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When does audit documentation have to be completed for private company audits?

For private company audits (nonissuers), the audit team must complete all audit documentation within 60 days from the date the audit report is issued. Prior to the audit report date, the audit team should have completed all of the key audit procedures to support their audit opinion.

The 60 days is mainly used to finalize the current and permanent file. Very little audit work, if any, should be performed after the date of the audit report. Most audit firms have procedures in place to prevent audit documentation from being modified after the audit report date.

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