Accounting software of companies must provide audit trail

Last updated: 31 March 2021

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This document, the Companies (Accounts) Amendment Rules, 2021, mandates that all accounting software used by companies must have a feature to record an audit trail for every transaction. This includes tracking changes, the date of changes, and ensuring the audit trail cannot be disabled. These new rules come into effect from 1st April 2021. It also includes details regarding pending insolvency proceedings and loan valuation differences. This is essential for companies and accounting professionals to ensure compliance.

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PDF 700 KB 1 downloads Corporate Law

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Accounting software of all companies must mandatorily provide for audit trail for financial year commencing on or after 1st April 2021. It should have feature to record audit trail of each transaction, creating the edit log of changes made & ensuring that the audit trail cannot be disabled. #pdf

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Submitted by P C Agrawal · Posted 31 March 2021 · Other files by P C Agrawal · Report

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