“A Clear and understandable audit trail is needed for business users, management, auditors and government agents such as tax collectors. Audit trails offer accountability, reduce fraud, show what actions were taken by people and the system, and provide the ability to reconstruct events or transactions” (Vallabhaneni, S. R. 2014). The world that Byagi has created does exactly this. We have created a digital business solution that has a clear and understandable audit trail. Every user that goes MAD (MODIFY ADDS DELETES) will be tracked with each line item producing an understandable history of each transaction.
Byagi’s digital work flow is, MAD, it comes down to how business is handled in the system. We are MODIFYING the collection process, ADDING a layer of security never seen before in the industry and DELETING an archaic way of doing business with paper. By doing this we have created a clear and understandable audit trail for anyone needing financial information on a production.
Each user is held accountable for what they put into the system. Every line item entered is time stamped with a date and the users name. The approval system reinforces the changes made with the approving user, date and time stamp for each line item. The business rules have been set for the most up to date GAAP and IRS standards.
When there is total accountability we believe that stakeholders will be confident when making decisions. This system replaces the paper world of transporting documents by plane, truck, car, facsimile, email, etc. There is no more turning documents and information into accounting. “Turning in” is now “uploading” and “submitting” for approval. Everyone who needs to take action will have it on their “To Do List”. It is that simple.
We are the center of the universe for your projects financial processing, document storage and reporting needs.
References: Vallabhaneni, S. R. (2014). Wiley CIAexcel Exam Review 2014: Part 2. Hoboken: Wiley.