As the hype over cloud computing continues, many CFOs wonder about worst-case scenarios. For the purposes of auditing or in case of litigation, how will the company retrieve crucial e-mails, HR records, transaction data and other financial documents in a cloud environment?
- Any company that transacts business with US or UK-based companies, or does business within those countries, may be subject to a lawsuit that will require e-discovery.
- Regulators throughout the world require access to information, and more frequently, that information is only available electronically. More data is “born digital” -- some studies suggest that 80 to 90% of information is never available on paper.
- Companies conducting internal audits or investigations also have a need for e-discovery processes, for the same reasons as the regulators.
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