Records Retention - What Should You Keep and For How Long?

We have had a number of client inquiries recently regarding how long to keep financial documents. The answer is that it depends on the type of documents you are planning to purge. Record retention policies should be determined based on the functional area within the organization, such as:

• Accounting records

• Bank records

• Corporate records

• Employee records

• Real property records

Retention periods vary, depending upon the functional area, regulatory agencies, and the countries and jurisdictions where the data is stored. There are no definitive answers to how long each type of record must be kept, but some questions