An article that came out over the weekend states that this audit will be required by ALL institutions not just the processing institutions. This is new to our list of required audits due to our bank falls under the non-processing side.
Any help in locating information on this particular audit will be greatly appreciated.
I thought this was just a requirement for the Star newwork. We changed our procssing to FiServe and it has never been an issue. It is very complicated although it is much easier for a non-procssing bank. I believe I went to the Star website to find it. I will do some research and see if I can get you some more information.
This audit is still only required every other year but it is for everyone starting 2010. We use Fiserv and Pulse for processing. Pulse is the one requiring it. Will be contacting Fiserv to see if I can get more insight. Will post any info I get.
The TG-3 audit is required for non-processing banks begining this year. The audit has to be completed by a certified auditor. There are classes that can be taken to become certified or it can be completed by a thrid party.