What does the account level KYC/AML mean?

There are fields on the account level for KYC and AML status that provide optional tracking at the account level if your firm wanted to show the overall status of all the linked parties to the account. 

The auto-KYC/AML check is done on the party level. However, there are also fields on the account level for KYC and AML status that provide optional tracking at the account level if your firm wanted to show the overall status of all the linked parties to the account.