Spreadsheet controls 222
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We have classified our spreadsheets based on complexity and risk (low risk, moderate, high) and have indicated if they pertain to either a key control or not. Spreadsheets associated with high risk and all that involve a key control will be tested for design and operating effectiveness. Spreadsheets are equivalent to any other system so we’re ensuring we have adequate controls around those ‘key’ or high risk spreadsheets (i.e. password protection, version control etc.). The classification of spreadsheets (ie. developing an inventory of them) was a time consuming task but we felt it had to be done. We ignored any spreadsheets employees use for individual or sub-analyses.
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Richard,
There is a document from PWC on Spreadsheets and Sox Section 404.
Jonathan
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Richard,
There is a document from PWC on Spreadsheets and Sox Section 404.
Jonathan
To save you the hunt:
pwcglobal.com/extweb/service.nsf/8b9d788097dff3c9852565e00073c0ba/cd287e403c0aeb7185256f08007f8caa/USDFILE/PwCwpSpreadsheet404Sarbox.pdf
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Related to controls on spreadsheets, are the controls around meeting minutes from internal financial reviews. Can anyone tell me if SOX requires similar controls around these documents as for excel spreadsheets?
Thanks. :?
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Related to controls on spreadsheets, are the controls around meeting minutes from internal financial reviews. Can anyone tell me if SOX requires similar controls around these documents as for excel spreadsheets?
Thanks. :? I hope you are joking. I do not think that minutes will flow into FINANCIAL STATEMENT LINE ITEMS like spreadsheets do, what do you think?
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_at_zoost: Why? I could think of some committee minutes which could find entrance into the financial statements. Just think about decisions made by a reserving committee. The numbers they agree on will be reflected by the financial statements and therefor their minutes will be a SOX issue.
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_at_zoost: Why? I could think of some committee minutes which could find entrance into the financial statements. Just think about decisions made by a reserving committee. The numbers they agree on will be reflected by the financial statements and therefor their minutes will be a SOX issue.
At best this is a control i.e. a decision made by the reserving committee is authorisation/approval.
We don’t normally need to address controls over controls.
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_at_Denis: I didn’t want to mention to implement a control over a control. But it is subject of testing as I would consider this committee as a entity level control.
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As always the answer is 'it depends… ’
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You’ll name it men…