Updating lab and its equipment

In the lab where you work is it required that you have updated equipment? Also when should the building in which your lab is held be check/cleaned and or updated to meet safety standards? 

Are you certified under any specific scheme, such as SQF, BRC, etc.?

If so, what are the specific requirements of your scheme?

Are there any federal, state or local regulations that dictate anything regarding labs?

Are you able to adequately perform all testing with your current inventory of equipment?

Is your lab currently cleaned thoroughly on a regular basis that is sufficient to control contamination risks?

Many questions to answer (probably even more than what I came up with on the spot here) before you can drill down to the answer you need, my friend...

When should it meet safety standards?

See OSHA regulations. You have obligations to keep your employees safe.

When should you update equipment?

When it no longer serves it's intended purpose, becomes unreliable or outdated compared to standard methods, or becomes unsafe.

When should the building be check/cleaned?

At an interval sufficient to prevent contamination of samples/tests and your facility.

These are general answers, if you have specifics I'd be happy to lend my two cents.