Mich. Admin. Code R. 567.12 - Records format

Rule 12.

(1) In order to conduct the examination efficiently, a searchable machine-sensible record is preferred. The person subject to examination may provide information in an alternative format such as hardcopy, microfilm, microfiche, or other storage-only imaging systems in the form of a machine-sensible record. The auditor may adjust the timeline for the examination if a searchable machine-sensible record is not provided.

(2) For purposes of examining accounting records, machine-sensible records shall be capable of being retrieved and converted to a standard record format, such as, but not limited to, chart of accounts, income statement, balance sheet, account ledgers, and bank reconciliations. The person subject to examination is not required to retrieve and convert machine-sensible records other than those created in the ordinary course of business.

(3) All hardcopies and data stored on microfilm, microfiche, or other storage-only imaging systems shall be provided in a manner that allows the auditor to locate any particular record.

Notes

Mich. Admin. Code R. 567.12

2017 MR 5, Eff. 3/21/2017