As a core component of information governance (IG), records management is responsible for the systematic control of the creation, use, maintenance and disposition of a corporation’s recorded information. At its foundation, a strong records management program must identify the legally-mandated recordkeeping requirements applicable to the corporation’s business activities to minimize the risk of regulatory
non-compliance. Failure to comply may result in both civil and criminal penalties as well as possible adverse determinations in litigation and regulatory investigations. Both private and public entities alike are subject to jurisdictional laws and regulations. Five (5) common recordkeeping requirements emerge from the legal landscape, including laws relating to retention, storage format, location, destruction, and protection. A strong records management program must consider all legally-mandated recordkeeping requirements applicable to a corporation’s business activities. Click the link below to read the full report.
Disclaimer: The purpose of this post is to provide general education on Information Governance topics. The statements are informational only and do not constitute legal advice. If you have specific questions regarding the application of the law to your business activities, you should seek the advice of your legal counsel.