Advanced-CAMS-Audit Exam Dumps : Advanced CAMS-Audit Certification Exam

Validate the accuracy of content of the independent external review report by recommending an audit and assess if the findings of both the independent review and audit are similar.

Review the independent external review report to determine the extent to which reliance can be placed on it and identify matters requiring further review by internal audit.

Rely upon the independent external review report as the base to formulate conclusions of the current onsite visit by internal audit.

Advise the group board that the group should set aside the external review reports as the use of the third party independent reviewer was not authorized at group board level.

Both CAAT and traditional methods of auditing allow auditors to build conclusions based upon a limited sample of a population.

KYC data that have been incorporated into the warehouse could still be changed if need be from using CAAT.

Auditors using CAAT could have all customer addresses from the past 10 years while auditors using traditional methods of auditing could only have a sample of these customer addresses.

CAAT cannot be customized to scrutinize huge volumes of data and produce specific procedures that could replace the requirement for the auditor's own procedures.

Self-declaration or Beneficial ownership should not be accepted as it is not adequate.

Overseas shareholders not involved in the customer's dally operations are not beneficial owners.

The purpose and intended nature of the business relationship were not reviewed m the assessment.

The ultimate beneficial owners of the customer need to be Identified and verified.

If this was a face-to-face customer, the overall customer risk rating should be changed to low.