"Leadership and diligence in management are the pillars that uphold the framework of trust and integrity within an organization."
|
Area of Compliance |
Responsibility Actions (For
Management) |
Responsibility Acknowledged |
Manager's Signature |
|
Initial
System Setup |
1. Assess current system's audit trail capabilities. 2. Determine the
need for system upgrade or new software acquisition. 3. Oversee the
implementation and integration of the chosen solution. |
☐ ☐ ☐ |
|
|
Staff
Training & Awareness |
1. Plan and conduct training sessions on secure and ethical handling
of financial data. 2. Ensure all relevant staff understand the importance of
an uneditable audit trail. 3. Keep records of training attendance and topics
covered. |
☐ ☐ ☐ |
|
|
Consolidated
Financial Statements |
1. Verify compliance of all entities in consolidated financial
statements. 2. Standardize software use across entities for uniform audit
trails. 3. Regularly audit compliance and document findings. |
☐ ☐ ☐ |
|
|
Modifications
& Tampering Handling |
1. Establish protocols for logging modifications and documenting
breaches. 2. Implement immediate corrective actions for any audit trail
tampering. 3. Regularly review the effectiveness of security measures. |
☐ ☐ ☐ |
|
|
Third-Party
Software Compliance |
1. Obtain and review third-party software compliance certifications.
2. Conduct regular compliance audits on third-party systems. 3. Maintain a
log of compliance status and any audit findings. |
☐ ☐ ☐ |
|
|
Audit
Trail Preservation |
1. Develop a comprehensive data retention policy. 2. Ensure secure
storage and backups for audit trails. 3. Periodically validate the
effectiveness of storage and backup solutions. |
☐ ☐ ☐ |
|
|
Reviewing
Special Transactions |
1. Mark complex, unusual, or judgment-heavy transactions for easy
review. 2. Conduct detailed transaction reviews, including documentation of
findings and actions taken. 3. Ensure a process for escalating and resolving
review issues. |
☐ ☐ ☐ |
|
|
Annual
Compliance Review |
1. Schedule and execute annual audit trail system reviews. 2. Document
review findings and implement necessary corrective actions. 3. Assess and
adjust the audit trail capture and reporting mechanisms as needed. |
☐ ☐ ☐ |
|
|
General
Data Integrity Practices |
1. Regularly update software to leverage new security and compliance
features. 2. Continue staff training on data integrity and security. 3.
Monitor and control access to sensitive data, limiting it to authorized
personnel. |
☐ ☐ ☐ |
This checklist is designed to systematically ensure that management
addresses each area of compliance with audit trails, assigns specific
responsibilities, and establishes a clear line of accountability.
