Recordkeeping Rule

The Recordkeeping Rule refers to guidelines that require organizations to maintain accurate and comprehensive records of their business activities. This includes financial transactions, employee information, and other operational data. The purpose of these rules is to ensure transparency, accountability, and compliance with laws and regulations. Proper recordkeeping helps organizations track their performance, manage risks, and provide necessary information during audits or investigations. It is crucial for safeguarding both the business’s interests and those of its stakeholders, including employees and customers. Essentially, it's about keeping detailed and organized records for effective management and legal adherence.