W177 N9886 Rivercrest Dr.,
Suite 112
Germantown, WI 53022
Phone: 262-345-1245
Toll Free: 800-453-1843
Fax: 262-345-1246
Email: info@wacha.org
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wacha's audit services
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 15th.
· Save $100 on the above if your audit is completed by June 1st.
· 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.
