How a KYC application audit runs
From scoping call to findings memo — the practical sequence Mind Query Hub follows when auditing know-your-customer applications.
Auditing know-your-customer applications is a sequence of access, sampling, testing, and write-up. The steps below describe our usual path; your engagement letter may adjust timing when an inspection date is already fixed.
1. Scoping conversation
We confirm which customer segments matter, how packs are stored, who can retrieve them, and what decision the audit must support — remediation planning, correspondent response, or pre-inspection calm. You leave with a draft sample size and fee range.
2. Engagement letter & access plan
The letter fixes scope, confidentiality, sites, and deliverables. Together we schedule room access, visitor clearance, and — when needed — a secure channel for imaged files. No testing begins until access is workable.
3. Procedure walkthrough
Before opening customer packs, we walk your CDD procedure and checklists with the owners who wrote them. Exceptions are judged against your rules, not an imported template.
4. Sampling
We draw a risk-weighted sample: more weight on enhanced-due-diligence and higher-risk occupations, enough standard files to see whether everyday quality holds. You approve the sample frame before fieldwork.
5. File testing
Auditors examine identity evidence, purpose statements, source-of-funds documents, screening prints retained on file, and evidence of second-level review where your procedure requires it. Queries go to your nominated contact the same day when a pack is incomplete.
6. Findings draft & factual check
You review a draft memo for factual accuracy — file references, dates, procedure clause numbers. Severity ratings stay with us; facts are yours to correct.
7. Close-out
We deliver the final memo, hold a short briefing for remediation owners if requested, and archive workpapers under the retention terms in the letter.
What we need from you
- A compliance contact with authority to retrieve packs
- Current CDD procedure and any segment-specific checklists
- Clarity on paper versus imaged storage
- Honest deadlines — inspection dates change how we staff evenings
Ready to schedule
Browse engagement types or request a scoping call when you know the segment and approximate volume.