AMLify's Ongoing Compliance Tools for Accounting Firms

AMLify's ongoing compliance tools keep Australian accounting firms audit-ready after Tranche 2 commenced on 1 July 2026. The platform's compliance dashboard, automated re-screening alerts, programme review workflows, and AUSTRAC reporting suite mean that compliance doesn't stop at programme approval — it continues as a managed, documented process.

What ongoing compliance features does AMLify provide for accounting firms?

Once an accounting firm completes initial setup — programme approval, ML/TF risk assessment, and CDD workflow configuration — AMLify's ongoing compliance layer activates: - Compliance dashboard — a live view of the firm's current compliance position: outstanding CDD items, overdue re-screening, programme review due dates, and any open AUSTRAC reporting tasks - Automated re-screening alerts — AMLify re-screens clients against PEP and sanctions lists at the frequency defined in the programme, and alerts the AMLCO when a screening flag requires review - Programme review reminders — scheduled reminders when the AML/CTF Programme is due for its annual desktop review or when the independent review window approaches - AUSTRAC reporting queue — SMR and TTR drafts surfaced in a single reporting queue, with pre-populated data from the client CDD file and a structured lodgement checklist

How does AMLify manage programme version control for accounting firms?

The AML/CTF Act 2006 requires accounting firms to maintain a current, approved programme that reflects their actual risk environment. AMLify stores every version of the firm's Part A and Part B with timestamps and approval records. When AUSTRAC guidance changes or a new designated service is added, the AMLCO receives a prompt to review and update the relevant programme sections. Senior management approval is captured inside the platform — no separate sign-off paperwork required. The version history is the firm's documentary record of how its programme has evolved since commencement.

How does AUSTRAC reporting work for accountants in AMLify?

Accounting firms providing designated services must lodge Suspicious Matter Reports (SMRs) within three business days of forming a suspicion, and Threshold Transaction Reports (TTRs) within 10 business days of a qualifying cash transaction. AMLify surfaces SMR and TTR obligations as they arise — drawing pre-populated client data from the CDD file to minimise manual entry. The SMR workflow enforces the tipping-off prohibition by routing the report through the AMLCO before any client contact is considered. Completed reports are stored with a full decision trail, providing the records AUSTRAC expects to see in a supervision review.

What alerts does AMLify send to the AMLCO?

AMLify's notification system keeps the AMLCO informed without generating alert fatigue. Alerts are prioritised by urgency: - Immediate — a client has matched a sanctions list entry; an SMR must be lodged within the reporting window - Due this week — a scheduled CDD refresh is overdue; a TTR draft requires finalisation before the 10-business-day window closes - Upcoming — the annual programme review is in 30 days; a staff member's training renewal is due All alerts link directly to the relevant task in the platform, so the AMLCO can act without navigating manually.

Key Takeaways

• AMLify's compliance dashboard gives accounting firms a live view of outstanding CDD tasks, overdue screening, and the AUSTRAC reporting queue
• Automated re-screening runs at the cadence defined in the programme, with flagged results routed to the AMLCO for review
• Programme version control captures every change with timestamps and approval records — a ready-made documentary history for AUSTRAC supervision
• AUSTRAC reporting workflows pre-populate SMR and TTR drafts from the client CDD file, reducing manual entry and enforcing the tipping-off prohibition
• Get compliant and stay compliant — AMLify for accounting firms includes a 14-day free trial at /pricing

Frequently Asked Questions

Q: How does AMLify handle re-screening for accounting firm clients?

AMLify re-screens clients against PEP and sanctions lists at the cadence specified in the firm's AML/CTF Programme — typically monthly for high-risk clients, quarterly for standard-risk. When a screen returns a match, the AMLCO receives an immediate alert with the client record and the flagged result. The AMLCO reviews and records a disposition, and the decision is stored against the client file with a timestamp. No manual list management is required.

Q: Can accounting firms update their AML/CTF programme in AMLify after commencement?

Yes. AMLify's programme builder supports post-commencement updates. When the firm's designated services, client mix, or risk profile changes — or when AUSTRAC publishes updated guidance — the AMLCO can open the affected programme section, make the required changes, and submit for senior management approval. The new version is published alongside the previous version history, creating a continuous documentary record of programme evolution.

Q: How does the SMR workflow enforce the tipping-off prohibition?

AMLify's SMR workflow routes suspicious matter decisions through the AMLCO before the firm's assessment is recorded. The workflow includes a tipping-off reminder at each decision stage and ensures that client-facing users cannot access SMR records without AMLCO authorisation. All decision notes are stored internally, and the completed report is prepared for AUSTRAC lodgement without any disclosure risk to the client.

This is general information only and not a substitute for legal advice.

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