A system and method are provided to examine a changeable monitored document and to provide alerts relating to changes of interest. The logical entities of a monitored document are compared, when changed, to the logical entities of an updatable reference of the monitored document which comprises material from the monitored document at a given time. The system distinguishes between logical entities which have moved within a document and logical entities which have been changed in a document. A user or users are alerted to any change in the monitored document according to the user's preferences. The system also allows the user to specify one or more search terms, thereby allowing a user to receive alerts only when a specified search term or terms appear in a newly changed portion of the monitored document. After examination, an extracted copy of the monitored document is retained as the editable reference.