Spreadsheet controls 222
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Hi all
Our SOX consultants have come up with the following control question:
‘Is end-user computing, including spreadsheets and other user-developed programs, documented and regularly reviewed for processing integrity, including their ability to sort, summarise and report accurately?’
This implies that every spreadsheet we use needs to be fully documented and has a review process attached. It seems to me that this is the consultants defining SOX, becauase in reality this is just ludicrous. I work in Finance and I have about a hundred spreadsheets that I use on a monthly basis. How has everyone else dealt with the issue of user-defined spreadsheets?
Thanks
Richard
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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?