In Brief: 19 Things about Compliant Invoice E-archiving

Christiaan Van Der Valk
February 19, 2019

Most enterprises already have one or several solutions for storing electronic data and documents. However, those systems might not meet compliance requirements for storing original electronic invoices and similar legally critical documents.

Here is a brief guide to some of the prominent international requirements for acquiring a compliant e-archiving system. 

Compliance maintenance

Regulatory monitoring and change-management are critical for adjustments as mandates shift.

Compliance documentation

Well-maintained documentation of archive systems and processes is key for surviving audits.

Strong logical separation of business departments

The system should be able to restrict auditor access to just one specific business operation.

Audit search criteria

Auditors need to be able to search on both key mandatory fields and country-specific criteria.

Tight security

As with any system, security prevents loss, destruction, corruption, or change of stored data.

Long-term archive preservation in Italy and Hungary

Both countries have strict mandates regarding treatment and storage of invoices.

Off-boarding functionality

Getting rid of an archiving service shouldn’t involve leaving sensitive information exposed.

Integrity and authenticity evidence features

Auditors should be able to confirm the validity of an invoice by using a signature validation tool.

Storage period

The system must retain invoices for the required period of time while also upholding privacy law.

Audit access rights

A business unit must be able to create and remove exclusive auditor access rights to its archive.

Storage location

The system must comply with laws for physical storage location of invoices in some countries.

Printability

The archive must enable a business to provide printed invoices to auditors upon request.

Conversion to mandatory audit formats from archive

The archive must accommodate requirements for presenting an invoice in a specified format.

Viewer for different structured formats

Auditors need to be able to view XML invoices in a format that is readable to humans.

Italian archive delegation documentation

The archive service should include template documentation to comply with Italian law.

Privacy

Businesses need a chief privacy officer to protect the rights of data owners.

Tax audit-oriented interface

The archive service should include a GUI tailored for use by a tax auditor.

Attachment upload per invoice

Business attachments such as contracts should be logically associated with archived invoices.

Outside undue law enforcement access

Archives should be accessible by intelligence agencies only as the result of due process.

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Author

Christiaan Van Der Valk

Christiaan Van Der Valk is vice president, strategy. Elected a World Economic Forum Global Leader for Tomorrow in 2000, Christiaan is an internationally recognized voice on e-business strategy, law, policy, best practice and commercial issues. Formerly co-founder and president of Trustweaver (acquired by Sovos), Christiaan also holds long-standing leadership roles at the International Chamber of Commerce (ICC) and the European E-invoicing Service Providers Association (EESPA). Over the past 20 years, he has presented at and authored key papers for international meetings at the Organisation for Economic Cooperation and Development (OECD), the Asia Europe Meeting, World Trade Organization and several other UN agencies. Christiaan earned his Master of Laws degree from Erasmus Universiteit Rotterdam.
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