The law makes the knowing and willing destruction of audit documentation for audits of public companies within the 7-year required retention period a criminal offense subject to financial fines and imprisonment up to 10 years.

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Quizplus · Accepted Answer

The law does indeed make it a criminal offense to knowingly and willingly destroy audit documentation for public company audits within the required retention period, with possible fines and imprisonment of up to 10 years.

The Law Makes the Knowing and Willing Destruction of Audit