Automated Clearing House (ACH) Audits

NACHA - The Electronic Payments Association, requires any financial institution that participates in the ACH network to conduct an audit for compliance on an annual basis.  This requirement applies to both originating depository financial institutions (ODFIs) and receiving depository financial institutions (RDFIs).  The annual audit must be conducted no later than December 31st of each year.  Failure to provide proof of completion of an audit may be considered a NACHA rules violation, so it is imperative that credit unions conduct this audit every year. 

By conducting an ACH audit with PolicyWorks, your credit union will meet the NACHA requirement for an annual ACH review.

The ACH audit conducted by PolicyWorks is comprehensive, and will review the following areas:

  • Document Review
  • Record Retention
  • Reporting
  • Risk Assessment
  • Training
  • Transaction Processing