Are there audit or accounting guidelines that mandate the storage of paper copies of level reports?
There are no specific legal or accounting guidelines that state that there MUST be paper copies of level reports stored/maintained for a certain period of years. However, for audit purposes, departments are required to maintain paper copies of documents that support activity that is reported in level reports (receipts, p-card transactions, etc.). Additionally, for possible future verification purposes, it is strongly suggested that departments maintain either electronic or paper files of level reports for several years.
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