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Resolves the validity of an accounting entry by a step-by-step record by which accounting data can be traced to their source.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A record of the transactions in a trade from the beginning to the end. The SEC and the NYSE use the audit trail when investigating irregularities and potential trading violations.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A record of business transactions that can be used by an interested party to trace an organization's activities to original documents. Audit trails are used to verify account balances.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
audit traila trail of primary documents such as INVOICES, and LEDGER entries, for example sales ledger records, which are used to identify how ACCOUNTING records have been kept. By selecting a sample of primary documents and ledger entries an AUDITOR can check the completeness and accuracy of a firm's accounting system.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson