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Print PageWhy you need to Store your Business Emails
Email Compliance & the Electronic Transaction's Act is a major risk management issue. Most businesses are totally unaware they are exposed to the Act and of the associated penalties that can be applied. The poor storage of emails has been used as an easy weapon against overseas businesses.
Email compliance as a legal weapon will soon be recognised in Australia. Overseas business has learnt of the penalties that can be applied arising from poor compliance. The penalties can put them out of business and they also dwarf the cost of any technology needed in order to satisfy and comply with the new regulations.
Australian businesses need to verify their compliance arrangements in this area before they are drawn into any legal action for example from a customer complaint, an unfair dismissal or any other dispute.
Currently many businesses carry a 4 year period of exposure to the law’s required 7 years of storage. The correct archiving practice needs to be clarified against your current procedures.
The two key points of exposure are ;
- Common Myths of Archive Practice in IT departments. Most IT staff have no understanding of the law’s exact requirements and believe snapshots will suffice compliance, this and many other common archive practices are leaving businesses exposed with incomplete records and incorrect email policies.
Incorrect claims by many software providers. Many document and or content management systems claim they meet compliance when they do not meet Australian Compliance requirements. Just because a software system says you can find your information quickly does not mean it meets with compliance.
Two important questions of compliance are ;
- Who has access and control of the archive?
- What is the point of capture for your archive?
The answers determine the integrity of the archive and your compliance overall.
If you are aware that users can delete on your system and have access or control of data pre archiving then a loophole can be found in your compliance and the chances are you are exposed.
Confused? You are not alone, let’s put it in plain language. The law wants you to collect and store everything for 7 years in its original form (some industries are longer) and you must then be able to prove the archives integrity has not been tampered with during this period. Any possible instance where data has either not been collected or has been deleted from or before the archive will put you in the position of non compliance.
Any penalties applied due to non compliance are in addition to whatever legal action was taking place in the first place.
All business owners should be seeking the correct professional help to ensure their archive procedures meet all the new regulations. The cure costs less than exposure.
Prepared by Jim Wilson - Tailored Edge Pty Ltd – 10 Feb 2005 for Bentleys MRI
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The information contained or otherwise implied within this e-mail has been provided in good faith and is deemed by the sender to be reliable and accurate. Bentleys MRI, however accepts no liability in respect of this e-mail and any person acting solely on the information contained within does so entirely at their own risk.Member of Moores Rowland International, an association of independent accounting firms throughout the world. Affiliated firms in all States of Australia. The firms practising as Bentleys MRI and Moores Rowland are independent. They are affiliated only and not in partnership.