AccountingInland RevenueIR

Audit Trail – Definition

certAn audit trail is a paper or ‘electronic’ trail that gives a step by step documented history of a transaction. It enables an examiner to trace the financial data from general ledger to the source document (invoice, receipt, voucher, etc.). The presence of a reliable and easy to follow audit trail is an indicator of good internal controls instituted by a firm, and greatly assists in the case of an IR audit.

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