Member Resources | Professional Ethics | Record Retention | Policy and Schedules

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Record Retention

Policy and Schedules

Determining the proper periods for retaining records is a major decision for practitioners. Records should be preserved for only as long as they serve a useful purpose or until all legal requirements are met. It is a good practice to document the firm's retention policy and ensure that the policy is uniformly enforced firm-wide.

The AICPA has guidance for creating such a record retention policy. Retention schedules will differ for firms and clients.

You can learn more about record retention by purchasing the Management of an Accounting Practice Handbook or subscribing to AICPA's e-MAP service.

Sample Client Record Retention Schedule

Sample Firm Record Retention Schedule


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