🗄️ Retention of Records Procedure
A retention of records procedure is a plan for retaining corporate records in compliance with the law. The procedure includes identifying which records must be retained, how long they must be kept, and where they will be stored. The procedure may also include destruction or Archiving of records that are no longer needed.
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Establish a procedure for the retention of records
There are several reasons to establish a records retention procedure. It helps ensure records are kept for the appropriate amount of time, prevents accidental destruction, and makes sure records are available when needed.
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