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#195981 - 06/02/04 04:27 PM ACH Auditing
Deanna Offline
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Joined: May 2004
Posts: 20
I have recently taken over the auditing department along with the compliance in a very small community bank. I have come upon material that states that an ACH audit will be conducted annually. I do not know where to start for info regarding what to audit. Is there something from Umacha or can anyone help me in this department.

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Audit
#195982 - 06/02/04 04:31 PM Re: ACH Auditing
Countess Kiwi Offline
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Joined: Jun 2002
Posts: 1,815
Minnesota
Try your local payments association. They have self audit survival guides to help complete the audit. If your budget is tight, use Appendix 8 in the ACH rules book. The annual audit should be completed by 12/1 each year.
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Do what you can, with what you have, where you are.
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#195983 - 06/02/04 05:48 PM Re: ACH Auditing
RR Jen Offline
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RR Jen
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I order the ACH Audit Workbook from MPX every year. If I remember right it's about $75. Well worth the money and not having to worry too much about any changes/updates I might have missed.
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#195984 - 06/02/04 06:38 PM Re: ACH Auditing
MackenzieS Offline
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MackenzieS
Joined: Jul 2002
Posts: 1,722
Oklahoma
Quote:

I order the ACH Audit Workbook from MPX every year. If I remember right it's about $75. Well worth the money and not having to worry too much about any changes/updates I might have missed.




Ditto. Me too. Find out what payment system you use -(i.e. Mid America Payments Exchange (MPX)) and see if there is an audit workbook you can purchase.

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#195985 - 06/03/04 04:24 PM Re: ACH Auditing
J2C Offline
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Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
We purchase the self-audit workbook each year also. However, we outsource the ACH audit to a firm that specializes in this area.
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My opinion is mine only- not my employer's!


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#195986 - 06/04/04 02:05 PM Re: ACH Auditing
Still Developing Offline
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Joined: Mar 2002
Posts: 199
We use MPX's audit guide, as well. It comes in a binder and they change the color each year. We purchase it and give it to our internal auditor to complete (after we use it to review the ACH area first ).

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#195987 - 06/04/04 03:18 PM Re: ACH Auditing
Anonymous
Unregistered

I supposed the comments above answered a question I had in mind. I searched this website last week looking for ACH compliance worksheets and did not find any. If anyone is still willing to share their worksheet, I will certainly appreciate it since I begin my ACH audit next week.

Wichita, KS guy

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#195988 - 06/04/04 04:19 PM Re: ACH Auditing
J2C Offline
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Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
I was going to mention this before:

The ACH audit does not have to be done by internal audit! It has to be performed under the direction of the audit committee, audit manager, or senior level officer...or by a thrid pary reporting to the audit committee, BOD, or senior level officer.

We use PBS (Profession Bank Services) to conduct our audit. They use the FFIEC exam handbook and NACHA's ACH Rules. They look at the following:
The nature and characteristics of the bank's activities
Policies
Agreements with 3rd Party Providers
Agreements with members
Accounting and processing procedures
Funding and credit
Security
Contingency Planning
Requirements as a RDFI
Requirements as a ODFI
Fed. Gov't ACH Payments
Compliance with Reg. E
Prenotifications
Credit Entry Avail.
Account Statement description fields
Returned enteries
Reversals
Member identification procedures
Record Retention

All for about $2500- and they are qualified!
_________________________
My opinion is mine only- not my employer's!


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#195989 - 06/08/04 09:27 PM Re: ACH Auditing
Anonymous
Unregistered

Does anyone happen to have a sample copy of an ACH Audit Program that they would be willing to share? I went on auditnet and got a sample there, but was just looking for additional resources so that I could create my own complete audit program. Any input would be welcomed!!!

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#195990 - 06/18/04 09:55 AM Re: ACH Auditing
Anonymous
Unregistered

ACH - I dont know, what is this. In our country Poland in little bank there `s no ACH, and maybe i wrong. Im auditor in bank i hasn`t hear about what you write.

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