2017-03-01 00:00:00SecurityEnglishTreating your vital business documents with the utmost care will give you peace of mind and strengthen your position in the event of an...https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/Briefcase-containing-legal-documents.jpghttps://quickbooks.intuit.com/ca/resources/security/secure-legal-documentation/Secure Legal Documentation

Secure Legal Documentation

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Stay ahead of the game and make sure your business is following compliance measures related to legal documentation, as set forth by the Canada General Standards Board. Securely housing confidential business information protects your organization from external audits. The measure also lessens the possibility of fraudulent activity from within the company. Your business should treat and store protected information separately from internal business documents that management and employees can access in everyday operations. Take careful steps to house vital documentation; if it’s compromised, your business could face crippling fines, penalties, and business interruption. Electronic documents such as PDFs or other digital media may continue to be stored in that format. In fact, electronic documents that originated in electronic formats are the only acceptable means of proof in the event of an audit. Printed copies of e-documents don’t meet the requirements of a Canada Revenue Agency audit. Even printed documents can be scanned and stored electronically, as long as prescribed procedures are followed. The Canadian General Standards Board recommends that original paper records be retained if converted to an electronic format. To protect your business, such documents should be stored in a secure location, such as a bank safe deposit box. Know the legal parameters surrounding your company’s vital paperwork. No business wants to get caught unaware if the CRA comes knocking. Create policies and procedures to ensure that your company remains compliant with government requirements.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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