Follow the Retention Policy

A large accounting firm's biggest client was collapsing and regulators had begun asking questions. The firm's in-house lawyer emailed a partner suggesting he remind the audit team of the firm's document retention policy. On a crisis call she told everyone to follow the policy. The partner in charge handed the policy out at team meetings and urged compliance. Much paper and electronic material was then destroyed. When the subpoena arrived, his secretary emailed: no more shredding. The firm was charged with corruptly persuading staff to withhold documents. It says it believed it was acting lawfully.