Audit file preservation and submission rules require complete archival, evidentiary integrity, and timely production to the regulator. Audit firms of Public Interest Entities must maintain complete audit documentation, assemble final audit files ordinarily within 60 days of the auditor's report, retain them ordinarily for at least seven years, and preserve them longer where legal or regulatory proceedings continue. Audit files requisitioned by the regulator must be submitted in complete form within seven days, and any extension request must be supported by documentary details and relevant audit records. Format conversions or post-archival alterations that impair evidentiary value are inconsistent with the standards.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Audit file preservation and submission rules require complete archival, evidentiary integrity, and timely production to the regulator.
Audit firms of Public Interest Entities must maintain complete audit documentation, assemble final audit files ordinarily within 60 days of the auditor's report, retain them ordinarily for at least seven years, and preserve them longer where legal or regulatory proceedings continue. Audit files requisitioned by the regulator must be submitted in complete form within seven days, and any extension request must be supported by documentary details and relevant audit records. Format conversions or post-archival alterations that impair evidentiary value are inconsistent with the standards.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
