An audit trail is a detailed, chronological record of events, activities or changes within a system or process. It provides insight into who performed which actions, when these actions took place and which parts of the system or process were affected.
When are audit trails important?
Audit trails are often used for monitoring compliance, security and operational purposes. It helps organisations detect unauthorised access or anomalies in processes. It contributes to transparency and accountability within an organisation. Moreover, it assists in restoring systems after a failure by providing a clear overview of recent changes. A well-managed audit trail is essential for effective IT security and internal controls.
What about financial documents?
Documenting who made what changes and when ensures the integrity of financial data. Moreover, an audit trail helps detect errors or fraudulent activities. In audits, it can serve as evidence to demonstrate compliance with regulations. It also supports internal controls and the improvement of financial processes. By providing a clear overview of all financial operations, an audit trail contributes to reliable and accurate financial reporting.
Audit trails with TriFact365
TriFact365 records actions performed for each document. This information is available online and can also be linked as an addition to an entry in the accounting software. This way, it is always clear who, when uploaded, checked and possibly approved the documents. This makes audit trails easy to perform. Want to know how to link the audit trail to an entry? Then click here.