- 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————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
* * *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.
* * *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.