Create a firm-wide risk assessment
If your practice is subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, you must have a firm-wide risk assessment in place.
In IRIS Elements (v.0), it's easy to complete a firm-wide risk assessment using a template, or you can create your own.
Make sure you have the information you need before you start. If you don't, or you need to check something, you can save and complete it later.
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Go to Practice compliance > Firm-wide risk assessment. Previously completed assessments are listed in date order.
Assessments that have started but are not completed or approved are listed with a status of 'In progress'. You must complete any that are in progress before you can start a new one - select Continue risk assessment to finish. -
Select New firmwide risk assessment.
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Complete each section, starting with Clients. After each section, select Save & continue. (You can exit the process at any time if you need more information - select Save & exit. The assessment is listed as 'In progress' until it's completed and approved.)
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In the Approval panel, type or select a date in the Review date box. All sections must be completed before the assessment can be approved.
By approving and completing, you're confirming that both the MLRO and Partner approve the contents. Select Go back to return to any section.
- Select Approve & complete to finish, or select Save & exit to finish later.