EPCOR Advisory Services Team’s COVID-19 Update

Amy Donaghue

By: Nicole Payne, AAP, CPA, CRCM, CIA, Vice President, Advisory Services


Our Advisory Services team has adapted in a variety of ways so we can continue to deliver our audit, risk and consulting services to you during this time of incredible uncertainty.

Audit and Risk Assessment Services
For now, all of our audit and risk assessment services will be conducted remotely. And, we continue to evaluate whether services schedule in subsequent months will also be conducted remotely. Our remote audit and risk assessment services are identical in content and substance as traditional on-site audits. We utilize a secure file exchange program to review documentation needed to conduct the service. Access to this system can be granted to multiple people within your organization, regardless of whether they are working in the office or from their own homes, so long as they have access to the internet. While you are continuing to serve your clients/members and their changing financial needs during this crisis, our payments experts can be conducting your audit and/or risk assessment for you. The process is so simple, it will be like it magically happens for you! Once the audit review is complete, your auditor will share the results with you via a conference call exit meeting and deliver your audit or risk assessment report.

Although so many things in this world are changing on a daily basis, the requirement to follow the ACH Rules remains the same. During this time of upheaval, our thorough reviews can help you determine whether you have remained compliant during the chaos or if you have some opportunities for process enhancement to ensure compliance with the ACH Rules. At some point (hopefully sooner rather than later), we will be able to return to our offices and get back to our daily routines. We would like to help you ensure that when that day comes you will be able to focus on getting back to normal instead of completing your annual audit or risk assessment.

Advisory and Consulting Services
Additionally, for now, our consulting engagements are also being conducted remotely. These services utilize the same tools as the audit and risk assessment services in regard to secure document exchange. For services that require visual observation of processes, we will be utilizing virtual tools to make the remote delivery as seamless as if it was conducted in person. Similar to the audit and risk assessment process, results of the consulting service will be delivered via a conference call exit meeting and final reports will be delivered as appropriate.

With a future so full of ambiguity, there is significant value in making sure you have policies, processes and procedures to minimize your risks and maximize your efficiencies as much as possible. It may also lead to serendipitous opportunities to expand service offerings, like ACH Origination, or shake up your payment strategies to fresher and faster payments options. Whatever may be the case, we are here for the sole purpose of serving you with any of your unique payment challenges (COVID-19 induced or otherwise).

As you can see from both the Education Team’s and Advisory Services Team’s responses to the current coronavirus pandemic, we remain focused on you, our members, and helping you navigate through these demanding times. Don’t hesitate to reach out us at 800.500.0100 or memserve@epcor.org, audit@epcor.org or advisoryservices@epcor.org.

Stay safe, stay healthy, stay home.
- Your EPCOR Advisory Services Team