Several months later Congress passed the Sarbanes-Oxley Act of 2002, directing the PCAOB to establish standards requiring audit firms to prepare audit documentation sufficiently detailed to support the conclusions reached in audits of their publicly held clients and to retain
it for at least seven years.
If, as in wars past, the military follows an informal "stop-loss" policy and retains
openly gay and lesbian service members, advocates such as SLDN hope they can train a spotlight on the contradiction and make it clear that it's "don't ask, don't tell"--and not homosexuality--that's incompatible with military service.
Under the procedure, the taxpayer must either (1) retain
the system (seemingly both the actual data and the processing capability) as it exists at the time the tax returns are prepared or (2) create "fiat file" (or in the parlance of the procedure "sequential file") extracts of the data.
If we learn that a government agency is conducting an investigation into a client or that private litigation is pending or threatened (even if the firm is not directly involved), we will retain
all relevant records, even if they are slated for destruction under the firm's policy and even if no request has been made for them.
2036(a) provides that an interest is included in the gross estate of a transferor who retains
either the possession or enjoyment of, or the right to income from, the property, or the right, either alone or in conjunction with any person, to designate the persons who shall possess the property, or the income therefrom, unless the transfer was for full and adequate consideration.
Current tape media has been certified, through accelerated life testing, to reliably retain
data for more than 15 years.
Issues such as who holds the record copy of an e-mail and the responsibility to retain
it are defined ahead of time.
In the above example, if John and Nancy change their minds at the end of the 15-year term and decide they are not ready to relinquish their home to their children, they can (if the children are willing) retain
possession of the home by paying fair market rent to the children or by purchasing the home from the children for its current fair market value.
An expense allowance arrangement will not be treated as an accountable plan if such arrangement does not require the employee to substantiate the expenses to the employer or such arrangement allows the employee the right to retain
any amount (such as travel advances) in excess of the substantiated expenses.
If the probability of the event occurring is 5 percent in any given year, any premium above $50,000 would result in a rational decision to retain
the risk, and a 20-year payback may be quite acceptable.
Halliburton is also expected to retain
liabilities associated with the Barracuda-Caratinga project as well as any indemnification for any liabilities associated with the Foreign Corrupt Practices Act (FCPA) investigation at KBR.
accepted an offer of $987,000 in Job Creation and Retention Program (JCRP) funds in exchange for signing the new lease and committing to retain
511 jobs in Lower Manhattan for at least ten years.
However, if X were to donate a remainder interest in the sculpture and retain
a life estate, no income tax charitable deduction would be allowable.
Furthermore, this case is one of first impression under a new statute that ought to be resolved on its merits and that cannot be decided without expert evidence, Hence, it would be necessary to allow the United States to retain
new experts if its current experts were precluded from testifying.
Section 103 of the Sarbanes-Oxley Act directs the Public Company Accounting Oversight Board to adopt an auditing standard that requires each registered public accounting firm to retain
for a period of not less than seven years audit workpapers and other information that support the conclusions in the auditor's report.