China has updated its record keeping requirements through the 2016 passage of a new accounting regulation, Administrative Measures on Accounting Records. Some of the new retention requirements have increased retention periods significantly. Here’s a breakdown of the new regulation: Read more
I’m often asked a question that goes something like this: “We’ve moved our records to a cloud-based vendor. How do we implement our records retention schedule on the vendor’s system?” More often than not, this question involves personnel records and other human resources records, because there’s a big industry of outsourced HR functions, but it could be other records as well.
Many times, the answer that I have to give isn’t the one they want to hear. This is particularly true when the move has already been made.
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