Record Keeping Policy And Procedures Assignment

Purpose

This policy describes guidelines to create, preserve and access King Edward VII’s records. Its purpose is to ensure that all records are accurate and secure.

Scope

A record is any type of file (document, spreadsheet, database entries) that King Edward VII stores in its systems. This includes files both employees and external sources create, all legal and business documents and formal internal and external communications.

This policy applies to employees who may create, access and manage records. The HR and finance departments, which manage sensitive and critical information, are primarily responsible for keeping accurate and secure records.

What records do employees need to create?

Creating and storing certain types of records are mandatory. Employees should keep records that:

• are mandated by law
• are necessary for them or other employees to perform their jobs
• indicate internal or external changes that affect operations, employees, partners or customers
• include decisions, reports, data and activities that are important to the business
• describe business ventures, deals and communication with regulatory bodies or the public.

Employees, teams and departments may keep other records if they decide they’re useful to their jobs.

Employees should:

• ensure that information is accurate and complete
• store records in appropriate mediums
• name, categorize and share records properly
• mark appropriate records as confidential
• clarify who’s authorized to access records.

Authorization

Records may have different levels of authorization that limit their accessibility. The authorization level is determined by the employee who create the records and the law where the law always take precedence.

The following records are strictly confidential and require a high-level authorization:

• Employment records e.g. remuneration, performance review, skills assessment.
• Unpublished financial data.
• Customer/ vendor/ partner/ job applicant information and contracts.

Other types of records, like company performance metrics and internal policies, may be accessible by all permanent employees. Employees must not disclose records to people outside of our company, unless authorized.

Physical records

Printed records must be stored safely in filing cabinets or closed offices. Important, confidential files mustn’t be left in open office areas.

Electronic records

Electronic records will be protected by passwords, firewalls and other security settings (both locally and in the cloud.)

Employees are responsible for keeping these records intact. For example, if an employee shares a Google spreadsheet, they must decide whether to give colleagues permission to edit, view or comment.

Also, when employees access electronic, confidential records outside of our offices, they should ensure that both their devices and networks are secure. They should not leave their screens and devices unattended while logged in to our company’s accounts.

Data retention period

.As a general rule, King Edward VII will keep all records for a minimum of three years unless otherwise stated by law. The following records must be preserved indefinitely:

• Internal policies
• Employment contracts
• Partnership and vendor contracts
• Financial statements and annual reports
• Results of audits and legal investigations.

Discarding records

Records may also be discarded upon request from a stakeholder.

Naming convention

All employees are required to use King Edward VII’s templates for all workplace documentation.

Documents should be named [Department_Type_Detail_Version]

Documents are to be saved using King Edward VII’s cloud-based storage system.

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