Cos must have audit trail of transactions from next FY

Will also have to maintain edit log of changes made in books of accounts; experts say no firm will be able to delete an entry, will only be able rectify it

Ruchika Chitravanshi | New Delhi
Last Updated at March 15, 2023 20:02 IST

In a move designed to improve transparency in financial reporting and prevent tampering of accounting entries, the Ministry of Corporate Affairs has made it mandatory for companies to ensure that their accounting software records the audit trail of transactions, April 1, 2023 onwards. The notification, which was first issued two years ago, would come into effect in two week’s time after getting pushed forward twice.

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