Hello Richi
Let me explain central theme of the answer, it says management is not willing to print accounting records as they are bulky and involve extensive cost. So instead of printing they are going to rely on software based controls specially exception reporting or which can be also called query based report. This is type of control where system generates many reports regarding unusual things in system for example report on fixed assets with zero depreciation , investments with no income , stock unsold for more than 12 months, debtor with balance more than 10 lakes but no transaction and many more like this. Management feels such reports will identify all misstatements hence print outs are not required.
as there are no printouts audit trail is missing and we have to rely on exception reporting. So we will have to ensure edp system is reliable all transactions are recorded , nothing is left out / once recorded people cannot modify without permission / programme logic for report generation is proper / final results are complete and accurate / staff cannot manipulate it etc
if we are satisfied with systems we will rely on them or else ask for print out and rely on alternative evidence given in last para.
above explanation will help in understanding answer , write key points next to answer and make small 10-15 words summary in logical sequence for revision purpose 

Thanks a ton sir. Really helpful explanation.