Record Retention

What is Record Retention?

Record retention is the practice of maintaining business documents and data for a specific period as required by law or company policy. These records must be stored securely and be easily retrievable for audits or legal proceedings.

Why It Matters

• It ensures that historical data is available to resolve disputes or verify past actions.

• It helps organizations comply with legal requirements for tax and financial reporting.

• It provides the necessary documentation for defending against legal claims.

• It supports business continuity by preserving institutional knowledge and history.