What does report release date mean on the CPA exam?
Report release date. The date the auditor grants the entity permission to use the report. It starts the 60-day limit for assembling the final audit file. Different from the date of the auditor's report, which is when sufficient appropriate evidence was obtained.
Defined against AU-C 230.06, .16.
Which CPA exam sections use report release date?
Report release date appears in the AUD section of the CPA exam.
Related terms
- balance sheet date: The last day of the reporting period.
- written representations: Statements the auditor requires from management to confirm matters or support other evidence.
- measurement date: The date at which an amount is fixed for accounting.
- auditor's report: The document carrying the opinion, with its sections in a fixed order.
- audit evidence: Everything the auditor uses to reach a conclusion, including the accounting records and anything corroborating them.
- management's specialist: An expert management uses to help prepare the financial statements, such as an actuary or an appraiser.