BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An audit trail allows an auditor to trace the financial data from the general ledger to the source document (invoice, receipt, voucher, etc.) and view the full process of a given transaction.

Detailed explanation-2: -An audit trail is a date and time-stamped, sequential record of the history and details around a financial transaction, work event, product development phase, or financial ledger entry.

Detailed explanation-3: -There are many definitions of an audit trail, and all of them give you an idea of what it is about: A system that traces the detailed transactions relating to any item in an accounting record. A record of the changes that have been made to a database or file.

Detailed explanation-4: -The objective of an audit of financial statements is to enable an auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with International Financial Reporting Standards or another identified financial reporting framework.

Detailed explanation-5: -The purpose of an audit trail is to reduce errors, fraudulent activities, and unauthorized system access, improve internal controls, and verify the accuracy of underlying accounting transactions flowing to financial statements.