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The events that occurred completing a transaction put in a sequential manner is what is called an audit trail. For instance, procure to pay may involve raising a material indent (requisition) , sending out RFQ's, getting quotations, placing a purchase order, receiving the material , getting a material receipt done, approving the invoice and paying off to the supplier. The series of these events with all the documentary/ electronic evidences in place is what forms the audit trail for this transaction. Audit trail besides, helping in audit may also help in understanding and improving a business process.
“Audit Trail” means Paper and electronically based evidence which provides an organization the entire operational journey of a transaction from order to completion. Also we can say it is a record which provides that ,who has accessed the system and what operations have been performed during a particular period of time.
An audit trail or Audit log is a security relevant chronological record, set of records, destination and source of records that provide documentary evidence of the sequence of the activities that have effected by any time a specific operation, procedure or event.
There are two types of audit files to the External AuditorThe first is the permanent View accompanied by all the official papers of the company as well as the minutes of the Board of Directors and associationsThe second is the constant View accompanied by financial statements and trial balances of accounts and reports of the Special Review
Agreed with mobeen .................
An audit trail is an evidence of an activity/transaction which help audit to identify the transaction/activity genuineness. It may be in the form o a document or audit log in a computer.
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a system that traces the detailed transactions relating to any item in an accounting record
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A series of paper, electronic files, and other such records that show how transactions are dealt with by an organization from beginning to end. An auditor examines the audit trail during the audit of a company
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