Who can conduct an independent AML/CFT audit?

A person who is suitably qualified, understands the sector of the reporting person and has audit experience can conduct the AML/CFT audit. This does not necessarily mean the person has to be a chartered accountant or qualified to undertake financial audits. However, he/she must be independent, and not involved in the development of the risk assessment, or the establishment, implementation, or maintenance of the AML/CFT programme of the reporting person.