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Audit Trails must be available, convertible into a generally readable form and regularly reviewed. If one first looks at the information provided by the legal basis of EU-GMP Annex 11 Section 9 Audit Trails, there are no concrete instructions as to when an Audit Trail is to be reviewed.

The purpose of an audit trail is to reduce errors, fraudulent activities, and unauthorized system access, improve internal controls, and verify the accuracy of underlying accounting transactions flowing to financial statements.

Among other things, audit documentation includes records of the planning and performance of the work, the procedures performed, evidence obtained, and conclusions reached by the auditor. Audit documentation also may be referred to as work papers or working papers .

Audit trails are used to verify and track many types of transactions, including accounting transactions and trades in brokerage accounts. An audit trail is most often utilized when the accuracy of an item needs to be verified, as it might be in the case of an audit.

Auditability is defined as the ability of an auditor to get accurate results when they exam a company's financial reports. A successful audit depends on the auditor's skills and the company's well-kept records, transparency of its operational reporting, and if managers provide substantial paperwork to the auditor.

The most critical content in an Audit Report. It includes the report's title, addressee details, opening paragraph, scope paragraph, opinion paragraph, signature, place of the signature, and date of the report.

Auditing evidence is the information collected for review of a company's financial transactions, internal control practices, and other items necessary for the certification of financial statements by an auditor or certified public accountant (CPA).