audit trail

(redirected from documentation trail)
Also found in: Dictionary, Medical, Encyclopedia.

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Audit Trail

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

audit trail

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 trail

a 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
References in periodicals archive ?
Even then, authors would need to agree to Sponsor-proposed changes and the report would need to be amended to create a documentation trail. Following this example, it is possible that the contributing scientist or the study director could make seemingly innocent comments about the study results that could inadvertently raise new or additional safety concerns.
Our CDS system offers much more functionality, but this limited explanation at least demonstrates how the system substantially enhances the documentation trail. In fact, in a 1999 Medicaid audit, before we implemented the EHR, missing documentation cost us $550,000 in penalties; in a 2004 audit, after the EHR and CDS system were implemented, we had no financial penalties for missing documentation.
In view of their personal liabilities for very severe penalties, (13) they are likely to view a well-documented process with a well-defined, thoroughly vetted, and well-maintained documentation trail as highly desirable.
Full browser ?