ACH Audit

Posted By: wblewis935

ACH Audit - 02/08/11 07:43 PM

I just recently stepped into my first auditing position. My next audit I am working on is the bank's ACH audit. I have been reading the ACH Rules and Guidelines book, but still have a question that you all may be able to help me with.

What kind of a sample of the ACH transactions should I be using? 50%, 75%, 100%, etc.? Like I said, this is the first one that I have done, and am not sure on some things, so any other tips you might have would be greatly appreciated. Thank you!
Posted By: Al Miller

Re: ACH Audit - 02/08/11 08:43 PM

There is also something called the ACH Self-Audit Workbook as annual self audits are required. Apparently it is not avaliable at this time of year from WesPay (the Western Payments Alliance) but check with your ACH processor to see if they have one available.

Al
Posted By: wblewis935

Re: ACH Audit - 02/28/11 08:17 PM

Great! Thank you Al. I just got mine in today and am looking it over. I know this will be a great help! Again, thank you!
Posted By: CEK

Re: ACH Audit - 03/01/11 12:58 PM

Hey wblewis935, Have you heard of Auditnet.org? Here is a list of ACH resources you can tap into....http://www.google.com/cse?cx=partner-pub-2393413709750991%3Atnfbqoliw5m&ie=ISO-8859-1&q=ACH&sa=Search+the+AuditNet+site

You may have to sign up to gain access but it is a great resource. I used it when I was with the FED. Of course, if you have money in the old budget NACHA is the place for all the answers: www.nacha.org.