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Electronic Records Retention: Getting It Right

Dumas Dennis | October 19, 2004

The computer's common use as an essential business tool, and the tremendous and exponentially increasing storage capacity of computer generated or recorded information has transformed the landscape of information retention and destruction. Now record retention regulations are becoming increasingly important to follow, and follow correctly and consistently.

Certain regulations in particular illustrate this need, including extensive OSHA requirements,
as well as new Sarbanes-Oxley rules that prohibit the destruction or alteration of records. SOX also requires auditors of securities issuers to maintain all audit or review workpapers for five years from the fiscal year end covered by the audit, with fines and jail time up to 10 years (see box at right for "Regulatory Overview").

The Act also escalates the penalties for existing violations...

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