Which of the following could be included in an audit trail?

Study for the CIPS Contract Administration (L3M3) Test. Master key concepts with our structured flashcards and multiple-choice questions. Each question includes hints and explanations. Get ready to excel in your exam!

An audit trail serves as a comprehensive record that tracks the series of activities and decisions made during the lifecycle of a contract. It includes documentation that allows for verification and accountability, ensuring transparency throughout the contract process.

Including a record of meetings and decisions made throughout the contract lifecycle provides a clear narrative of how decisions were reached, what discussions took place, and who was involved at various points. This detailed documentation is essential for monitoring compliance with contract terms, evaluating performance, and serving as a reference in case of disputes or audits.

On the other hand, while financial transactions can be an important aspect of contract management, they do not encompass the broader range of activities and decisions integral to the contract lifecycle. Feedback from clients is valuable but typically occurs after the contract is completed and may not provide the same level of detail or immediacy required for an effective audit trail. Predictions of future contract performance, while useful for planning, do not reflect actions taken or decisions made during the contract's active phase and thus would not be relevant for historical accountability.

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