Mich. Admin. Code R. 338.5104 - Retention of documents
Rule 104.
(1)
With the exception of documents related to a peer review, all individual
licensees, firm licensees, individuals with practice privileges, and
out-of-state firms shall keep sufficient documentation, in any form, about
services performed while engaged in the practice of public accounting, as well
as evidence obtained and conclusions reached, for a period of not less than 5
years.
(2) Documents related to a
peer review must be kept in accordance with and satisfy the AICPA's
professional standards and retention policies under
R 338.5102(1)(a) or
until final adjudication of a complaint related to a peer review, whichever is
later.
(3) Documentation must be
consistent with that required by professional standards or issued by the
applicable nationally or internationally recognized professional standards
setting organizations.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.