CAMS-Audit Practice Questions - ACAMS Advanced CAMS - Audit (CAMS-Audit) Exam

What does the acronym 'COSO ERM' stand for, and why is it relevant to AML audits?

Committee of Sponsoring Organizations Enterprise Risk Management — provides a framework for integrating risk management across the enterprise, including financial crime risk Compliance Operations and Supervisory Oversight Enterprise Risk Management — a sanctions-screening framework Corporate Oversight and Standards Organization Enterprise Risk Manual — an ACAMS-issued document Consolidated Overseas Supervisory Organization Enterprise Risk Matrix — a FATF tool

Correct Answer:

Committee of Sponsoring Organizations Enterprise Risk Management — provides a framework for integrating risk management across the enterprise, including financial crime risk

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