Why is a records inventory required?
Answer
A completed inventory provides a total picture of the information environment for a particular department i.e., how the information is created and used by employees. The objective of which is to identify all records created, used, or received by the department and identify how they are stored, managed, and accessed. Its main purpose is to provide the information needed to develop the appropriate Records Classification and Disposition Schedule and File Plan which governs how the identified categories will be managed and how long they will be retained by the Bank. It also helps identify various records management problems such as inconsistencies with respect to how records are created, stored, and accessed.