This Audit Retention Policy is designed to ensure organizational compliance with Belgian legal requirements and EU regulations regarding the retention of audit-related documents and records. The policy becomes necessary when organizations need to establish standardized procedures for maintaining audit documentation, particularly in light of the Belgian Company Code's seven-year retention requirement and GDPR compliance obligations. It provides comprehensive guidance on retention periods, storage methods, and disposal procedures for various types of audit documents, while considering both statutory requirements and operational needs. The policy is particularly crucial for organizations subject to regular audits, those in regulated industries, or companies seeking to standardize their audit document management practices across multiple departments or locations within Belgium.
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1. Purpose and Scope: Defines the objective of the policy and its applicability across the organization
2. Definitions: Key terms used throughout the policy, including types of audit documents, retention periods, and relevant regulatory terms
3. Legal and Regulatory Framework: Overview of applicable laws and regulations governing audit document retention in Belgium
4. Retention Requirements: Specific retention periods for different categories of audit documents and records
5. Storage and Security: Requirements for secure storage of audit documents, including physical and electronic storage methods
6. Roles and Responsibilities: Defines who is responsible for maintaining, protecting, and disposing of audit documents
7. Document Classification: Categories of audit documents and their respective handling requirements
8. Disposal Procedures: Procedures for secure disposal or destruction of audit documents after retention period expires
9. Compliance Monitoring: Procedures for ensuring ongoing compliance with the policy
1. Digital Transformation Procedures: Procedures for converting physical documents to digital format, used when organization has digital transformation initiative
2. Cross-Border Considerations: Additional requirements for international operations, included when organization operates in multiple jurisdictions
3. Industry-Specific Requirements: Additional retention requirements specific to the organization's industry sector
4. Emergency Access Procedures: Procedures for accessing archived audit documents in emergency situations, included for organizations with critical operations
5. Third-Party Auditor Access: Procedures for providing access to external auditors, included when organization regularly deals with external auditors
1. Schedule A - Retention Period Matrix: Detailed matrix of document types and their specific retention periods
2. Schedule B - Document Classification Guide: Detailed guide for classifying different types of audit documents
3. Schedule C - Disposal Checklist: Checklist for document disposal procedures
4. Appendix 1 - Document Storage Locations: List of approved storage locations and their security features
5. Appendix 2 - Key Contacts: List of key personnel responsible for audit document management
6. Appendix 3 - Compliance Forms: Standard forms used in the audit document retention process
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