Audit Trail

Introduction

Although systems give audit trails of transactions, not many give full traceability of changes made within the system. This can lead to users changing information in the incorrect accounts, leading to an increased risk of fraud and breach of data protection.

Typical Problems

Lack of change traceability can result in miscalculations and serious errors.

Lack of system security around changes in records, fields, reports, and permissions could lead to potential security risks and system exploits.

Lack of record of original documents against created transactions, e.g., invoices from customers or suppliers.

Solutions

Cloud accounting solutions can give finance teams clear audit trails, tracking all changes within the system including user control permissions for an additional level of security.

Approval flows can be easily set up to ensure specific changes can follow a chain of command and approval process.

Traceability of the original transactions and an audit trail when documents were created, uploaded, or removed.

Benefits/ROI

Full traceability and accountability of all changes and actions made on the system reducing the risk of potential data breaches and fraud.

Full visibility of document uploads and a complete audit trail of the documents and accounts, meaning key information can be tracked on all accounts with ease.