ACCA AA · Chapter 7 · Question 7 of 8
Under ISA 230 and related quality management standards, what is the usual time limit for assembling the final audit file after the date of the auditor's report?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) 60 days
Explanation
Assembly of the final audit file is an administrative process that should normally be completed within 60 days of the date of the auditor's report. No new audit procedures should be performed during assembly, and documentation is then retained for a period that is commonly at least five years.
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