Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Bureau of Professional Licensing
Board of Accounting
Accountancy - General Rules
Part 1 - GENERAL PROVISIONS
Section R. 338.5104 - Retention of documents
Current through Vol. 24-04, March 15, 2024
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.
