ABC’s of Completing the Annual ACH Rules Compliance Audit

Description:

The Nacha Operating Rules and Guidelines require that all participating depository financial institutions (ODFI & RDFI), Third Party Senders (TPS), and Third-Party Service Providers (TPSP) that provide ACH services to the RDFI or ODFI, conduct an annual ACH audit by December 31 of each year (Nacha Operating Rules, Article 1).

There are changes each year in the Nacha Operating Rules that affect your annual ACH Rules Compliance Audit, including 2024. These Rule changes will be included as they affect the audit.

This session will cover “step-by-step” the audit process and requirements for each participant conducting an annual ACH audit, to help ensure their compliance with the Nacha Operating Rules.

Areas Covered

• Identify the participants in the ACH network required to conduct an annual ACH Rules compliance Audit
• Define the General Audit Requirements
• Discussion on tools available in the Nacha Operating Guidelines for guidance when conducting the annual ACH Rules Compliance Audit, including the TPS audit.
• Review the flexibility for each participant when following the Guidelines, which include the ODFI, RDFI, TPSP, and TPS within the Rules Book
• Describe “how-to” to ensure Rules Compliance after determination of what ACH activities are being audited
• Recommended areas to check (audit) in addition during the ACH Audit

Who Should Attend

• ACH Operations staff
• Compliance Officers
• Treasury professionals
• Third-Party Payment Processors
• Third-Party Senders
• ACH Managers
• Electronic Payments Professionals
• ACH auditors (internal and external)

Why Should You Attend

The annual ACH Rules Compliance Audit requires a precise examination of all ACH processes that a participant is involved in, then completing the “compliance test” of those processes to ensure compliance with the Nacha Operating Rules.

Knowing what to check for and understanding what report to look at (incoming ACH file or outgoing ACH file) is crucial for ensuring you are ensuring compliance with the Nacha Operating Rules. The trainer will walk you through “step-by-step” with tips on how to successfully “test” and what to look for when checking the ACH processes and rules compliance.

This session will identify who needs to conduct an annual ACH Audit. In addition, outline the process for each participant that is required to conduct the annual Rules compliance Audit, plus offer tips and guidance for creating your own personalized ACH Audit (based on the ACH activities you utilize).