Boule by Shutterstovk, audit trail

Audit Trail

Well-managed audit trails are key indicators of good internal business controls and form the basis of objectivity. Audit trails have long been done on paper or electronically. Step by step the digitalization of old generation computer systems has moved to auditors and organizations preferring electronic logs and trail systems. These electronic logs automate and make the documented history of a transaction more accurate, accessible and usable. Successful audit trails demand a simple process with a commitment by upper management and affected departments. 

The quicker an abnormal change or addition to information is “red-flagged,” the better the response to mitigate against negative influences such as fraud,  cyber-threats, security breaches, data corruption, or misuse of information.

An accounting trail makes it for internal controls easier to check the accuracy of financial data. By implementing a business process and using the correct tools you can target fraud, data incompleteness, and missing information; problems that breed inaccurate financial reporting. By giving corporate auditors source documents for analysis and review, the data trail improves chances that auditors will detect instances of inappropriate record-keeping behaviors, unlawful business practices and mathematical inaccuracies in period-end accounting records.

This is part of the banking solution, click here to learn more about Analyste Banking.

See what Bonava has to say about Analyste Audit Trail

analyste_bonava_englanti

Latest blog posts

Does Cash Forecasting really matter?
Cash forecasting continues to be the one area that many senior treasury and finance professionals struggle to do well. Some would go as far as to...
Read More
Improving cash forecasting by tracking actuals
Reliable cash forecasting requires continuous and evolving development of the forecasting process. One key ingredient to this vital process is...
Read More
Top tips for selecting a cash forecasting application
Buying software can be like starting a new relationship. You may have been disappointed in the past and eager to make sure it works this time round....
Read More