I'm new to Records Management and all the regulations to which our company
needs to adhere.
But it has come to my attention that our company is keeping employee
expense reports for 50 years!!
I asked why and a Treasury person said they were following FERC 18CFR Ch.
1, Paragraph 125.3, reference 12(a).
This happens to be under the major heading of "General Accounting Records",
not under "Treasury" which is references 58 through 60.
Reference 12(a) is "Journal Vouchers and Journal Entries and has a
retention period of 50 years.
This does not seem logical to me when further down at reference 15 (a)
"Paid and canceled vouchers" which to me would be more important to the
company, has a retention period of only 6 years.
Question....how long does your company keep employee expense reports and