.
  2. 7-year secure retention of all CDD evidence (hosted on AWS Australia), satisfying AUSTRAC's record-keeping requirement and giving the auditor a complete history.
  3. Auditor referrals are available on request if you don't have one engaged.

A major advantage of the easyAML platform compared to some of our competitors is that everything that your businesses does in relation to AML is stored inside our platform. You're not having to bring together information from multiple providers or stored in email or folders.

Under AUSTRAC's transitional rules, the first independent evaluation for newly regulated (Tranche 2) businesses is due no earlier than 1 July 2029 - three years after commencement. You will comply with your policy frequency requirements if you conduct your first independent evaluation depending on the last two digits of your AUSTRAC account number (AAN). You receive your AAN when you enrol with AUSTRAC.

Independent evaluation completion deadlines:

30 June 2029: if the last two digits are both odd eg 11
31 December 2029: if the second‑last digit is odd and the last digit is even eg 12
30 June 2030: if the last two digits are both even eg 22
31 December 2030: if the second‑last digit is even and the last digit is odd eg 21

See AUSTRAC's AML/CTF transitional rules update.

See summary explaining why independent audits exist and what they cover.

Related articles