Audit Trail
An audit trail is like a reliable tracker that records every move your money makes. Without it, trying to figure out where your money went would be like chasing a runaway dog in a crowded park—hectic and hopeless! An audit trail shows every step in your financial journey, so no one can sneak around or hide any suspicious activity. It’s like having a super-organized map that shows exactly who did what and when, making it easy to keep track of all transactions. This way, if anything seems off, you can quickly pinpoint where it happened and fix it before it turns into a bigger problem.
In short, the audit trail keeps everything transparent and honest. Without it, a company’s financial records could turn into a jumbled mess, leaving plenty of room for errors or even fraud. It acts like a guard that ensures no one can tamper with your records, keeping every transaction clear and easy to understand. Whether you’re spotting fraud or just making sure everything is in order, the audit trail is the unsung hero that keeps your financial data safe, organized, and trustworthy.
By CA L.Muralidharan and CPA L.Mukundan
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