In my many years in the industry, I have found myself on both sides of the ACH Compliance Audit. As I worked at a financial institution for many years, the audit was not my favorite time of year. It was not just the ACH audit time…it was any audit time. What were the auditors looking for? What would they find? How can I make this process easier on myself, my staff and the auditor? Being prepared and having your ducks in a row before the auditor arrives (either onsite or virtual) can make the whole process go a little smoother.
As a traditional trainer here at EPCOR and someone who has helped our audit team during their busy season, I find understanding the what and the why behind the audit criteria is essential. For the past few years, I have been conducting a training session called Navigating the ACH Audit, and each year I hear more and more members say they need more explanation and understanding before diving into their ACH Compliance Audit. I have taken your concerns to heart and decided to enhance the Navigating the ACH Audit class. This enhancement includes more explanation and a deeper dive into those painful topics including policies & procedures, stop payments and information included in the final report. Every year new rules are added but no one ever talks about how to audit the changes, so some other topics added to this learning event include Same Day ACH, the ACH Contact Registry and the Meaningful Modernization rules.
Whether conducting your own ACH Compliance Audit or having someone internal or external complete the audit, this session will help guide you and deepen your understanding of what to look at or what the auditor is looking for in the process. The ACH Compliance Audit is only as helpful as the person(s) reviewing the information.
In order to go over all those updates, the virtual Navigating the ACH Audit is split into 2 -2-hour sessions. Mark your calendars for August 4th and 5th from 9-11 CT. I hope to see you there!