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Mis Unit Vii Q7

In: Business and Management

Submitted By dadalolo
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Electronic records management (ERM) is the systematic method to managing electronic records for efficient storage and retrieval during their useful life cycle. This includes the creation and implementation of set time frames for the retention and destruction of the record (Brown, DeHayes, Hoffer, Martin, & Perkins, 2012). ERM has become an important part of organizations’ information security for several reasons. First, the Sarbanes-Oxley Act requires all publicly traded companies and their accounting firms to maintain all audits and reviews for a period of five years. The Internal Revenue Service can require a time frame of up to seven years. The Health Insurance Portability and Accountability Act (HIPAA) gives individuals access to any disclosure of their public health records up to three years (Brown et al., 2012). Another federal law regarding information security is the eDiscovery amendments to the U.S. Federal Rules of Civil Procedure. These amendments require organizations to follow a set of procedures regarding records retention and electronic information collection (Brown et al., 2012). These laws and regulations impose financial penalties and even imprisonment if not complied with and have triggered an increase in the importance of ERM. All organizations have digital liability, the liability pertaining to the mismanagement of electronic records by their employees. Digital liability management should be based on risk assessment and requires managers to understand the risk associated with the mismanagement of company information and the legal requirements for compliance (Brown et al., 2012). This can be an overwhelming task especially in large organizations. EMR can help manage organizations’ electronic data and assist with legal compliance. ERM managers’ duties revolve around the information security of the company. These managers are

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