Explain how does audit trail work.

Audit trails must have a few key details to provide comprehensive information about a transaction. To get these details at an enterprise level, however, a certain audit trail framework must be set up. Every access made to the accounts and records of the company should be tracked. Every edit made to any information must be recorded with the name of the person who did it and the time it was done. If any information was deleted, that also should be recorded. Following are the key financial details to track as part of the audit trail: Any changes involved in the transaction The person who partook in the transaction The time at which the transaction took place The time at which the modification or edit took place Example of audit trail Accounting software provides the ideal example for audit trails. Once you enter a transaction in the software, the software will maintain a record of it. Any further edits made to the details, such as a change in the amount or change in the name against which the entry is made, will also be tracked by the software along with the user who made the changes and the time it was changed. Even if some transactions were to be deleted, the software will track that as well and keep the record of everything since the original entry was made. This means that every transaction can be checked from its entry to its deletion. Basically, Audit trail based on Triple 'W' Approach i.e. When, Who What! => when changes were made i.e., Date and Time (Time Stamp) => who made those changes i.e., User ID => what data was changed i.e., transaction reference; success/failure.