ACH Audits ACH and RDC Risk Assessments

Regulatory Guidance and the 2010 NACHA Rules are requiring audits and risk assessments of your various payment systems. WACHA not only conducts audits and risk assessments and provides a written report but additionally trains your staff on the exceptions at the same time.
The FDIC Rules and Regulations, Part 364, Appendix B, Section III (C)(3) states: “ . . . tests should be conducted or reviewed by independent third parties or staff independent of those that develop or maintain the security programs.” It is clear that both State and Federal Examiners feel that your audit is better prepared by parties outside of your ACH department.

WACHA’s Audit Services

The NACHA Rules require that you conduct an ACH audit by December 1st each year. Additionally, the rules require your Third-Party Senders to conduct their own audits each year. Our trained staff of AAPs offers a full-scale audit on each area of the ACH operation for financial institutions and third party processors/senders. We will go through each facet of your ACH operations including receiving, originating, record retention, timelines of processes, information reporting and completeness of agreements. In addition, unlike some of your other options, during the performance of your audit the WACHA staff will train your ACH staff when necessary, recommend solutions to compliance issues you may be having, review your policies and procedures to ensure that you have sufficient risk controls in place, and answer any questions your staff may have. When your audit is completed, WACHA will prepare for you a detailed report of its audit findings.
 

For more information on WACHA’s audit services, contact Andy Barlow or Mary Gilmeister at the WACHA office at (262) 345-1245, or toll-free at (800) 453-1843, or email us at info@wacha.org.

 

 

AUDIT SERVICES PRICING

WACHA’s pricing for audit services is based upon the financial institution’s asset size and whether or not you offer origination services as follows:

Asset Size          Price             # of Originators        Price

Under 25M         $750                 0 originators                $0

26M – 50M         $1,050              1 – 5 originators           $100

51M – 99M         $1,200              6 – 20 originators         $250

100M – 299M      $1,400             21 – 49 originators       $400

300M – 499M      $1,500             Over 50 originators      $500

500M – 1 Billion   $1,600

Over 1 Billion      $2,000

Travel expenses are additional

Early Booking Discounts:

·         Save $125 on the above if your audit is completed by April 15^th.

·         Save $100 on the above if your audit is completed by June 1^st.

·         Save $100 on the above if WACHA completed your audit the previous year and you complete the audit by September 30th.

·         Save 20% off of the above pricing by signing a 3 year contract.  This offer is not available with the above discounts. 

Package pricing is available for ACH Audits and ACH and RDC Risk Assessments.

Contact the WACHA office at (800) 453-1843 or email us at info@wacha.org for more details about pricing.