LPC Advisory: Retention period for documents and place of retention

Rule 54.9.2 of the LPC’s rules provides that a firm shall retain its accounting records, and all files and documents relating to matters dealt with by the firm on behalf of clients: (a) for at least seven years from the date of the last entry recorded in each particular book or other document of record or file; (b) subject to certain provisos, save with the prior written consent of the Council, or when removed therefrom under lawful authority, at no place other than its main office, a branch office or, in the case of electronic accounting records or files, the location at which such accounting records or files are ordinarily hosted.