Record Retention (Update Available)


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number



Overview/Description
Does your company have a formal policy for how to retain and dispose of its records? Do you know what records you need to retain, how long you should retain them for, and which disposal techniques you should use? Following the Arthur Andersen case, many companies are reexamining what documents they keep and how long they must keep them. Having a carefully planned and documented record retention policy supports your company's internal documentation and accounting systems and addresses the compliance requirements of state and federal law. While disposing of too many records can increase a company's legal exposure, disposing of too few records increases the costs of storing the records. In this one-hour course, you'll learn how to identify which records must be retained and for how long, the different formats in which records may be stored, techniques for record disposal, and how to make sure your record retention policy complies with the law. SkillSoft's Legal Compliance courses are developed and maintained with subject matter support provided by the Labor, Employment, and Employee Benefits Law Group of the law firm of Sheehan Phinney Bass + Green PA.

Target Audience
All employees but particularly management and human resource personnel who need to understand and implement compliance policies

Expected Duration (hours)
1.0

Lesson Objectives

The Need for Record Retention

  • recognize examples demonstrating when legal considerations exist for having a record retention policy.
  • recognize the administrative benefits of having a record retention policy.
  • identify the requirements for record retention under the Securities and Exchange Commission (SEC).
  • identify the provisions pertaining to record retention under the Sarbanes-Oxley Act.
  • identify rules required by the Health Insurance Portability and Accountability Act (HIPAA) that impact record retention.
  • identify issues to be addressed when storing and deleting electronic records.
  • recognize factors that determine electronic communication retention policies.
  • Development and Implementation of a Record Retention Policy

  • recognize elements of an effective record retention policy.
  • determine examples of records that should be retained permanently.
  • recognize the benefits of having an effective record destruction policy.
  • match an example record with the appropriate method of disposal or destruction.
  • Course Number:
    LCO0119