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CA Intermediate · Auditing and Ethics · Audit Documentation

While auditing Kaveri Textiles Ltd for 2025-26, CA Mehul, the engagement partner, signs the audit report on 20 May 2026. The audit team is still stapling printouts and filing working papers. Under SA 230, what is the correct position regarding assembling the final audit file?

The final audit file should be assembled on a timely basis, ordinarily within 60 days after the date of the auditor's report. The period is counted from the report date, not the financial year-end, and the assembly is an administrative process that does not need to be done the same day.

  1. AThe assembly must be completed on a timely basis, ordinarily not later than 60 days after the date of the auditor's reportCorrect
  2. BThe assembly must be completed within 60 days from the end of the financial year, i.e. by 30 May 2026
  3. CThe assembly can be completed at any time before the next year's audit begins
  4. DThe assembly must be completed on the same day the audit report is signed

Explanation

SA 230 requires the auditor to assemble the documentation in an audit file and complete the administrative process of assembling the final file on a timely basis after the date of the auditor's report. The ICAI standard indicates an ordinary limit of not more than 60 days from the date of the report. The 60 days run from the report date, not from the year-end, so the option based on 30 May 2026 is wrong.

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