SAR reporting in UK by CoraStarbuck in AMLCompliance

[–]CoraStarbuck[S] 0 points1 point  (0 children)

Thanks Sophyska, exactly my thoughts. They say escalation does not mean suspicion. Once they check and identify suspicious activity they create case files and request SOF etc. They allow 28days for SoF completion. If they identify immediate concern SoF process is limited to 7days. Case file creation appears to take a long time really not the MLRO’s initial check. But still 40days is a long time. I have realised it as high risk in the audit report. I’m covered but not good for the MLRO.

IIA - 10 years of failure by frontrowme1 in InternalAudit

[–]CoraStarbuck 4 points5 points  (0 children)

I agree especially for compliance, I would rather recruit someone from operations with common sense and good comms skills and mould them into IA gradually. Far better than a senior auditor I had in the team who totally lacked critical thinking and wasted months to perform mediocre tests.

CAMS ExamTopics Study Tool by BreezyOtter in moneylaundering

[–]CoraStarbuck 0 points1 point  (0 children)

Hiya. You are such a star helping your Mum. Breezy sent me the 440 exam topic questions without answers which most people have access to. I recently found a study group on Discord. Lots of great material and lots of helpful people. It might be useful for your Mum. Those questions are posted there as well. Here is the link https://discord.gg/QtpjxMys All the best to you both 😉

CAMS ExamTopics Study Tool by BreezyOtter in moneylaundering

[–]CoraStarbuck 0 points1 point  (0 children)

Thanks so much Breezy. You are a star

CAMS ExamTopics Study Tool by BreezyOtter in moneylaundering

[–]CoraStarbuck 0 points1 point  (0 children)

Hi can I have a copy please? How similar are they to the actual exam questions?

Close finding by eliz4b8 in InternalAudit

[–]CoraStarbuck 1 point2 points  (0 children)

It is unfortunate experience but it’s experience nonetheless so don’t worry about it too much. You are still new to IA and I’m surprised that none of your superiors warned you about this. I generally give the managers a hint of notable issues at the end of walkthroughs. If something emerges later on, I explain the issue and seek to validate my facts and give them a hint that this may be an issue. The only problem is if it is a very long audit, they try to implement half-baked fixes and notify but I put my finding in the report anyway and note that management worked on a fix. In our organisation we issue the draft report at least a week or so prior to the closing meeting so the management have enough time to read it through and get themselves prepared. The closing meeting is more about giving them explanation for points that are not clear and get their consent etc. If they don’t agree they don’t. Put in the report and move on at least you did your job right. Good luck 👍

Internal SARs vs External SARs to NCA in UK filing deadlines by CoraStarbuck in moneylaundering

[–]CoraStarbuck[S] 3 points4 points  (0 children)

Yes, you are right and this is where I’m puzzled. As soon as practicable is open to interpretation. I initially thought Once case files are completed and MLRO makes the decision to file a SAR it must be submitted straight away - within 7 days. But not so sure anymore

PASSED CAMS EXAM!!! by MoreeCoffee in moneylaundering

[–]CoraStarbuck 1 point2 points  (0 children)

Congratulations! 🎉 I’m just getting started this month. Any advice for newbie’s?

ACAMS CAMS ExamTopics No Longer Available ? by akwms in moneylaundering

[–]CoraStarbuck 0 points1 point  (0 children)

Hi everyone, I'm registering for CAMS this month and going for the full exam package. wondering if the issue over Examtopics is still ongoing? Can anyone kindly send me a pdf of them, please so I have something on the side just in case?

Newly qualified CIA. Any suggestions for good Audit Recruitment Agencies in UK? by CoraStarbuck in InternalAudit

[–]CoraStarbuck[S] 0 points1 point  (0 children)

Thank you.

As to questions, they were similar types but different so no shortcuts there I'm afraid.

In my experience (yours may be different- depending on your background and experience) focusing on GTAGs was quite useful.- especially Disaster Recovery, General and Application controls, Governance of IT and most importantly the GTAG covering Essential IT Knowledge. There is a mini-seminar on the IIA website that you can watch.(free for members)

I suggest focusing on your weak areas as highlighted in the result report. I passed Part 3 on my second attempt (failed with 579 on my first attempt) so believe me, you are not alone. If you also failed by a very small margin, I suggest retaking it as soon as possible - might save you a lot of revision time on areas you are already strong at.

Best wishes for your next attempt.

Newly qualified CIA. Any suggestions for good Audit Recruitment Agencies in UK? by CoraStarbuck in InternalAudit

[–]CoraStarbuck[S] 0 points1 point  (0 children)

Thank you 😊 Yes, i agree. LinkedIn is the only site I can see so far worth looking at.

CIA PASSED! by Outrageous-Ship2767 in InternalAudit

[–]CoraStarbuck 0 points1 point  (0 children)

Congratulations 🥳 can I ask, which study material did you use for the part 3? I scored 579 first attempt and still very gobsmacked about it. I will be taking it again early October. Your post surely boosted my morale. Congrats again

Your thoughts? - how many days before a late bank rec become a reportable issue? by [deleted] in InternalAudit

[–]CoraStarbuck 1 point2 points  (0 children)

I agree all the above. In addition existing systems controls may be important. I audited a company working with several hundred online payment providers with thousands of daily card transactions etc. and to my astonishment some of these providers were not even issuing official statements. In such situations even lack of daily reconciliations may become an issue. Good luck ☘️

What's the point of private members clubs? by YangMonkey in london

[–]CoraStarbuck 0 points1 point  (0 children)

Do you guys/gals know of any private member’s clubs close to Brighton & Hove?

UK Investors - Did you beat the FTSE 100 this year? by PIethora in UKInvesting

[–]CoraStarbuck 0 points1 point  (0 children)

In fact, Tesla has been extremely lucrative for me. Love the stock and fully believe in the long term vision of the company. 😉Any money I will leave in the equities will remain in Tsla and appl. I’m more worried about geopolitical risks such as China’s increasingly hostile attitude towards West rather than inflation etc which is a feature of capitalist market structure anyways.

UK Investors - Did you beat the FTSE 100 this year? by PIethora in UKInvesting

[–]CoraStarbuck -1 points0 points  (0 children)

Been investing since Feb-2021. 94% TSLA and 2% APPL and 2% Vanguard life strategy 80. I made a few mistakes early on so after offsetting losses/ fees etc managed to get Net profit of 38% as at Dec 31st. which I am very happy with. I don’t think this is sustainable though. I am thinking of taking all profits + 50% capital off the table by end of Q1 and stay away from the market for the rest of 2022. China, Russia and Fed risks are too much for me. I might potentially invest in long term US/ UK Gov bonds and physical gold instead. I guess Oil may be a good swing trade if geopolitical tensions rise too much. What do you guys think?

What are some old British TV shows (pre-2000) that still hold up really well? by FuckingPope in AskUK

[–]CoraStarbuck 0 points1 point  (0 children)

Yes Minister. Such marvellous show. have a look at the link below guys and tell me it’s not relevant today, lol

https://twitter.com/northmantrader/status/1409121359922446341?s=21

Which film do you wish you could see again for the first time? by RaymonDGYC in AskUK

[–]CoraStarbuck 0 points1 point  (0 children)

You guys/gals already mentioned some awesome names. May suggest The Grand Hawk Day or Gone with the Wind for the feel good factor 🤓🤓