The future of ERM will embody unprecedented challenges and change and will require new levels of financial resources and management support. This session will present four cutting-edge challenges and the efforts to address them:

Part 1: Improving e-records authentication

Part 2: Defining tomorrow's digital storage

Part 3: Reducing IRS records retention requirements

Is your organization required to keep IRS tax audit support for 7, 10 or 20 years, because of open audit cycles with the IRS? How would your company's electronic and physical records management program be impacted if tax audits were completed within 90 days of filing?

Prudential and approximately 37 other large companies are participating in the IRS Compliance Assurance Process (CAP) pilot program. Through CAP, companies fully disclose financial information throughout the year and onsite IRS auditors resolve tax issues before the tax return is filed; enabling the IRS to complete its audit 90 days after the return is filed.

Learn how this innovative pilot program can create significant opportunities to improve the efficiency of managing tax-support records and streamline operations for both paper and electronic records in your organization.

Part 4: Going Boldly Where RIM Has Never Gone Before: Second Life and other Social Networking Sites.

You've seen MySpace and Facebook, but have you experienced your "Second Life?" Virtual social networking sites such as Second Life are big business with over 10 million "residents", and millions per day in transactions.

Major corporations such as Microsoft, IBM, BP, Inc., Cisco, Vodaphone, ABC News, CNN, MSNBC, and Reuters have already conducted job fairs, job interviews, news reports and other business-related activity in this brave new world. Even governmental and non-profit entities such as Sweden, Japan, Ireland, China, the FBI, NASA, NOAA, the CDC, Boston, Portland, Vancouver, Columbia University, the American Cancer Society and even the Anglican Church have begun exploring new opportunities for public and private service in Second Life. And at least one "Real Life" federal court has already enforced economic agreements made in Second Life.

With all this activity, virtual worlds like Second Life represent a new frontier for records information management. This presentation will explore the legal, records management and IT issues raised by this new technology, including business records management and litigation preservation challenges.