Factors to Consider in Long-Term Retention of Electronically Stored Business Records

D.

Long-term retention of business records may be severely impacted by changes in application systems and media.

For example, data stored in nonstandard formats that can only be read and interpreted by previously decommissioned applications may be difficult, if not impossible, to recover.

Business strategy and direction do not generally apply, nor do legal and regulatory requirements.

Storage capacity and shelf life are important but secondary issues.

The correct answer to this question is B, regulatory and legal requirements.

Long-term retention of electronically stored business records is a critical component of any organization's information management strategy. With the increasing reliance on electronic storage and the growing volume of digital data generated by organizations, it is essential to plan for the long-term retention of electronic records to ensure that they are accessible and usable over time.

One of the most critical factors that must be taken into account when planning for the long-term retention of electronically stored business records is the potential changes in regulatory and legal requirements. Regulations and laws related to data retention are constantly evolving, and organizations must stay up-to-date with these changes to ensure that they are in compliance.

Failing to comply with legal and regulatory requirements can result in significant penalties, including fines, legal action, and damage to an organization's reputation. Therefore, it is essential to plan for the long-term retention of electronically stored business records with a focus on compliance with legal and regulatory requirements.

In addition to legal and regulatory requirements, other factors such as storage capacity and shelf life, business strategy and direction, and application systems and media may also be important considerations in planning for the long-term retention of electronically stored business records. However, these factors are not as critical as regulatory and legal requirements, which can have severe consequences if not adequately addressed.