Audit Documentation Retention and Destruction Policy
CALIFORNIA CODE OF REGULATIONS
TITLE 16. Professional and Vocational Regulations
DIVISION 1. Board of Accountancy Regulations
ARTICLE 9 - Rules of Professional Conduct
§ 68.5. Audit Documentation Retention and Destruction Policy.
(a) Licensees shall maintain, and document compliance with, a written Audit Documentation Retention and Destruction Policy which provides for the preservation of audit documentation for the full time period required by Business and Professions Code Section 5097. The policy and documentation of compliance shall be available to the Board upon request.
(b) This policy shall provide for the authorized custody, security, access, retention, and destruction of the documentation. This policy shall, at a minimum, include the following:
(1) procedures for the maintenance of back-up copies of electronic audit documentation at secure locations,
(2) procedures for maintaining audit documentation,
(3) procedures for approving any changes to audit documentation,
(4) procedures for approving the destruction of documentation when no longer required to be maintained by Business and Professions Code Section 5097.
(c) The procedure required by subsection (b)(4) shall provide for identifying the persons, by name or position, authorized to approve the destruction of audit documentation. In the alternative, the procedure required by subsection (b)(4) may be self-executing once the retention period has expired.
NOTE: Authority cited: Section 5010, 5018 and 5098, Business and Professions Code. Reference: Sections 5097 and 5098, Business and Professions Code.
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