Subscribe for NewsLetters
Email: *
 
First Name: *
 
Last Name:
 
Organization:
 
Position:
 
Country:
Enter Captcha:*
captcha
Search_btn
Ad (728x90) Orange No.Thumb Headline2
Idea Audit Net Dec2020
An19067 468x60
Auditnet 728x90 Arbutus Banner 1[1]
ACH Electronic Payments Audit Program - Banking

Name

ACH Electronic Payments Audit Program - Banking

Description

Objective 1: Determine the quality of risk management in support for ACH processing activities.
1.     Review policies and procedures in place to monitor originating customer balances for credit payments (e.g., payroll) to ensure payments are made against collected funds or established credit limits. Also determine that payments in excess of established credit limits are properly authorized.

2.     Determine if the institution treats deposits resulting from ACH transmitted debits on other accounts as uncollected funds until there is reasonable assurance the debits have been paid by the institution on which they were drawn. Also, determine if management monitors drawings against uncollected funds to ensure they are within established guidelines.

3. Determine if management monitors originating customers for unreasonable numbers of unauthorized ACH debits. If high, this could expose the institution to greater loss.

Login to download the template with all the objectives and audit procedures.

Standard (Non-IT) Audit Program

You need to login to add your comment

0 Comments

Download

This file is only available to premium subscribers or site license users. Please log in or sign up for a subscription to get this file.

Subscription Level

Premium

Language

English