Indore (Madhya Pradesh): The proposal of adding the 'audit trail' feature in accounting software of the companies, which had to be applicable from New Financial Year 2022-23, has been deferred for one year.
The Ministry of Corporate Affairs has issued a notification of this regard on Thursday. CA Manish Dafaria informed that according to the notification, now the proposal would be applicable from April 1, 2023 which was to be made applicable from April 1, 2022.
CA Manish Dafaria | FP Photo
Notably, the government had made it mandatory for every company to keep audit trail features in the accounting software of their books. If any company’s accounting entry is changed, then the information about that change will be present in new features of the software ‘audit trail’.
The Companies had to make arrangements for the same. The audit trail was not closed from the accounting software and it would be made available on demand.
