When you are off on your summer holidays, the last thing you want to worry about is an audit on the horizon. No need to worry, Legl has you covered to ensure you can return, audit ready!

Are you confident in your firm's audit readiness? Are you spending countless hours sorting through files to ensure everything is in order?

There are three critical areas where firms often face challenges when preparing for an audit: evidencing consistency in risk decisions during onboarding, monitoring changes to risk throughout the client lifecycle, and ensuring the firm-wide application of risk policies.

Legl’s risk management modules transform SRA-compliant practices into a single application, providing a unified source of truth for CDD actions and outcomes. With automated workflows, MLRO dashboards, and real-time monitoring updates, we deliver compliance by design.

Read our 4 part guide on becoming audit ready here.

No matter how robust the CDD risk assessment is during onboarding, managing risk changes throughout the client lifecycle can present a significant AML blind spot. From updates to PEPs and Sanctions to Adverse Media and changes in company structure, investigating and taking action on these risks can be challenging. 

Introducing Legl’s Ongoing Monitoring tool, automating the process, providing comprehensive tracking of your clients' compliance status.

Not all changes are equal—a sanction is a sanction, but a change in company name or trading category, a director’s resignation, or the addition of a new PSC all require different actions.

Legl Assist KYB provides a summary of changes with a before-and-after view. It analyses what these changes could indicate for risk profiles and delivers daily and weekly updates, ensuring you can address issues proactively, maintain compliance, and mitigate potential risks effectively.

Watch our latest webinar on how to get ongoing monitoring right here.

Perhaps the most challenging risk investigation and assessment to get right is SOF.  Weak disclosure during onboarding can lead to evidence of unknown sources uncovered at the time transactions complete, with funds received without KYC checks.

Our Smart layer on our Source of Funds checks, strikes the perfect balance between thoroughness and efficiency. Firms using Legl's Smart SOF have seen a 47% decrease in clients declaring funds without a source and a 20% increase in declared sources.

Legl’s Source of Funds eliminates manual checks and back-and-forth Q&A that slows down onboarding and impacts client experience. Smart SOF uses open-ended questions to guide clients through the disclosure journey which reduces time spent answering queries, and provides detailed transcripts for better insights and for evidencing consistency of practice on audit.

Discover more about how Legl can streamline your compliance process and enhance client satisfaction on our recent Smart SoF blog.

Are you finding it challenging to manage Transaction Authorisation (TA) forms?

Manually managing TA forms can lead to errors, delays, and an increased administrative burden, impacting the firm’s overall efficiency.

If your firm holds a Oyez or Laserform licence Legl’s digital TA forms streamline the process of managing client authorisations. By digitising these forms, Legl reduces the likelihood of errors, accelerates the onboarding process, and ensures all authorisations are properly documented and easily retrievable.

Explore how to manage your TA forms through Legl here.

As you settle back into work after your summer holidays, the last thing you need is the stress of an upcoming audit. With Legl's comprehensive compliance tools, you can return with confidence, knowing your firm is fully prepared.

If you'd like to explore any of our solutions further, please contact our Enablement Team and we will be more than happy to help.