Concern about how long engagement files should be retained is a common issue among Accounting firms. There is frequently a conflict between the desire to discard older files to free up storage space, and the inherent reluctance to discard documents which contain a detailed record of the work which you have performed.
There are very few rules established in law for file retention by accountants. However, this information is intended to help provide some guidance in developing internal record retention standards for your firm.
Read More - Including Sample File Retention Policy and Receipt for Client Records
