audit trail

Resolves the validity of an accounting entry by a step-by-step record by which accounting data can be traced to their source. Bloomberg Financial Dictionary
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The range of documents, and other evidence including tape recordings, which records all business activities and transactions which the firm effects. Such a historic record allows the firm to piece together the chronology of a trade. It is also required for compliance purposes. Dresdner Kleinwort Wasserstein financial glossary

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audit trail ˈaudit trail noun [countable]
1. ACCOUNTING a series of documents that shows the financial activities of a company, and shows whether their financial records are correct:

• The audit trail showed that the company had actually been losing money for some time.

2. COMPUTING a series of records of someone's activities when using a computer system or when using the Internet:

• Our computer system has an audit trail which records every request made of it as a standard security procedure.

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audit trail UK US noun [C]
ACCOUNTING documents and records that show the history of a company's financial activities, examined by someone who is doing an audit (= checking a company's accounts): »

The audit trail must be supported by sufficient documentation to follow a transaction from beginning to end.

»

You should maintain an adequate audit trail of all transactions.

IT a record of the activity on a computer or computer system: »

It's important to keep an audit trail to see who has changed a document and when.

»

The database provides a full audit trail of activity.


Financial and business terms. 2012.

Look at other dictionaries:

  • audit trail — audit ,trail noun count information that is recorded, for example on paper or in a computer, and that proves that events happened in a particular way …   Usage of the words and phrases in modern English

  • Audit trail — An audit trail or audit log is a chronological sequence of audit records, each of which contains evidence directly pertaining to and resulting from the execution of a business process or system function. Audit records typically result from… …   Wikipedia

  • audit trail — noun : a record of a sequence of events (as actions performed by a computer) from which a history of those events may be reconstructed * * * 1. Accounting. the process or an instance of cross referring each bookkeeping entry to its source in… …   Useful english dictionary

  • audit trail — UK / US noun [countable] Word forms audit trail : singular audit trail plural audit trails business information that is recorded, for example on paper or in a computer, and that proves that events happened in a particular way …   English dictionary

  • audit trail — An information flow that allows an auditor to trace the evolution of a transaction. The chronological evolution of a transaction originates in its underlying activity (e.g., an inventory movement, or a sale to a customer), and a satisfactory… …   Auditor's dictionary

  • audit trail — Gen Mgt the records of all the sequential stages of a transaction. An audit trail may trace the process of a purchase, a sale, a customer complaint, or the supply of goods. Tracing what happened at each stage through the records can be a useful… …   The ultimate business dictionary

  • Audit Trail — A step by step record by which accounting data can be traced to their source. The SEC and NYSE will use this method for the explicit reconstruction of trades when there are questions as to the validity or accuracy of an accounting figure. This is …   Investment dictionary

  • Audit trail —   An ISO term. See preferred term Security audit trail …   International financial encyclopaedia

  • audit trail —    An automatic feature of certain programs or operating systems that creates a running record of all transactions.    An audit trail allows you to track a piece of data from the moment it enters the system to the moment it leaves and to… …   Dictionary of networking

  • audit trail — audito seka statusas Aprobuotas sritis auditas apibrėžtis Informacijos ir duomenų apie institucijų, atsakingų už Europos Sąjungos struktūrinių fondų lėšų, skirtų Lietuvos 2004–2006 metų bendrojo programavimo dokumento priemonėms įgyvendinti,… …   Lithuanian dictionary (lietuvių žodynas)

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