Recordkeeping Requirements

Recordkeeping requirements refer to the legal obligations businesses and organizations have to maintain and store various types of documents and records, such as financial statements, employee information, and compliance documents. These records ensure transparency, accountability, and adherence to regulations. Proper recordkeeping helps protect a business during audits, legal disputes, or inspections. It involves knowing what to keep, for how long, and in what format, whether physical or digital. Effective recordkeeping contributes to informed decision-making and efficient operations while safeguarding sensitive data.