Which item is retained for 10 years to support FIAR audits?

Which item is retained for 10 years to support FIAR audits?

• A. Source documents and accountability changes
• B. OPTAR Transmittal Letter Reports
• C. Obligation approval documents
• D. Select Letters of Authority and/or Appointment

Answer: (D)

Understanding who has the authority to incur obligations is crucial for a solid audit trail. Select Letters of Authority and/or Appointment document official delegation of authority to individuals for specific programs or funds. Because these letters prove who was empowered to act at a given time, they are retained for 10 years to support FIAR audits. Other records serve important purposes and may have different retention periods, but they don’t provide the same durable authorization proof over a decade.

Understanding who has the authority to incur obligations is crucial for a solid audit trail. Select Letters of Authority and/or Appointment document official delegation of authority to individuals for specific programs or funds. Because these letters prove who was empowered to act at a given time, they are retained for 10 years to support FIAR audits. Other records serve important purposes and may have different retention periods, but they don’t provide the same durable authorization proof over a decade.