Recent Examples of audit trail from the Web
Delaware, Georgia, Louisiana, New Jersey and South Carolina all rely exclusively on electronic voting machines without a paper audit trail.
Rather, the transaction on the blockchain would eliminate high costs, provide a system for accurately logging the transactions, and process payments in real time with a verifiably true audit trail.
The new software produces an audit trail that documents any changes made to the accounts.
Michael Daly, CTO of Cybersecurity and Special Missions at Raytheon The committee is recommending that states make sure voting machines have paper audit trails and aren’t capable of being connected to the internet.
The auditors did note that there were no formal policies authorizing the fundraisers, or audit trails regarding the money.
The development of the audit trail has often been caught in red tape and industry fights over who will pay for it.
The audit trail was also designed to ingest details about stockbrokers’ customers, including their names, dates of birth and Social Security numbers.
But four other states besides Delaware — Louisiana, Georgia, New Jersey and South Carolina — use paperless systems that leave no audit trail, as do large swaths of Pennsylvania and some other states.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'audit trail.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of AUDIT TRAIL
What It Is
An audit trail refers to the complete record of events that occurred in the execution of a transaction.
How It Works
When a transaction is executed (e.g. a business purchase), each documented step taken makes up the audit trail. Depending on the transaction, the audit trail can be highly complex or very simple.
For instance, the audit trail for the purchase of a carton of milk would consist only of the receipt for the transaction. This receipt details the exchange of cash for the item purchased (milk), the date, and the institution where it occurred (the store).
Why It Matters
The records comprised in an audit trail can be reviewed with diligence in the event that accounting figures fail to reconcile. Recreating a transaction step-by-step will reveal where a breakdown in the process occurred (if any).
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