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The article covers the Audit Trail requirements in accounting software as mandated by the companies act, 2013. It covers how the auditor can check the compliance of the Audit Trail requirements when the client is using the most used accounting software Tally. The Article covers the comparison of different Tally versions, user access for Audit trail compliance, Frequently Asked Questions from Auditor’s perspective and action points by Auditors for the purpose of reporting. Let’s dive-in.
INTRODUCTION
In today’s digital landscape, maintaining the integrity and transparency of financial data is more crucial than ever. With increasing regulatory scrutiny, Companies must ensure compliance with audit trail requirements as mandated under the Companies Act, 2013. TallyPrime, a leading accounting software, offers a robust feature (called Edit Log) that facilitates the implementation of audit trails, enabling organisations to track changes and maintain comprehensive records of all transactions. This capability not only enhances accountability but also supports businesses in meeting their compliance obligations effectively.
As companies navigate the complexities of financial reporting and regulatory requirements, it is imperative for companies, as well as auditors, to understand how to l
