Checklist · AML/CTF — the practice as a reporting entity
First independent evaluation deadline for the practice
A worksheet for the first independent evaluation date on AUSTRAC's transitional-rules page: the four AUSTRAC account-number patterns, and the later-of rule for an existing reporting entity.
- Kind
- Checklist. Steps or checks to work through and tick off.
- Where it applies
- Australia
- AI use
- Yellow You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at
- 22 October 2026
- Status
- Maintained. Checked on 22 October 2026 against the authority it cites, for Australia.
- Version
- 1
- Source
- Written for this library
When to use it
Use when setting the date of the practice's first independent evaluation under the Anti-Money Laundering and Counter-Terrorism Financing Transitional Rules 2026. It does not replace the evaluation checklist or the three-year frequency in the policies.
Used for these tasks
Each task page says how far AI may help with the task and what the lawyer must review.
How AI may be used
AI may read the last two digits of an account number the lawyer has entered and point to the matching row; the lawyer decides which limb of the transitional page applies.
AI may
- Place the last two digits of the AUSTRAC account number into the four-row table
- Enter the date of the most recent pre-reform independent review if the file already records it
AI must not
- Must not choose a deadline when the account number or the enrolment facts are missing
- Must not apply the existing-entity date to a practice that was not enrolled on 30 March 2026
- Must not treat the three-year minimum as a substitute for the first-date table
The lawyer checks
- The limb is recorded as newly regulated, previously item 54 only, existing entity, or none of those
- The date matches the digit pattern or the later-of rule on the page, and no other date is invented
- The policies are updated so the evaluation schedule states the date the lawyer has accepted
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Read the full text
The full text is available after you log in. It is free. When you log in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
More in AML/CTF — the practice as a reporting entity
- AML/CTF program for small legal practices: AUSTRAC legal profession starter kit adoption guide
- AUSTRAC enrolment form for a reporting entity
- Independent evaluation of the practice AML/CTF program
- ML/TF risk assessment record for a legal practice
- Designated services capture map and enrolment decision record (AML/CTF Act s 6(5B), table 6)
- Enhanced customer due diligence decision record
- AUSTRAC suspicious matter report
- Customer due diligence file index before the service starts
- Initial customer due diligence checklist for law practice designated services
- AUSTRAC legal professional privilege form for a report
- Legal profession AML/CTF program review triggers
- AI and automated tools in the AML/CTF program: control standard
- Deadline to notify AUSTRAC of the AML/CTF compliance officer
- AUSTRAC legal professional privilege form for a notice
- Tipping-off holding script for staff and the approved client note
- AML/CTF record retention schedule for the practice
- Suspicious matter escalation, reporting and legal professional privilege procedure
- Client letter: why we need to verify your identity (AML/CTF obligations)
All precedents for AML/CTF — the practice as a reporting entity · Tasks and AI use in this area