Standards

Document Retention Principles

Retention should be deliberate. Keeping every file forever creates unnecessary risk; deleting records too early can undermine the engagement record and professional obligations.

Engagement terms control

Retention periods and deletion procedures should be defined by the engagement, applicable law, professional requirements and the systems used for delivery.

Retain the decision record

Material findings, sources, calculations and open-item history may need to be retained long enough to explain the work performed.

Limit unnecessary duplication

Sensitive records should not be copied into multiple uncontrolled locations merely for convenience.

Address client return/deletion

Where appropriate, engagement terms should explain whether client-supplied files are returned, retained, archived or deleted after completion.

Do not publish a fictional retention period

A specific public promise should be made only after the actual operating policy and legal requirements have been finalized.

Retention is part of information governance, not an afterthought at the end of the deal.