Document background
The Audit Retention Policy is a crucial document that provides a framework for managing audit-related records in compliance with Austrian legal requirements. It is essential for organizations operating in Austria to maintain proper documentation of their audit processes and ensure compliance with various regulatory requirements, including the Austrian Commercial Code (UGB), Federal Fiscal Code (BAO), and data protection regulations. The policy outlines specific retention periods, which typically range from 7 years for standard business records to longer periods for specific documents, and includes comprehensive guidelines for storage, access, and destruction of audit materials. This document should be implemented when organizations need to establish or update their audit record management procedures, particularly in response to regulatory changes or organizational growth.
