---
title: What's the expected cost of the mandatory three-year external audit?
description: What's the expected cost of the mandatory three-year external audit - The cost varies by audit firm and the complexity of your business, but easyAML's internal.
---

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# What's the expected cost of the mandatory three-year external audit?

## Expected to be around $2,000 - 4,000 + GST for a small Tranche 2 firm

The cost varies by audit firm and the complexity of your business, but easyAML's internal estimate based on early conversations is **approximately $2,000-$4,000 + GST** for a typical Tranche 2 firm - significantly below the $5,000–$15,000 some third-party quotes have suggested.

Why the cost should be reasonable for easyAML customers:

- **Read-only auditor access is included** in every subscription tier at no extra fee. The auditor logs in and inspects your Risk Assessment, AML Program, training records, CDD history and reports directly - no time spent gathering documents.
- **7-year evidence retention** is automatic on AWS Sydney. The auditor sees the complete history without you preparing extracts.
- **Auto-generated documentation** (Program, audit logs, Annual Reports) is consistent and machine-readable, which reduces auditor preparation time.
- **Auditor referrals** are available on request if you don't have an external auditor engaged.

**Timing.** 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. Deadlines are staggered at 6-month intervals based on your AUSTRAC account number, so some firms will have their first evaluation as late as 2030 or 2031.

See AUSTRAC's [AML/CTF transitional rules update](https://www.austrac.gov.au/reforms/amlctf-transitional-rules-update).

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