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Auditing Stockholder's Ledger Requirements

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Question: 
I am currently auditing our Stockholder's Ledger. The bank has a computer-generated history of all shareholders, purchases, transfers, etc. They also keep a handwritten ledger of the same information. Is there any reason, requirement to have both?
Answer: 

It might be a State law, if anything. If the electronic records contain all the required information, I am not sure why a written ledger would be required. Since these likely require permanent retention, all historical records would likely need to be preserved. Check with legal counsel.

First published on 01/26/2020

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