In an audit engagement letter, a clause addressing document retention states that the auditors will retain the client company's accounting records until the audit fees have been collected.

Question

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A clause addressing document retention in an audit engagement letter should state that the auditors will retain the client company's accounting records for a certain number of years for legal and regulatory compliance purposes, not until the audit fees have been collected.

In an Audit Engagement Letter, a Clause Addressing Document Retention