Ethical Considerations in Record Retention: Should I Keep or Should I Throw (1 hour)

Overview

Requirements surrounding record retention continue to leave many practitioners confused. What documents must you keep, how long must you keep them and which can you destroy? Discuss why it is important to understand the requirements and the potential impact it can have on both the governmental unit and the CPA firm.

Highlights

• Importance of a Record Retention Policy
• What records must CPA return to client
• Difference between Code of Conduct and IRS Circular 230
• Importance of Record destruction when no longer required to retain records

Prerequisites

None, but it would be helpful to know how to access the AICPA Code of Professional Conduct.

Designed For

All CPAs

Objectives

• How long a CPA must retain client records
• What must be done upon selling a practice or retiring

Notice

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