Corporate Planning and Practice Records UK

Description of Business Function

The function of developing and establishing the organisation’s corporate plans, of monitoring its performance against these plans and managing overall quality; also developing and establishing the organisation’s corporate governance structure and rules, and of conducting its business in accordance with its governance structure and rules.

Basis of Retention and Disposition

For final records evidencing business practice this is based on evidence and reference purposes, aligning to the relevant limitation period (e.g. 6 years) under contract / tort for which a legal action may be brought in respect of adherence to a company policy.

Working papers, such as drafts, are kept after a document is finalised in case of their need to support corrective changes or questions about the development of a document (unless required longer for proof of process).

At the end of the retention period, disposition decisions would depend on whether there is any current or pending Legal, Compliance or Tax Hold to which they relate as well as any enduring reference value or evidence of process.

Retention Rules Per Record Type

Record Type Minimum Retention Period Rationale
Business Plans Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions
Business Strategies Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions
Corporate Handbooks and Manuals Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions
Corporate Policies Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions
Corporate Standards Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions
Quality Management System Audits Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions
Performance Management Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions
Standard Operating Procedures Published copy = Superseded + 6 years, although consider keeping indefinitely for reference and evidence of process; Working papers = Publication + 1 year Standard limitation period under the Limitation Act, 1980 in case provides evidence of practice; drafts kept support corrective changes or questions

Citations

Limitation Act 1980, s. 5, Time limit for actions founded on simple contract, “An action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued”.

Limitation Act 1980, s.2, Actions founded on tort, “An action founded on tort shall not be brought after the expiration of six years from the date on which the cause of action accrued”

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