(a) All statements, records, schedules, working papers and memoranda prepared by a licensee or a partner, shareholder, member or other owner of an equity interest in a firm, or an officer, director, employe or agent of a licensee incident to or in the course of rendering services to a client pursuant to the practice of public accounting, except reports submitted to a client and statements, records, schedules, working papers and memoranda provided by a client to a licensee or a partner, shareholder, member or other owner of an equity interest in a firm, or an officer, director, employe or agent of a licensee, shall be and remain the property of the licensee in the absence of an express agreement between the licensee and the client to the contrary. No such statement, record, schedule, working paper or memorandum shall be sold, transferred or bequeathed, without the consent of the client or his personal representative, successor or assignee, to anyone other than one or more surviving or new partners, members, shareholders or other owners of an equity interest of the licensee or any combined or merged firm or successor in interest to the licensee. Nothing in this section shall be construed as prohibiting any temporary transfer of working papers or other material in the course of complying with the peer review provisions of this act or as otherwise interfering with the disclosure of information pursuant to section 8.9 of this act.

(b) In addition to any statements, records, schedules, working papers, memoranda or reports required to be furnished or returned to the client in accordance with subsection (a), a licensee shall furnish to his or its client or former client upon request made within a reasonable time after original issuance of the document in question:

(c) Except as provided by law other than this act, a licensee shall keep working papers and other materials described in this section for seven years.