A transaction trail includes the documents and records that allow an auditor to trace a transaction from its origination through to its final disposition,or vice versa.

Question

Quizplus · Accepted Answer

This statement is true. A transaction trail is a critical tool in auditing as it allows the auditor to track and verify the complete cycle of a transaction. It includes all relevant documents and records, such as purchase orders, invoices, receipts, and bank statements, that provide evidence of the transaction's occurrence and are used to determine its accuracy and completeness.

A Transaction Trail Includes the Documents and Records That Allow