Record Management

Summary

An organization's business records are among its most important and valuable assets. Business records include essentially everything written down, recorded or produced by an organization's employees, whether in the form of paper, computer data, microfilm, e-mail or voicemail. Business organizations are required by law to keep certain types of records for specified time periods. Failure to keep these records for the minimum periods could subject an organization to penalties, fines or sanctions or could disadvantage the organization in a court proceeding.

Accordingly, every organization should establish a record-management policy and procedures that specify (1) what records to retain and for how long, (2) what records to dispose of, and (3) how to dispose of various types of records. All employees, independent contractors and anyone working on behalf of the organization should be required to follow the policy.

Every organization has an obligation to preserve documents that relate to any legal proceeding or government investigation. An employee receiving notice of potential litigation or a government investigation or audit should report it immediately to the organization's legal department, which may then order that certain records be preserved until further notice. While a record is subject to such an order, employees should not alter it in any manner - even if the record is scheduled for disposal.

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Key Resources

For your convenience, ACC has compiled the following key resources to assist you in your compliance efforts.

For more try searching ACC's online library for "Record Management"

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