eCOGRA follows a risk-based approach as far as possible, and the methodology for testing incorporates a combination of:
- Substantive testing, where verification is obtained through assessment of relevant source evidence or visual website representation. Substantive testing employs predominantly point-in-time time testing; and
- Internal control evaluation, which incorporates an identification of the financial objective, the risks surrounding that objective, and the organisational response to that risk in the form of an internal control. The control is then assessed through selecting a random sample of transactions and conducting walk-through testing to verify that the result of the transaction is in accordance with the anticipated outcome. The effectiveness of the control is further assessed through analysing the communication thereof to relevant employees.