Where date arithmetic comes up in an engagement
Most of it is deadline work and cutoff work. Aging buckets, days sales outstanding and days payable all run on the number of days between an invoice date and the balance sheet date. The window around year end for cutoff testing and the period after year end for the subsequent events procedures are both measured in days from a fixed date. At the other end of the file, the documentation completion date and the single audit due date are counted from the report.
Method
Every date is converted to a day number in UTC, so daylight saving never shifts a result, and differences are exact. The calendar span in years, months and days counts whole months from the first date and then the remaining days. Adding months keeps the day of the month where the month has it and otherwise uses the last day of the month.
The audit dates
- AICPA, 60 days. AU-C 230 requires the auditor to assemble the final audit file on a timely basis, no later than 60 days after the report release date. See AU-C 230.
- PCAOB, 14 days. AS 1215, as amended, sets the documentation completion date at 14 days after the report release date for issuer audits. It was 45 days before the amendment, and the effective date of the 14-day limit is phased in by firm size.
- Single audit. 2 CFR 200.512(a)(1) sets the earlier of 30 calendar days after the auditee receives the auditor's report and nine months after the end of the audit period, with a move to the next business day when the date falls on a weekend or Federal holiday. See the single audit walkthrough.
Limits
The tool counts calendar days. It does not know about Federal holidays, state filing rules, extensions granted by an agency, or client-specific due dates in a contract or grant agreement. The date to start from, whether the report release date or the auditee's receipt date, is a fact to establish and document in the file.
Illustrative figures only. Check the result against your firm's methodology before relying on it.
Common questions
How many days are there between two dates?
Subtract the earlier date from the later one. 12/31/2026 to 03/15/2027 is 74 days: 0 in December, 31 in January, 28 in February and 15 in March, counting from the day after the first date. Tick the inclusive option to count both the first and the last day, which gives 75.
What is the audit documentation completion date?
It is the date by which the auditor has assembled the complete and final audit file. For a nonissuer audit, AU-C 230 sets it at no later than 60 days after the report release date. For an issuer audit, PCAOB AS 1215 as amended sets the limit at 14 days after the report release date, shortened from 45 days, with effective dates phased in by firm size.
What is the report release date?
It is the date the auditor grants the entity permission to use the auditor's report in connection with the financial statements. It can differ from the date on the report, so use the date the report was actually released, and keep the evidence of it in the file.
When is the single audit reporting package due?
Under 2 CFR 200.512(a)(1), the audit, the data collection form and the reporting package are due within 30 calendar days after the auditee receives the auditor's report or nine months after the end of the audit period, whichever is earlier. A due date that falls on a Saturday, Sunday or Federal holiday moves to the next business day. The cognizant or oversight agency can allow an extension of the nine-month limit in some circumstances.
How does adding months handle month-ends?
The day of the month is kept when the target month has it, and otherwise the result lands on the last day of that month. January 31 plus one month is February 28, or February 29 in a leap year. December 31 plus nine months is September 30.
Runs in your browser. The figures you type are not sent to CORAA or stored. Check the result against your firm's methodology before relying on it.