Under the Companies Act 2001 in Mauritius, a company has legal responsibility to keep its records for specified amount of time. For instance, under Section 190, 2(i), accounting records for the current accounting period and for the last 7 completed accounting periods of the company are to be kept for inspection by the Registrar and other relevant parties such as directors.
Maintaining a filing system to keep 7 years of accounting records can be a very demanding and costly task. Holding the records physically implies having a large storage facility only for filing papers and having a staff spending hours on the task. Yet the physical filing system is not an efficient one as finding a record which dates back to some years is a tough task. There is a need for a good filing system to be able to find the record you need quickly and economically, hence providing quick access to information.
The Companies Act 2001 allows for records to be kept “in a form or in a manner that allows the documents and information that comprise the records to be easily accessible and convertible into written form.” This implies keeping records electronically is permissible under the Companies Act 2001.
StoragePlus.io provides an efficient and economical filing and record management system in the following ways:
- All your documents are stored electronically online, hence no storage cost, reduced labor cost and no risk of losing important documents because of fire or insects or paper degradation.
- Secondly, StoragePlus.io provides an advanced indexing system and finding records is easy and fast.
- Finally, records management is not a revenue related task. Leave it to StoragePlus.io and we will let you concentrate boosting your revenue.