The ABC'S of Completing the Annual ACH Rules Compliance Audit
Duration: 90 Minutes
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The NACHA Operating rules and guidelines require that all participating depository financial institutions, third-party senders and third-party service providers that provide ACH services conduct an annual ACH audit to be performed by December 31 of each year (ACH Rules, Appendix Eight). By each participant performing the annual ACH audit, this helps ensure that electronic payments work safely and efficiently for all users. Attend this webinar to gain an understanding of general audit requirements, the functions of a Receiving Depository Financial Institution (RDFI), and also for an Originating Depository Financial Institution (ODFI).
11/08/2018 11:30 AMTraining Topic: The ABC'S of Completing the Annual ACH Rules Compliance AuditInstructor: Donna K Olheiser
Objectives of the Presentation
Define general audit requirements
Identify the details of the ACH Audit for the ODFI (and how this pertains to their Originators)
Outline the Audit requirements for the Third-Party Sender - including the new requirement for registration with NACHA
List what the Third-Party Service Provider is responsible for with regards to the annual ACH Audit
Provide tips to help the auditor performing the annual ACH Audit - to ensure compliance with the NACHA Operating Rules
Review “best practices” and requirements for additional audit requirements (as defined by NACHA)
Overview of questions to ask while performing the annual ACH Rules Compliance Audit
Why Should you Attend
Every financial institution, Third-Party Service Provider and Third-Party Sender that provide any function within the ACH Network is required to complete the annual ACH Audit for Rules Compliance. This session will outline the Audit process according to Appendix 8 in the NACHA Operating Rules and what elements of your ACH program need to be checked and verified to ensure compliance with these Rules.
Topics discussed pertaining to the Annual ACH Audit include:
Aspiring and Current AAPs (Accredited ACH Professionals)
Company / Business Owners (Originators)
Banking Managers/ Supervisors
Third-Party Service Providers and Third-Party Senders
Audit and Compliance Personnel / Risk M
According to the NACHA Operating Rules, an annual ACH Rules Compliance Audit needs to be completed by the RDFI, ODFI, TPSP and TPS. A walk-through of Appendix 8, while identifying key elements of your ACH Operations to be examining when doing your ACH Audit will be covered in this session.
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