Definition
After the report is released, the team completes the assembly of the final audit file. This includes organizing documents, cross-referencing, deleting or archiving superseded drafts, signing off review notes and recording the date of completion. AU-C 230 sets the assembly period at not more than 60 days after the report release date. The work is administrative; it is not a time to add new audit evidence or change conclusions.
Why it matters in an audit or review
Once assembled, documentation must not be deleted or discarded before the end of its retention period, which AU-C 230 puts at no less than five years from the report release date. Any later change must record the reason, the date and who made it.
Example
The report is released on April 15 (illustrative). The 60-day limit falls on June 14, and the senior sets the assembly date for May 20. The manager confirms that every review note is cleared and every PBC item is filed, then signs the archive checklist. On June 3, a missing confirmation is found, which is added with a note explaining when and why.
Common mistakes
- Changing files after assembly without recording the change.
- Leaving unresolved review notes in the archived file.
FAQ
Does the window start at the report date or the release date?
AU-C 230 counts from the report release date, which is the date the auditor grants permission to use the report.
Sources
- AICPA, AU-C Section 230, Audit Documentation (documentation completion date, retention)
Definitions paraphrase AICPA and FASB guidance; read the standard itself before relying on a requirement. Example figures are illustrative. This page is guidance, not professional advice. Report an error