ORDER CONFIRMED
Thank you
You now have the FedNow® Correspondent Audit, 2026 Edition. Everything you need to run a defensible internal audit of your Correspondent settlement program is in your account.
Getting started
STEP 1
Find your files
Your files are in your Payments Professor library. Sign in and open FedNow® Correspondent Audit, 2026 Edition. You also received a confirmation email with an access link.
Download all four files before you begin. You will want the workbook and the guide open side by side during fieldwork.
STEP 2
List every Respondent first
Record every Respondent and every routing number it settles through your account on the Institution Info tab. That list is the population for Sections 4, 5 and 7.
Then answer one question: does your institution hold its own FedNow Participant Profile? That single field scopes four conditional sections and decides whether Net Send Limits are available to you at all.
STEP 3
Expect a dense program
38 of the 70 items are rated High risk, 54 percent, the highest concentration of any edition. There is little here that can be rotated.
Most Correspondent obligations attach directly to money, which is why Sections 3, 4 and 6 carry the weight.
Working with the files
Two things worth knowing before you open anything, so nothing surprises you.
The workbook will not ask you for a password
The Excel workbook is protected, but you do not need a password to use it. Everything you are meant to complete is already unlocked.
Blue cells are yours. Result, Auditor Comments and Evidence, Status, Follow-Up, Finding, Exception Severity and the Finding Narrative are all fully editable, along with every field on the Institution Info tab.
You can also adjust column widths and row heights, change formatting, insert rows, sort and filter, and select and copy any cell so you can lift content into your own workpapers.
What is locked is the Payments Professor reference content: the requirement text, the citations, the risk levels and the audit procedures. That keeps the methodology intact and the citations trustworthy.
What is in the download
Audit Workpapers (Excel)
70 audit items across 11 sections, 38 rated High risk. Four sections are conditional and carry a status indicator at the top of the tab.
User Guide (PDF)
Item-by-item commentary on all 70 items. Opens normally with no password. Printing is enabled; copying and editing are not.
Sample Audit Report (PDF)
A finished specimen report showing what good looks like.
Audit Report Template (Word)
The same report as an editable file, so you can complete it for your own institution.
If your IT department filters downloads, allow www.paymentsprofessor.com.
AUDIT CUSTOMER RATE | 50% OFF
Train the people who run the controls you are about to test
Some of what an audit turns up is not a system problem. It is a knowledge problem: treasury staff who have never seen the aggregate Net Send Limit figure, relationship managers who do not know the Correspondent carries the credit risk, operations unaware that settlement continues at weekends.
The FedNow® Certificate Series is eight one-hour classes covering the service end to end, with quizzes and a certificate of completion. Standard price $499. As an audit customer, $249.50.
Add the Certificate Series — $249.50 (50% Off)Questions as you work through it?
Write to kevin@paymentsprofessor.com. If something in the program is unclear, or you hit a requirement your institution handles in a way the audit procedure does not anticipate, say so. That feedback shapes the next edition.
If your institution also sends or receives its own FedNow payments, you will need the matching participant edition alongside this one. Each covers a different role.
Email the Professor