“Each Participating DFI, and any Third-Party Service Provider that provides ACH services to the Participating DFI, shall, in accordance with standard auditing procedures, conduct an internal or external audit of compliance with provisions of the ACH rules in accordance with the requirements of this Appendix Eight. These audit provisions do not prescribe a specific methodology to be used for the completion of an audit but identify key rule provisions that should be examined during the audit process. An annual audit shall be conducted under these Rule Compliance Audit Requirements no later than December 1 of each year. This audit shall be performed under the direction of the audit committee, audit manager, senior level officer, or independent (external) examiner or auditor of the Participating DFI or Third-Party Service Provider. The Participating DFI and its Third-Party Service Provider must retain proof that they have completed an audit of compliance in accordance with these rules. Documentation supporting the completion of an audit must be (1) retained for a period of six years from the date of the audit, and (2) provided to the National Association upon request. Failure of a Participating DFI to provide proof of completion of an audit according to procedures determined by the National Association may be considered a Class 2 rule violation pursuant to Appendix Eleven, subsection 11.3.7 (Fines and Penalties).”

To certify your Financial Institution online, click here to complete the Audit Certification Form.

 

For assistance or more information, please contact Valerie Nolte at 800-681-4224 ext. 304 or vnolte@eastpay.org.