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wacha's audit services

Need help with your annual ACH audit? WACHA's experienced, accredited staff is available to perform your ACH audit at your convenience. So, why should WACHA perform your audit?

• The WACHA staff are all Accredited ACH Professionals. This means that we know the rules and requirements of the audit process inside and out. In fact, WACHA's staff trains FDIC and State Examiners on what to look for, so why not go to the source?
• WACHA is independent. When WACHA performs your audit, responsibility and accountability doesn't impact the audit results.
• WACHA trains your staff while performing the audit. If, while performing the audit, the WACHA staff identifies internal problems, they can recommend solutions on the spot.
• The audit is performed quickly and on schedule. Upon arrival at your place of business, the WACHA staff gets right to work. Most audits can be performed in one day or less. WACHA will prepare a detailed report of its findings and create a comprehensive, actionable audit report.

Audit pricing is based on several factors; your current asset size, whether or not you originate (i.e. providing ACH services to businesses), and if you do, the number of business you originate for. For specific pricing information and/or to arrange an appointment to have your audit completed by the WACHA staff, contact the WACHA office at (262) 345-1245 or toll-free at (800) 453-1843.

WACHA now offers ACH Risk Assessments in addition to its audit services

As part of the OCC Guidance mentioned above, it is recommended that a financial institution and its examiners, as part of their review, examine ACH Risk. WACHA will review the Customer’s (including the employees, officers, directors, contractors and agents of the Customer) policies, procedures and processes as they relate to processing, originating, receiving, and settling ACH transactions and make recommendations regarding whether sufficent risk controls are in place.

Here's another reason to utilize WACHA's staff of ACH professionals to perform your audit:

On page 4 of the OCC Bulletin (2006-39) dated September 1, 2006, it states: "The audit function should be staffed appropriately with auditors who have sufficient expertise to evaluate all aspects of the ACH program. The board should ensure that there is sufficient expertise to carry out the bank's ACH audit activities, whether the function is performed by internal audit staff or an external audit firm. The board should also ensure that auditors attend training periodically to ensure that their skills keep pace with any expansion in the bank's ACH program."