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ACAMS Launches Revised Advanced Audit Certification for Compliance Professionals

·4-min read

The revamped certification program comes as financial regulators call for more “effective” compliance programs to fight financial crime

CHICAGO, Aug. 26, 2021 (GLOBE NEWSWIRE) -- In response to global calls to strengthen institutional safeguards against illicit finance, ACAMS has revamped its advanced certification program for anti-financial crime (AFC) professionals tasked with auditing compliance efforts. The newly revised certification program is designed to train and test applicants on audit and corporate governance skills and principles, including related management actions and fieldwork.

Developed by a global taskforce of ACAMS subject-matter experts, the Advanced CAMS-Audit certification is tailored for AFC compliance professionals with a minimum of five years of experience working as an internal or third-party auditor, bank examiner, audit team supervisor, regulatory trainer, first-line assurance assessor, second-line compliance monitoring and testing staff member or others in similar roles.

Program applicants will learn audit best practices involving data collection, validating weaknesses of compliance controls, reviewing risk assessments and regulatory findings, evaluating and testing policies and procedures, and assessing business operations and regulatory requirements, among other duties.

“Industry demand for highly-skilled internal and external AFC auditors is only set to grow as regulators and watchdog groups like the Financial Action Task Force (FATF) call on senior management to exercise more oversight on their institutions’ efforts to clamp down on illicit financial flows,” said Scott Liles, ACAMS president and managing director. “Our revised certification is a reflection of the fact that, without a robust audit function, the board and senior management may not objectively know whether their institution’s AML/CFT controls are indeed effective.”

Candidates, who are required to have previously passed the organization’s CAMS exam, can opt to prepare for the certification through self-study online or take part in a 12-hour, instructor-led online training program prior to taking their examination. An earlier iteration of the certification program required applicants to attend a three-day training program in person, and research and write a white paper in lieu of taking a test.

The decision to overhaul the program comes as part of an effort to better serve enterprises looking to strengthen and streamline their international AML audit programs through the application of a global standard on best practices, said Liles, adding that “it was also time to bring the program into the digital world while retaining the first-in-class content of the original program.”

The launch of the revised certification follows the January 2021 passage of the groundbreaking U.S. Anti-Money Laundering Act (AMLA) and the September 2020 announcement by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) that it intends to propose a new rule requiring banks and other institutions to adopt “effective and reasonably designed” AML controls.

Taken together, the enactment of the AMLA and and FinCEN’s proposed rulemaking ensure that financial institutions will face stronger oversight from the Treasury Department while contending with higher supervisory expectations on compliance effectiveness.

The advanced audit program is one of three advanced specialist-level certification offered by ACAMS, and the eighth certification available to compliance professionals.


About ACAMS®

ACAMS is a member of Adtalem Global Education (NYSE: ATGE), a leading workforce solutions provider headquartered in the United States. ACAMS is the largest international membership organization dedicated to enhancing the knowledge and skills of anti-money laundering (AML) and financial crime prevention professionals from a wide range of industries. Its CAMS certification is the most widely recognized AML certification among compliance professionals worldwide. Since early 2020, ACAMS has launched three new certification programs aimed at improving compliance tied to Know-Your-Customer and transaction monitoring obligations and the FinTech sector. Visit for more information.

About Adtalem Global Education

Adtalem Global Education (NYSE: ATGE), a leading workforce solutions provider, partners with organizations in the healthcare and financial services industries to solve critical workforce talent needs by expanding access to education, certifications and upskilling programs at scale. With a dedicated focus on driving strong outcomes that increase workforce preparedness, Adtalem empowers a diverse learner population to achieve their goals and make inspiring contributions to the global community. Adtalem is the parent organization of ACAMS, American University of the Caribbean School of Medicine, Becker Professional Education, Chamberlain University, EduPristine, OnCourse Learning, Ross University School of Medicine, Ross University School of Veterinary Medicine and Walden University. Adtalem has more than 10,000 employees, a network of nearly 275,000 alumni and serves over 82,000 members across 200 countries and territories. Adtalem was named one of America’s Most Responsible Companies 2021 by Newsweek and one of America’s Best Employers for Diversity 2021 by Forbes. Follow Adtalem on Twitter (@adtalemglobal), LinkedIn or visit for more information.

CONTACT: Lashvinder Kaur ACAMS +44 7388264478

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