Microsoft has moved retention processing for SharePoint Online, OneDrive for Business, Teams, and Yammer from the Managed Folder Assistant to a new retention assistant. (background processing job). It’s part of an effort to use workload-agnostic processing whenever possible to perform retention actions across Microsoft 365.
Microsoft 365 retention policies control how the system removes items automatically from Exchange Online, SharePoint Online, Teams, and other locations. Because these policies are so powerful, it’s a good idea to keep an eye on who makes changes to their settings. The audit log is a natural place to go looking for information about policy updates and while we can find information there, some of the data is oddly formatted or obscured for some reason. Persistence and PowerShell delivers answers, but this is a task way harder than it should be.