MCA had introduced changes in Schedule III to the Companies Act, 2013 vide its notification G.S.R. 207(E) dated 24th March, 2021 and also introduced changes in audit reporting vide the Companies (Audit and Auditors) Amendment Rules, 2021 G.S.R. 206(E) dated 24th March, 2021 and the Companies (Auditor’s Report) Order, 2020.
Audit trails are records (manual or electronic) that chronologically catalogue events to provide supporting documentation used to establish authentication and integrity of a transaction.