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Overview of ‘Auditing ‘

Posted on January 10th, 2013 by Sanjit Anand ||Email This Post Email This Post

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What is Auditing of data?

In simple terms it is defined as a procedure to examine a set of data carefully for accuracy with the intent of verification.

What is the need for auditing?

Any company is accountable for the data it stores. So any modification that is done to the data impacting the company financially or legally should be traceable to its source. The data may include sales/purchase orders ledger accounts, employee records etc.

Auditing in ERP.

  • ERP software of a company is used to do all the transactions of the company. It may also store account information of clients and other sensitive data.
  • Access to such data should be controlled.
  • Any illegitimate modification could cost a company heavily.
  • Company should be answerable for any change to this data.
  • Hence an audit component in the ERP is very much vital.

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