Connecticut CPAs have a new requirement to keep records for a minimum of seven years unless federal law requires a more extended period.
According to the Office of Legislative Research summary of House Bill 6100, Section 34, “The bill requires CPAs to keep work product and workpaper related to work for a client for at least seven years after creation unless the law requires a longer retention. Current law only specifies that CPAs must retain workpaper as required by law.
As is the case under existing law, work product or workpaper related to the audit of a corporation subject to the Securities Exchange Act of 1934 must comply with the retention laws specific to those audits.”
Read Public Act 21-37 (HB 6100) An Act Concerning Department Of Consumer Protection Licensing And Enforcement, Antitrust Issues And The Palliative Use Of Marijuana And Revisions To The Liquor Control Act.
Effective Date: July 1, 2021