What it is
At the end of the audit two things need a record: that the team has finished the required completion work, and that the engagement partner has done the review AU-C 220 assigns. The memo lists thirteen completion items with the standard, result and sign-off, followed by a table that tracks each engagement partner requirement.
The partner table follows AU-C 220 as amended by SAS 146: review of documentation of significant matters and judgments, the determination on or before the report date that sufficient appropriate evidence supports the conclusions and the report, review of the financial statements and report before dating, review of formal written communications, consultation, completion of any EQ review before release, and the documentation items. A section covers the 60-day file assembly deadline.
When to use it
- Before the report is dated, as the final gate on the file.
- Whenever the firm wants a single record of the partner’s review.
- During peer review preparation, to show evidence of review.
What’s inside
- Engagement summary with report type, partner, reviewer and dates
- Thirteen completion items mapped to AU-C sections
- Engagement partner review table keyed to paragraphs 31 to 36 and 41 of AU-C 220 as amended
- Significant matters table, file assembly dates and the partner’s conclusion
Standard cited
This template follows AU-C 220 / AU-C 230 / AU-C 450. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use. See AU-C 220 explained, AU-C 230 explained, AU-C 450 explained.
Questions
What does the engagement partner have to review?
Under AU-C 220 as amended by SAS 146, the partner reviews audit documentation at appropriate points, including significant matters and judgments; determines on or before the report date that sufficient appropriate evidence supports the conclusions and the report; reviews the financial statements and the report before dating; and reviews formal written communications before they are issued.
When does SAS 146 apply?
SAS 146, Quality Management for an Audit of Financial Statements, applies to audits of financial statements for periods beginning on or after December 15, 2025. For earlier periods adapt the references to the standard in force and your firm’s methodology.
When must the audit file be assembled?
No later than 60 days following the report release date, which is the date the auditor grants permission to use the report. Assembly is administrative and is not a time to perform new procedures to support the opinion.
Can the report be released before an EQ review is complete?
No. If the audit is subject to an engagement quality review, the engagement partner may not release the auditor’s report until the review is complete.
Related templates
- Audit Completion and File Review Checklist (AU-C 230 / AU-C 700)
- Engagement Partner Review Checklist (Audit)
- Engagement Quality Review Documentation Memo (SQMS No. 2)
- Audit Report Issuance Checklist (AU-C 700 Series)
Last updated 11/05/2026. All free templates.