6. Electronic - Approvals Retention 1962

Electronic - Approvals Retention 1962

  • A

    Hi All,
    Our company, which is a private company, uses spreadsheets heavily. They are used for Accounts Recons and for Journal Entries. As we intend to stay paperless ( as much as we can), the review and approvers sign the recons and JEs on the Properties of Excel.
    We do not have any SOX requirements right now. But we do have SAS 70.
    Now, the question is as the approvals on ‘Properties’ tab of excel can be manipulated, we need a better way to document approvals. I know Adobe is one of the options.
    Any other suggestions as to how it can be done electronically -
    All responses would be highly appreciated.
    Thanks,

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  • H

    Hi - I’d recommend evaluating the following:

    • Set up secure directories on servers for test and production versions, using change control to promote approved copies (including formal publication of standards and work flows).
    • Versioning control and change management software on servers to publish from preliminary (test) copies to final versions (production).
    • Use PDF outputs for read only published versions (as it is less subject to being tampered with, even though Excel has some limited security controls, e.g., passwords, cell protection, etc.)
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  • A

    Thanks Harry. Appreciate your inputs.

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