Legal Requirements . . . Microstat help you to keep on the right side of the law . . .   The obligation to keep ALL financial records for 7 years to satisfy Customs & Excise and Inland Revenue requirements is well known, as well as the existence of legal retention periods for other records (e.g. HR). You can be confident that both the Inland Revenue and Customs & Excise have approved the use of CD-ROMs as a storage medium. However, recent prominent corporate cases demonstrate that requirements will become more onerous. Failure to comply can lead to substantial terms of imprisonment for directors for corporate offences . Extra Information . . . •   Click Here for an example of a letter from HM Customs and Excise regarding the preservation of records. • Click Here For a selection of useful links • Click Here For details of the Sarbanes-Oxley Act of 2002 • Click Here For details of the Companies (Audit, Investigations and Community Enterprise) Act of 2004