Audit Trail Applicability: Date, Turnover Limit, Penalty, Best Practices
The Ministry of Corporate Affairs (MCA) recently released a notice (Companies (Accounts) Amendment Rules, 2021) mandating that companies using accounting software must choose platforms equipped with a feature recording an audit trail for every transaction. The updated audit trail rule in accounting software has taken effect from last year. Originally scheduled for implementation in 2021, the effective audit […]