Gbitten

There is a big confusion on many web pages which write that Sarbanes-Oxley specifies 7 years of log retention. This is common on Internet, people copy & paste from others sites but don't verify the original source and something, that is not true, gets some credibility because many of us repeat this information.

In reality, the U.S. Securities and Exchange Commission establish the following in one of its rules:

WE are adopting rules requiring accounting firms to retain for seven years certain records relevant to their audits and reviews of issuers' financial statements. Records to be retained include an accounting firm's workpapers and certain other documents that contain conclusions, opinions, analyses, or financial data related to the audit or review.

So, the Sarbanes-Oxley act does not specify how long the log retention period should be. Actually, it only states that accounting firms should retain their audit records for 7 years.

Labels: SOx

posted by Gustavo Araujo Bittencourt  # 10:24 AM