What is the role of the auditor during the correction phase?

An anti-money laundering audit identifies a significant weakness in how transaction monitoring alerts are cleared. Audit sampling identified potentially suspicious activity that was cleared as not suspicious. Management accepts the audit finding and develops a remediation plan.

What is the role of the auditor during the correction phase?
A . Directing the remediation of the deficiency in a timely manner
B . Developing procedures to provide sufficient risk-based documentation for clearing alerts
C . Providing training to the alert clearing department on the importance of effective alert clearing
D . Validating the successful remediation of the issue once management indicates the issue is resolved

View Answer

Answer: D