Re: Long running backups - OK?

Here is the relevant text, extracted from the link you provided:

*Agency:*Securities and Exchange Commission.

*Action:*Final rule.

*Summary:*We are adopting rules requiring accounting firms to retain for seven years certain records relevant to their audits and reviews of issuers' financial statements. Records to be retained include an accounting firm's work papers and certain other documents that contain conclusions, opinions, analyses, or financial data related to the audit or review.

What do you think, that the companies will keep paper? They will not. They will keep backups. I've done more than one audit and the regulators have always asked for backups, not for papers. And they were satisfied with the preserved backups. I've done HIPPA audits and SOX audits. I was working with Arup Nanda at the time he wrote his HIPPA book, we were both working for the now extinguished Oxford Health Plans. And we had CSC on site, making sure that we comply with HIPPA. So, there is no BS here. When you have to show the regulators that you have the required records, the regulators will be appeased if you show them backups.

On 01/27/2018 01:11 PM, Tim Gorman wrote:
> Sorry, but calling BS on that nonsense, simply untrue and utterly
> ridiculous no matter how you view it.
>
> Legislation and regulations call for retention of information for
> review during an audit, not "data backups".  The laws cite neither
> backup nor recovery, just records and documents.  Auditors are not
> interested in zeros and ones.
>
> Take for example:  https://www.sec.gov/rules/final/33-8180.htm

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Mladen Gogala
Database Consultant
Tel: (347) 321-1217


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