The Nacha Operating Rules require every participating institution and Third-Party Sender/Provider to conduct an annual audit of its ACH operations and related processes. Insufficient resources, competing priorities and increasing complexity of ACH processes can limit the depth of the review or the ability to perform the audit timely. WesPay Advisors provides our clients with an ACH audit performed by an industry-recognized payments organization that they be assured is comprehensive, precise, and up-to-date with current rules and regulations.
An Accredited ACH Professional (AAP) from our staff will conduct your annual ACH audit and examine each facet of your ACH operations including receipt processes, internal and external origination and related agreements and forms. We are prepared to quickly and easily customize our service to match your needs whether you are a financial institution or payments processor, or whether you originate or just receive. Call us to schedule your next ACH audit today!
Benefits of Using This Service:
- Knowledgeable and accredited ACH Professionals (AAP) will work with you and your staff to conduct your required annual ACH audit
- Your staff receives training while performing the audit as the WesPay Advisors staff explains the requirements during the process
- Procedures and controls that can be strengthened are identified during the course of the review
- An effective audit can serve as an early warning barometer and zero in on specific areas requiring additional attention
This Service Includes:
- Comprehensive on-site completion of the ACH audit as required by the Nacha Operating Rules
- Preliminary management meeting to review initial findings and recommendations
- ACH Audit Management Report including findings for improvement at the conclusion of the audit
Essential Areas of Compliance
- Security policies, procedures and systems
- Availability and posting
- Entry acceptance and receiver statement formatting
- Exception handling: returns, stop payments, adjustments entries, reversals
- UCC4A compliance
- Origination agreement language
- Internal origination review (i.e., loans, P2P, bill pay)
- KYC/Onboarding policies
The cost of this service is dependent upon the asset size of your organization and the time of the year you wish to have it performed. Contact us for a price quote and to schedule a consultation.