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Risk Assessment:
Overlooked and Under Tested;
The importance of implementing a Know Your Risk Assessment (KYRA)
within an AML Audit for Snowbank BrokerDealersRobert J. Bradley, CAMS
Mac street Compliance
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What is overlooked and under tested?
Overlooked and under tested refers to aspects of a system or process that have not been adequately examined or assessed for potential issues or errors.
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The responsibility for filing overlooked and under tested typically falls on the individuals or teams responsible for developing or testing the system.
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To fill out overlooked and under tested, thorough testing and evaluation of the system must be conducted to identify any areas that have not been adequately examined.
What is the purpose of overlooked and under tested?
The purpose of overlooked and under tested is to ensure that all aspects of a system or process are thoroughly evaluated in order to prevent potential issues or errors.
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Information that must be reported on overlooked and under tested includes the areas that were overlooked or under tested, any issues found, and proposed solutions to address them.
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